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<< Older News  |  September 17, 2021

News

All News > Retirement Plan Information for Employees

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How to Save Taxes with the Net Unrealized Appreciation Rules for Company Stock in a 401(k)
Kristin McKenna via Forbes; subscription may be required Link to more items from this source
Sept. 8, 2021

"Under the net unrealized appreciation rules, employees can roll over the portion of their 401(k) invested in company stock to a brokerage account and pay tax at more favorable long-term capital gains tax rates (rather than higher ordinary income rates) when the shares are sold. It doesn't always make sense to use NUA -- or keep employer stock in your retirement plan -- so carefully weigh the pros and cons."

Tags: Misc. Distribution Issues  •  Retirement Plan Information for Employees

Editor's Pick An Employee's 401(k) Plan Guide
Morningstar Link to more items from this source
Sept. 3, 2021

"[This special report addresses] how to make the most of 401(k) plans today. [It includes] tips for how to invest in your plan and what to do if your plan is sub-optimal ... what alternatives you have for retirement saving if you don't have access to a 401(k) plan [and] ... some ideas for how to reform the retirement savings system over time[.]" [Specific reports are:  [1] 100 Must-Know Statistics About 401(k) Plans; [2] What Should I Do If I Don't Have a 401(k)? and [3] A Checklist for Lobbying [Your Employer] for a Better 401(k).]"

Tags: 401(k) Plans  •  Retirement Plan Design  •  Retirement Plan Information for Employees  •  Retirement Plan Investments

Questions Retirees Often Get Wrong About Taxes in Retirement
Kiplinger Link to more items from this source
Aug. 30, 2021

"Now that you've put together your retirement nest egg, you want to make sure that you're not overpaying Uncle Sam. To help you evaluate your current tax knowledge, here are 12 questions retirees often get wrong about taxes in retirement."

Tags: Misc. Distribution Issues  •  Retirement Plan Information for Employees

IRS FAQs: Substantially Equal Periodic Payments
Internal Revenue Service [IRS] Link to more items from this source
[Guidance Overview]
Aug. 17, 2021

"[1] Is there an exception to the tax for distributions in substantially equal periodic payments? ... [2] Is there guidance on this exception? ... [3] How are interest rates determined? ... [4] How is life expectancy determined? ... [5] How is the account balance determined? ... [6] How are payments determined under the three methods? ... [7] Can I change from one method to another in calculating substantially equal periodic payments? ... [8] What is the effect of an account being completely depleted? ... [9] Are these the only acceptable ways of determining substantially equal periodic payments? ... [10] Can I take my substantially equal periodic payments on a monthly basis? ... [11] When do I fulfill my obligation to take substantially equal periodic payments?"

Tags: Misc. Distribution Issues  •  Retirement Plan Information for Employees

RMDs Are Back: How to Soften the Tax Blow
ORBA Link to more items from this source
Aug. 4, 2021

"Take your first RMD early ... Make a Qualified Charitable Distribution (QCD) ... Invest in a Qualified Longevity Annuity Contract (QLAC) ... Continue working."

Tags: Required Minimum Distributions (RMDs)  •  Retirement Plan Information for Employees

Understanding the Basics of Annuities
EisnerAmper Link to more items from this source
Aug. 4, 2021

"[N]ot all annuities are the same ... Some might fit your situation and preferences, some may not. Some have high commission costs, and others do not. Avoiding them completely is like ignoring a tool in your toolbox that might be exactly what you need. There are many types of consumer annuities available; each with its own unique characteristics."

Tags: Retirement Plan Information for Employees  •  Retirement Plan Investments

The Mega Backdoor Roth: Here We Go Again
DWC Link to more items from this source
July 29, 2021

"The Mega Backdoor Roth comes into play in one of two ways. The individual either takes an in-service withdrawal and rolls it to a Roth IRA or utilizes an in-plan Roth rollover feature to convert to Roth within the plan. This may sound like a complicated cool investment strategy, but it RARELY works."

Tags: Misc. Distribution Issues  •  Retirement Plan Design  •  Retirement Plan Information for Employees

The Truth About Paying for Long-Term Care in Retirement
Forbes; subscription may be required Link to more items from this source
July 8, 2021

"Despite report after report telling today's seniors that whatever savings they have will be consumed by exorbitant long-term care costs in the decades to come, these concerns may be overblown. A recent study ... sifted through a trove of real-life data and found that less than a quarter of 65-year-olds will require the type of intensive care -- both in terms of severity of the illness and length of recovery -- that causes so much financial drain."

