Retirement income

The Trump administration unveiled its proposed budget that includes provisions that would enable Medicare beneficiaries to contribute to a health savings account.

The employer added a retirement savings match in January for its more than 300 U.S. workers.

Seniors will face a 20% penalty on top of income taxes if they withdraw funds from a health savings account for non-medical expenses before the age of 65.

Not having a full understanding could hurt workers’ retirement prospects by causing them to possibly miss out on their employer’s match or not reducing their taxable income as much as possible.

The company joins a growing number of employers offering student loan repayment in conjunction with retirement benefits.

The Pension Benefit Guaranty Corp. is facing a $54 billion deficit for insuring multiemployer plans in unionized industries, says the GAO report.

Employers are free to tackle their hefty pension obligations through a one-time, lump-sum payout to retirees and beneficiaries.

The worst thing investors can do is panic and sell.

To qualify for this feature, clients should have reported a minimum amount for at least 11 years.

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.