Why retiring at 65 could become a thing of the past
“By and large, many simply have not yet saved enough to retire comfortably.”
Retirement withdrawals
How to manage multiple HSAs for couples
They are triple-tax advantaged, but also introduce significant challenges — especially for life partners with multiple accounts.
Benefits Think Cash-out leakage is still too high — and auto portability can help
Despite auto portability’s proven ability to cut 401(k) withdraws, a solution addressing leakage and the lack of seamless plan-to-plan asset mobility is missing.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Benefits Think Cash-out leakage is still too high — and auto portability can help
Despite auto portability’s proven ability to cut 401(k) withdraws, a solution addressing leakage and the lack of seamless plan-to-plan asset mobility is missing.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
401(k) balances climbed over last decade
Employee retirement contributions soared 15% from last year, Fidelity Investments says.
Baby boomers in this city are plagued with the most debt
One state has two of the top three cities in terms of boomer debt.
Benefits Think Tax Day is coming — a perfect time to teach millennials why they shouldn’t cash out
By educating employees about the importance of incubating saver’s credits, employers can make them less likely to cash out their 401(k)s when they change jobs.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Benefits Think Lump sums vs. life annuities: Leveling the playing field
As an alternative to placing restrictions on lump sum withdrawals, clients could provide retirees more distribution flexibility.
Larry Sher
October Three Consulting
Benefits Think Lump sums vs. life annuities: Leveling the playing field
As an alternative to placing restrictions on lump sum withdrawals, employers could provide retirees more distribution flexibility.
Larry Sher
October Three Consulting
Nearly two-thirds of Americans are confused about this simple way to save for retirement
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.
Retirement benefits for millions may be slashed without pension agency reforms, warns GAO
The Pension Benefit Guaranty Corp. is facing a $54 billion deficit for insuring multiemployer plans in unionized industries, says the GAO report.
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.
Even when IRS says yes, company plans may say no
Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.
7 things retirees need to know about their 2018 tax return
Seniors are more likely to opt for the standard deduction, which increased under the new tax law, but those who want to maximize their deductions have several considerations.
How to avoid cashing out your 401(k)
A recent ruling by the U.S. Labor Department could open the door for automatic 401(k) transfers between employers, which means fewer workers will be tempted to cash out.
3 approaches to setting a withdrawal rate
One approach to determine a retirement withdrawal rate is to set a fixed percentage of their portfolio every year, says an expert. But there are other strategies, as well.
The money in your 401(k) and IRA accounts doesn’t belong entirely to you
Compared to lower earners, clients with moderate and higher incomes will owe more taxes on the distributions from tax-deferred accounts after they retire.
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
Federal workers are yanking money out of retirement accounts
Growing numbers of federal workers have been tapping their retirement funds in a sign of how the government shutdown is squeezing day-to-day finances.
6 ways to make a good 401(k) great
With financial wellness education, full automation and more, employers can help their employees improve their plans.