Tags: Retirement Plan Design  •  Retirement Plan Information for Employees

The Mysterious Order of Asset Withdrawal
MSN News Link to more items from this source
July 6, 2021

"Even though there is retirement software telling you that if you play the retirement tax game just right you can spend 10% more money per year, you are likely going to spend about what you did pre-retirement.... Tax law regarding brackets, inheritance rules, RMDs, capital gains treatment, step-up in cost basis, etc. will change many times during a 25-year retirement. The assumptions made for your withdrawal plan may be moot in 18 months. It's better to be flexible than try to be 'perfect.' "

Tags: Misc. Distribution Issues  •  Retirement Plan Design  •  Retirement Plan Information for Employees

Investing During Retirement: Income Allocation Planning
Kiplinger Link to more items from this source
June 28, 2021

"[W]hen planning for retirement income, include a financial product designed for lifetime income: annuity payment contracts. And reduce your 'income risk' by adding safe income first. Manage any residual income risk in real time as market corrections, emergencies or life events occur, rather than through upfront simulations of hypothetical results."

Tags: Retirement Plan Design  •  Retirement Plan Information for Employees  •  Retirement Plan Investments

401(k) Rollovers: How to Make an Informed Decision
Employee Fiduciary Link to more items from this source
June 23, 2021

"To retire as soon as possible, you must avoid three pitfalls when saving throughout your working years -- underperforming investments, inappropriate asset allocation, and excessive administration fees.... The 401(k) and IRA features you want for the long-term [are] ... market returns ... professional investment advice ... minimal administration fees ... The key differences between 401(k) and IRA accounts [are listed side-by-side]."

Tags: 401(k) Plans  •  Retirement Plan Information for Employees  •  Rollovers

How Can We Retire Early Without Paying So Much in Taxes?
The Madison Leader Gazette Link to more items from this source
June 21, 2021

"Is it worth just paying the 10% penalty on early withdrawals versus paying tax and converting a large amount of the former 401(k) plans to a Roth? My company does allow withdrawals through the rule of 55 but you have to withdraw it all and I know I don't want that tax liability."

Tags: Misc. Distribution Issues  •  Retirement Plan Design  •  Retirement Plan Information for Employees

Why Americans Should Stop Using 401(k)s Like Piggybanks
Business Insider Link to more items from this source
[Opinion]
June 16, 2021

"Taking these early distributions can result in a loss of 25% of total retirement savings over time. Withdrawing a small balance instead of rolling it over is particularly harmful for younger workers."

Tags: 401(k) Plans  •  Misc. Distribution Issues  •  Retirement Plan Information for Employees

Want to Write a Killer Letter to Appeal a Claim Denial? Meet Jeannine
Kaiser Health News Link to more items from this source
June 14, 2021

"Jeannine Cain started her career working for medical offices -- dealing with insurance companies on their behalf -- then worked for Blue Cross, and now as a health care data consultant.... When her son got an unfair, jumbo-size medical bill, she put her knowledge to work -- and wrote a killer appeal letter. Now she's sharing that knowledge -- and the letter ... [a]long with annotations about how she structured the letter and why she included the specifics that she did."

Tags: Retirement Plan Administration  •  Retirement Plan Information for Employees

Essentials for a Successful Retirement
Kiplinger Link to more items from this source
June 14, 2021

"Retirement is the longest vacation you will ever take.... [Be] as specific as possible about what your lifestyle expenses will be as well as your general living expenses.... Successful retirees should not let the market dictate their happiness.... Taxes are something retirees seem to underestimate."

Tags: Misc. Distribution Issues  •  Retirement Plan Design  •  Retirement Plan Information for Employees

If You've Dipped Into Savings, Here's How to Get Your Retirement Account Back on Track
ORBA Link to more items from this source
June 14, 2021

"If you withdrew or plan to withdraw tax-deferred savings as a result of financial hardship, you will need a strategy for getting your retirement plan back on track.... Consider recontributing some or all of the distributed funds within three years or increasing your contributions to make up for the lost time. Be sure to amend your tax return if you report distributions as taxable income and later return them to the account within the three-year period."

