Does Social Security still have a minimum benefit?
To qualify for this feature, clients should have reported a minimum amount for at least 11 years.
Retirement income
When not to roll a 401(k) into an IRA
For many workers, moving assets from old 401(k)s into a traditional IRA may not be a smart move. One reason: IRAs often don’t offer stable value or guaranteed fund investment options as do most 401(k)s.
Benefits Think 3 defined contribution plan design trends to watch
Expect clients to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.
Aimee DeCamillo
T. Rowe Price Retirement Plan Services
Time is running out to fix this IRA mistake and avoid a 50% penalty
If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.
Make the most of the new military retirement plan
Those who signed up in the past year will get a smaller pension than they would under the old system, but they can expect additional benefits from the tax-advantaged Thrift Savings Plan.
Caring for kids and elders, middle-aged Americans fall short on retirement savings
The sandwich generation is struggling to save for its own needs, and when you add in family demands, it paints a "grim picture," an expert says.
Benefits Think 3 defined contribution plan design trends to watch
Expect employers to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.
Aimee DeCamillo
T. Rowe Price Retirement Plan Services
Social Security’s earnings test is too complicated — and it discourages work
Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.
Why the tax law may induce some people to put more money in 401(k)s
The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.
Do tax law changes affect IRA deductibility?
Although more taxpayers are expected to use the standard deduction, they can still claim the tax deduction for IRA contributions.
Why full retirement age is so important for Social Security
Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.
Can an annuity help sidestep Social Security taxes?
Although earnings in a deferred annuity will not be included in an investor's adjusted gross income, future withdrawals from the annuity could trigger a bigger tax bill.
Social Security proposal retains — and even enhances — benefits
It would raise enough new revenue to more than restore long-term balance of the program.
The most likely cause of financial ruin — and few prepare for it
Even middle-class households who have health insurance are at risk, as a researcher points out that they are the ones who filed for the most bankruptcies.
Benefits Think Auto-portability may be key to boost retirement savings for low-income participants
High cash-out rates exacerbate an already challenging situation for some minority retirement savers. Households making $20,000 or less are especially vulnerable.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Forget the 401(k). Let’s invent a new retirement plan
Lawmakers and policymakers should make retirement savings plans universally available if they want to help Americans secure their golden years.
Are employees worrying too much about retirement?
More than two-thirds of retirees say they live as well or better in retirement than when they were working.
Social Security scams are a growing threat to retirees
One tip for seniors: They should register their My Social Security account as early as they can before other people can create the account.
Benefits Think Auto-portability may be key to boost retirement savings for low-income participants
High cash-out rates exacerbate an already challenging situation for some minority retirement-savers. Households making $20K or less are especially vulnerable.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Where-to woes of retirement: The pros and cons of retirement housing options
About 77% of people 50 and older want to stay where they are as long as possible, according to a survey. But clients who want to — or have to — move, have a number of options each with pros and cons.
