Retirement planning

Recent IRS guidance and legislative changes show hardship withdrawals is an area where both plan sponsors and participants may still have questions.

The rise in student debt, increased life expectancy and the many competing priorities for money that are considered the “new normal” for younger generations have them wondering how they will pay for it all.

Reasonable costs, healthy account balances and a high percentage of employee participants are attributes of great retirement plans.

Employees may want to cash in their retirement accounts but other variables complicate the outlook.

Displaying care, skill and due diligence in their methodology is a higher consideration in the process.

The gap for brand-name prescription drugs for Medicare beneficiaries is likely to narrow down to 25% of drug costs from the scheduled 30% next year.

Durham Public Schools institutes Financial Fitness program to boost employees’ financial acumen.

Employees may want to cash in their retirement accounts but other variables complicate the outlook.

Advisers will find a powerful tool in communicating enhanced benefits from a defined contribution perspective that puts employee’s in the driver’s seat.

Employees should first max out HSA contributions regardless of their tax bracket, and contribute to their traditional retirement plans afterwards.