Tags: Misc. Distribution Issues  •  Retirement Plan Information for Employees

Should My Money Stay or Go? Employer 401(k) vs. IRA Rollover
Kiplinger Link to more items from this source
June 11, 2021

"Employers are the newest contenders for the rollover assets from your retirement plan. Here's what to consider when leaving your job and choosing whether to leave your money in your old employer's defined contribution plan or roll it over to an IRA."

Tags: 401(k) Plans  •  Retirement Plan Information for Employees  •  Rollovers

Money Management During Retirement
Meld Financial, Inc. Link to more items from this source
June 8, 2021

"Now that you've retired, your income situation is likely quite different than while you were working. That means your money management techniques may need some adjustments. Here's a few things to keep in mind as you enjoy your retirement years."

Tags: Misc. Distribution Issues  •  Required Minimum Distributions (RMDs)  •  Retirement Plan Design  •  Retirement Plan Information for Employees

Missing the 401(k) Plan Match
TriStar Pension Consulting Link to more items from this source
June 8, 2021

"Depending on when the plan sponsor chooses to calculate and contribute matching dollars, an employee contributing the maximum amount of deferrals ($19,500 for 2021) may miss some of their potential matching funds if they try to contribute all of it early in the year rather than equally out of each paycheck during the year."

Tags: 401(k) Plans  •  Retirement Plan Design  •  Retirement Plan Information for Employees

Continuing to Work, Even at a Job Without Benefits, Boosts Retirement Income
Squared Away Blog, by the Center for Retirement Research at Boston College Link to more items from this source
June 1, 2021

"Retirement security improved over time for the under-prepared people who continued to work -- in contrast to an erosion in security for the people who, despite falling short, had retired at 62 and locked in a small Social Security check. The most interesting finding concerned the older workers who had extended their employment by switching to no-benefit jobs. Their retirement income in their late 60s replaced 68 percent of their past earnings, on average -- still less than what they need but up dramatically from 52 percent if they had retired early."

Tags: Retirement Plan Design  •  Retirement Plan Information for Employees

Planning for Your Retirement: A Checklist
Kiplinger Link to more items from this source
May 27, 2021

"With the caveat that the when of retirement may be out of your control -- if you're, say, forced to retire earlier than planned or need to stay on the job longer to make up for gaps in your savings -- here's a list of items to check off when you're 10 years, five years and one year away from your expected retirement date."

Tags: Retirement Plan Design  •  Retirement Plan Information for Employees

Five Retirement Risks and What to Do About Them
MassMutual Link to more items from this source
May 11, 2021

"[1] Low interest rates ... [2] Market volatility ... [3] Withdrawal timing and sequence of returns risk ... [4] Government policy uncertainty ... [5] Increasing longevity."

Tags: Retirement Plan Design  •  Retirement Plan Information for Employees  •  Retirement Plan Investments

A Tax-Savvy Approach to Help Make the Most Out of Your Retirement Income
T. Rowe Price Link to more items from this source
Apr. 30, 2021

"Consider using your low tax bracket strategically by consistently 'filling up' that bracket with ordinary income from tax-deferred account distributions.... [T]hose who have a healthy portion of assets in taxable accounts may be better served by taking advantage of untaxed capital gains than by taking tax-deferred distributions to fill up ordinary income brackets."

Tags: Misc. Distribution Issues  •  Retirement Plan Design  •  Retirement Plan Information for Employees

Retirement Plan Literacy for Participants: Spousal Consent
Pension Rights Center Link to more items from this source
Apr. 29, 2021

"A plan participant cannot take any actions that would reduce their spouse's future survivor benefit without the spouse's consent. It is not uncommon, however, for spouses to give up the survivor benefit and later regret this decision."

Tags: Retirement Plan Administration  •  Retirement Plan Information for Employees

Retirement Plan Literacy: Answers to Common Employee Questions
Pension Rights Center Link to more items from this source
Apr. 26, 2021

"I can't find the company I worked for many years ago. How can I locate the company to apply for my retirement benefit? ... My pension plan is offering me a lump sum payment. Should I take it instead of a lifetime monthly benefit?"

Tags: Retirement Plan Information for Employees


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