Although a higher percent of American workers are participating in employer-sponsored retirement plans, retirees may still not be saving enough for their retirement and may risk outliving their retirement assets. More individuals are also withdrawing retirement savings before they actually retire. Those are the findings in a report recently released by the Treasury Inspector General for Tax Administration (TIGTA). (more…)
The IRS recently announced cost of living adjustments affecting dollar limits for pension plans and other retirement-related items for 2011. The limits generally remain unchanged or reflect small inflation adjustments. Here are the highlights: (more…)
The Small Business Jobs Bill, which was recently signed into law by President Obama, includes a provision that will add some additional planning opportunities for participants of 401(k) plans with Roth provisions. Roth IRA accounts are after-tax monies that grow tax-free. Distributions from the accounts can be made without any tax consequence. This provides additional flexibility to taxpayers when planning for retirement or death transfers. One of the main estate planning benefits of Roth IRA accounts is that the minimum required distribution provisions do not apply to them. (more…)
Urgent Message from Your Future: Save Today for Tomorrow
When it comes to saving for retirement, there is never a better time than today to assess your prospects toward meeting your goals. And with our nation’s leaders declaring Oct. 17 through Oct. 23 as National Save for Retirement Week, you have a great opportunity. (more…)
Large employers are hesitant to institute automatic enrollment for their retirement savings plans, according to a recent survey conducted by AARP. Nearly 60 percent of the employers surveyed noted that they did not have automatic enrollment in the 401(k) plans. (more…)
The past several months have certainly been rocky for 401k investors. And while the rollercoaster ride may not be over, the stock market appears to be showing signs of improvement. So what can your business do now that the comeback is underway? (more…)
Beginning January 1, 2010, businesses with 500 or fewer employees could offer a new plan called a DB(k). The DB(k) was authorized by Congress as part of the 2006 Pension Protection Act. The DB(k) melds a 401(k) savings plan with a small guaranteed income stream. The key elements of the plan: (more…)
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