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Retirement Planning

Secure Act 2.0 Brings Big Changes to Retirement Plans in 2023 By Olga Ismail

Posted February 1, 2023

The beginning of a new year often comes with many changes. For 2023, some of the most significant transformations are occurring in the retirement industry, thanks to the recent passage of the SECURE Act 2.0. While some of the new law’s provisions will not take effect until future years, others will need to be addressed […]

Staggered Retirement Requires Married Couples to Plan Carefully By Lee F. Hediger

Posted December 15, 2022

Spouses saving for an eventual retirement during their working years often have different timelines for leaving the corporate world behind. While a difference in retirement dates can eliminate one income stream and help couples ease slowly into their golden years, careful planning can help ensure their financial goals stay on track. Following are three tips […]

7 Year-End Strategies for Retirement Savers By Kathleen Marteney, CRPC®

Posted November 10, 2022

With the end of the year around the corner, you have a limited amount of time to maximize your retirement savings opportunities in the most tax-efficient manner. Following are some steps to consider taking before December 31. Max out your contribution to a workplace 401(k) retirement plan. For 2024, the maximum amount you may defer […]

IRS Clarifies SECURE Act Rules for Withdrawals from Inherited IRAs By Sean Deviney, CFP®*

Posted August 25, 2022

The SECURE Act signed into law at the end of 2019 brought new restrictions to non-spouse beneficiaries of inherited individual retirement accounts (IRAs), requiring them to empty those accounts within 10 years of the original owner’s death and pay the taxes due. Not only was the new law bad news for beneficiaries who were previously […]

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 […]

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