Categories

Retirement Planning

401(k) Plan Sponsors Get More Time to Adopt Amendments By Olga Ismail

Posted August 17, 2022

The IRS recently issued guidance extending the deadline for retirement plans and individual retirement accounts (IRAs) to adopt amendments reflecting legislation passed into law in 2019 and 2020. The previous deadline for calendar year plans has been postponed from December 31, 2022, to December 31, 2025. The additional time is good news for sponsors and […]

Are More Changes Ahead for Retirement Savings? By Brendan T. Hayes

Posted August 3, 2022

Since Congress first passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) in 2019, it has been working on a secondary package of regulations to further expand taxpayers’ access to workplace retirement plans and improve their financial security during their golden years. The proposed regulations, commonly referred to as Secure Act 2.0, […]

You’re Never too Young to Begin Estate Planning By Sean Deviney, CFP®*

Posted May 19, 2022

Planning for retirement is often the last thing recent college graduates consider upon entering the job market and earning a steady income. However, there is no minimum age when people should start thinking about saving for the future, whether it is for the purchase of a new car or home, to support a growing family, […]

Claiming Social Security After the Loss of a Spouse By Kathleen Marteney, CRPC

Posted May 3, 2022

According to the Social Security Administration, Social Security retirement benefits replace, on average, 40 percent of an individual’s pre-retirement income. As a general rule, the longer you wait to begin claiming these benefits, the larger the monthly benefit you will ultimately receive. While this principle seems simple enough, the types of benefits and claiming strategies […]

It’s Not too Late to Reduce your 2021 Tax Bill By Lee F. Hediger

Posted March 16, 2022

Your income-tax liabilities for a particular year generally are set by the time the clock strikes midnight on December 31. However, there are some last-minute moves you can make in the New Year to reduce your tax bill before the individual income tax filing and payment deadlines in April. Max Out Retirement Savings Opportunities You […]

How Women Can Establish Financial Independence Following Divorce By Kathleen Marteney, CRPC

Posted November 2, 2021

The emotional rollercoaster individuals endure during and after a divorce can be debilitating. Equally devastating are the financial fallouts that can ensue from these life transitions. However, there is a ray of sunshine beyond the storm when women take a moment to assess the facts of their newly single life and rebuild a solid financial […]

Where You Put your Money Matters By Robert Mark Weiss, CFA

Posted September 23, 2021

Novice investors often use the terms saving, investing and speculating interchangeably.  However, there are significant differences between each of these approaches to wealth accumulation. Savvy investors will understand these distinctions and recognize when one strategy may be preferential to another. Saving The dictionary defines saving as preservation from danger or destruction. When applied to personal […]

Your 401(k) Is Not an Emergency Savings Account By Olga Ismail

Posted August 12, 2021

Saving for retirement through an employer’s 401(k) plan is a great way to invest in yourself – both for today and for your future. With each contribution to your plan, you essentially pay yourself (rather than Uncle Sam) and allow those payments to stay invested in the market, where they have the potential to grow […]

Department of Labor Issues First-Ever Cyberthreat Guidance for Retirement Plan Fiduciaries By Sean Deviney, CFP®

Posted July 6, 2021

The Department of Labor’s Employee Benefits Security Administration (EBSA) recently released cybersecurity guidance to help retirement plan sponsors (employers and business owners), record keepers and other plan fiduciaries mitigate the growing risks of cyber threats, including fraud and identity theft. According to the EBSA, employer-sponsored retirement plans regulated by the Employee Retirement Income Security Act […]

Is it Time for a Financial Checkup? by Scott Montgomery, CLU, ChFC

Posted October 21, 2020

Mitigating investment risk and preparing portfolios and estate plans for an uncertain future requires investors to meet with their financial advisers on a regular basis, and especially mid-year, to ensure that long-term plans remain on track. Here’s a checklist of topics to consider: Are my investments still aligned with my long-term goals? Whether saving for […]

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