Tag Archives: retirementplans

Congress passed the CARES Act on March 25, 2020, to provide immediate economic assistance to individuals, families and businesses struggling during the COVID pandemic. Among the law’s provisions was an opportunity for qualifying individuals to take penalty-free early withdrawals of as much as $100,000 from their 401(k), 403(b) and IRA retirement plans during calendar-year 2020. […]

As college graduates embark on their professional careers, they should consider the following savings strategies to help prepare them for a sound financial future. Like most things in life, the earlier you start planning and preparing, the more likely you will achieve your goals. Employer-Sponsored Savings Plans While retirement may seem like a long way […]

One of the primary objectives of financial planning is to ensure that individuals have more than ample spendable cash flow during all of their retirement years. Navigating the careful balance between spending too much and possibly running out of funds or spending too little and missing out on all of the potential joys of retirement […]

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, […]

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 […]

After years of diligent saving, you probably built a significant nest egg to afford a comfortable retirement, but that doesn’t mean you’re ready to put your feet up and coast through your golden years. Preparing for retirement requires having a plan in place to address your spending habits, rising health care costs, changing tax laws […]

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 […]

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 […]

In our busy lives, it is not uncommon to put off for tomorrow the things we do not have time for today. This is especially true for those things that make us uncomfortable or that require a significant commitment of time and effort to squeeze into our already hectic schedules. However, by sweeping these issues […]