Retirement

IRS rules allow clients in certain circumstances to tap their retirement accounts before the age of 59 1/2 without a 10% penalty. But this still should be considered a last resort, an expert says.

Republican lawmakers introduced legislation Monday that would make the 2017 tax overhaul for individuals permanent in a bid to highlight their signature economic policy achievement ahead of the November elections.

After listening to employee concerns over the company’s program, Benny Award winner Jodi Budnick made it her mission to upgrade the plan and help employees save more for their post-work years.

The ruling is a step in the right direction. But be warned: There are too many unknowns for companies to begin offering the program.

The guideline used a specific set of assumptions: a retirement lasting 30 years with savings in a tax-deferred account and nothing left for heirs. Change just one and your “safe” withdrawal rate may differ.

Retirees will owe taxes for up to 85% of their Social Security benefits if their adjusted gross income plus nontaxable interest exceed a certain threshold.

More than one-third of the $18.1 trillion invested globally in pensions are in 133 U.S. funds, including Boeing, AT&T, IBM, General Motors and General Electric.

Fewer employees reportedly experienced financial issues after the company implemented a series of financial wellness initiatives and tools.

A study notes that retirees might be experiencing the “Homer Simpson” mindset, in which they choose immediate gratification without thinking about the long-term consequences.

More than one-third of the $18.1 trillion invested globally in pensions are in 133 U.S. funds, including Boeing, AT&T, IBM, General Motors and General Electric.