401(k) loans act as lifeline for savers facing health and housing shocks
Most borrowers use defined contribution plan loans for essential health and housing costs rather than discretionary spending, new EBRI research found.
401(k) loans
Employees who took 401(k) loans during COVID are having regrets
It’s now up to employers to help workers understand how to rebuild retirement savings and regain financial security.
How to handle Medicare if clients are working at 65
“The advice I give is to calculate the financial impact for each option,” an expert says.
401(k) loan benefits are stressing employees out
Borrowing against a retirement plan can be a double-edged sword.
Benefits Think What’s missing from pending retirement legislation? A provision to plug cash-out leakage
Without measures to help workers avoid the decision to withdraw their savings, the proposed law is less likely to achieve the stated goals of its supporters.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Can the government help you save for retirement?
Lawmakers this year are expected to pursue measures that will help Americans enhance their retirement prospects.
Benefits Think Sidecar accounts can help plug 401(k) leakage — to an extent
Although rainy day funds can be useful in the ongoing struggle to curtail leakage of savings from defined contribution plans, they won’t plug the biggest hole in the retirement system’s proverbial bucket.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
How to plan (or not) for Social Security in retirement
Most people, particularly younger clients, worry that they will not be able to get their Social Security benefits by the time they retire.
After using their 401(k)s as a piggy bank, workers fret for the future
The Great Recession spurred many Americans to take loans from their retirement accounts. Now that unemployment is at an all-time low, the next question is how to finance their post-work years.
5 things workers should consider before tapping retirement accounts
Retirees who consider taking withdrawals from their 401(k) and other similar plans should account for the tax impact before making a decision.
Hold tight or splurge? Booming retirement accounts prompt tough questions
Savers are starting to take money out of their 401(k) accounts—despite taxes and penalties involved—assuming it will be replaced as markets continue to surge upward.
Health savings account vs. 401(k), which is better for savers?
Tax-free withdrawals could outweigh an employer's match if early withdrawals are made for expenses like healthcare.
Benefits Think How to reunite employees with their old 401(k) accounts
Workers often don’t aggregate old retirement savings plans at new jobs, leaving behind orphaned accounts that need attention.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
IRS loosens 401(k) lending rules to help Hurricane Harvey victims
The Internal Revenue Service granted relief to those hit by the storm by making it easier for retirement plans to give loans and hardship distributions.
Common tax surprises for surviving spouses
Surviving spouses will either receive their own Social Security benefit or the survivor's benefit, whichever is higher. But they also may get pushed to a higher tax bracket, which. in turn, could mean higher taxes on Social Security benefits.
401(k) rollovers: How to avoid costly mistakes
Make sure workers understand that a 401(k) rollover could trigger a hefty tax bill, and that liquidating assets before the age of 59 1/2 could mean a hefty penalty.
401(k) rollovers: How to avoid costly mistakes
Make sure clients understand that a 401(k) rollover could trigger a hefty tax bill, and that liquidating assets before the age of 59 1/2 could mean a hefty penalty.
Is it OK for employees to raid a 401(k)?
Tapping a 401(k) isn’t good idea, so it would need to be the lesser of two or more evils. And they “would have to be pretty evil evils," says an expert.
Retiring early despite investing mistakes
Low-cost passive index funds and sticking to an asset allocation plan even during a market downturn overcame some common pitfalls.
Retiring early despite investing mistakes
Low-cost passive index funds and sticking to an asset allocation plan even during a market downturn allow employees to overcome common pitfalls.
