Tag Archives: 401k

Memorable vacations do not happen by chance. They require a certain level of effort and advance planning to ensure that you stay within your budget and maximize your actual time away for fun, sightseeing and relaxation. The more you plan, the more likely your getaway will meet your expectations. With this in mind, it is […]

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 […]

Like many estate-planning strategies, the decision of whether to invest in a traditional 401(k) retirement savings plan or a Roth 401(k) comes down to taxes. More specifically, does it make more sense for you to pay taxes on your withdrawals in the future after you reach 59½ years old, or on the contributions you make […]

Businesses that offer their workers access to 401(k) retirement plans and similar defined-contribution plans have a July 31, 2022, deadline to file IRS Form 5500, reporting the details of their plan’s financial assets, its sources of funding, administrative expenses, number of active participants and benefits paid out to participants. Smaller plans with fewer than 100 […]

The pandemic and ensuing “Great Resignation” are accelerating an already concerning rate of leakage from employers’ 401(k) plans, negatively impacting both employers’ costs and plan participants’ retirement readiness. In this environment, it is especially critical for businesses to educate employees about the rules for early withdrawals and separations from service and the options available to […]

Social Security recipients are receiving a 5.9 percent increase in benefits for 2022, marking the largest cost of living adjustment (COLA) in 39 years for the nation’s retirees and special needs children and adults. With this adjustment, more than 64 million retirees will begin receiving $1,657 in Social Security benefits per month beginning in January […]

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 […]

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 […]

A Roth IRA is a unique retirement savings vehicle that allows eligible individuals to set aside money today for a potentially tax-free income stream in the future. Like a traditional IRA, a Roth arrangement allows individuals to make annual contributions of up to $6,000 in 2022, or $7,000 for savers age 50 and older. That […]

As the Biden Administration crystalizes its campaign promise of tax reform, one thing is clear: there is a likely chance that wealthy taxpayers will pay higher taxes on income and investments in the future. Preparing for this potential shift requires efficient estate planning and nimble execution. The current administration calls for increasing the top income […]