Retirement withdrawals

Employee retirement contributions soared 15% from last year, Fidelity Investments says.

One state has two of the top three cities in terms of boomer debt.

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.

As an alternative to placing restrictions on lump sum withdrawals, clients could provide retirees more distribution flexibility.

As an alternative to placing restrictions on lump sum withdrawals, employers could provide retirees more distribution flexibility.

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

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.

Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.

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.