28 11, 2018

House proposes ambitious tax package with retirement provisions

2018-11-28T13:52:43+00:00

A legislative tax package with several retirement savings ideas promoted in both the House and Senate was introduced late Monday by House Republicans. One part of the 297-page tax package is the proposed Retirement, Savings and Other Tax Relief Act of 2018. It builds on the Family Savings Act passed by the House in September and incorporates several provisions from the Senate's proposed Retirement Enhancement and Savings Act of 2018, which has not been voted on. A House version [...]

House proposes ambitious tax package with retirement provisions2018-11-28T13:52:43+00:00
27 11, 2018

Americans are retiring at an increasing pace

2018-11-27T14:40:22+00:00

The number of Americans retiring daily has nearly doubled since the year 2000. Currently, roughly 10,000 people turn 65 each day, the standard age for retirement, according to a Deutsche Bank note published Tuesday. And according to Census forecasts, that number is set to rise. It will reach nearly 12,000 people within the next 10 years. By 2030, according to the Census Bureau, all baby boomers will be older than 65. The growth in retiring baby boomers will have [...]

Americans are retiring at an increasing pace2018-11-27T14:40:22+00:00
9 10, 2018

Nearly 40% of Millennials Believe Retirement Saving Can Wait

2018-10-09T09:29:02+00:00

When you're in your 20s, retirement can seem impossibly far away. Investing for something that's some 40 years in the future may feel a bit like taking scarce resources that you need right now, and locking them away for a time that might never come. And even it if will, there's no need to start planning for it today. Later will be fine. Of course, older people know different. They recognize (often with regret over having failed to take [...]

Nearly 40% of Millennials Believe Retirement Saving Can Wait2018-10-09T09:29:02+00:00
24 09, 2018

Retirement Is In Peril For Most Working Class Americans, Warns New Report

2018-09-24T11:16:21+00:00

Retirement is in peril for most working-class Americans cautions a new report by the National Institute on Retirement Security, a Washington think tank. “The American dream of a modest retirement after a lifetime of work now is a middle-class nightmare,” warns the study’s author, NIRS Executive Director Diane Oakley. The report contends nearly four out of five working Americans are falling short of conservative retirement savings targets. Roughly the same number have less than one year’s income saved in [...]

Retirement Is In Peril For Most Working Class Americans, Warns New Report2018-09-24T11:16:21+00:00
17 09, 2018

New Report Finds Nation’s Retirement Crisis Persists Despite Economic Recovery

2018-09-17T16:38:51+00:00

A new research report finds that the retirement savings levels of working age Americans remain deeply inadequate despite economic recovery. An analysis of U.S. Census Bureau data reveals that the median retirement account balance among all working individuals is $0.00. The data also indicate that 57 percent (more than 100 million) of working age individuals do not own any retirement account assets in an employer-sponsored 401(k)-type plan, individual account or pension. The analysis finds that overall, four out of [...]

New Report Finds Nation’s Retirement Crisis Persists Despite Economic Recovery2018-09-17T16:38:51+00:00
17 09, 2018

Retirement issues begin to see activity in Washington

2018-09-17T16:22:43+00:00

Between a recent White House retirement directive and more legislative proposals from Capitol Hill, plan executives and other retirement security advocates are encouraged that, while it might take months or years to see concrete change, Washington is paying attention. "It's been a while since retirement was a big issue," said Jack Towarnicky, executive director of the Chicago-based Plan Sponsor Council of America, a division of the American Retirement Association. The ideas coming out of Washington include promoting open multiple employer plans to allow unrelated businesses access to professionally managed retirement accounts [...]

Retirement issues begin to see activity in Washington2018-09-17T16:22:43+00:00
6 09, 2018

Some U.K. DC plan trustees think their investment strategies will never catch up to DB plans

2018-09-06T15:41:57+00:00

Forty percent of U.K. defined contribution plan trustees who believe that DC investment strategies lack sophistication of defined benefit funds feel they will never catch up, according to a survey by consultant Hymans Robertson. In the 2018 edition of the survey, 42% of U.K. defined contribution plan trustees said DC investment strategies lack the sophistication of those used by defined benefit funds, compared to 58% who felt DC strategies were on par with DB, according to the survey. Half [...]

Some U.K. DC plan trustees think their investment strategies will never catch up to DB plans2018-09-06T15:41:57+00:00
6 08, 2018

‘Too Little Too Late’: Bankruptcy Booms Among Older Americans

2018-08-06T15:23:41+00:00

For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy. The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been building for years. Now, new research sheds light on the scope of the problem: The rate of people 65 and older filing for bankruptcy is three times what it was in 1991, the study found, and the same group accounts for [...]

‘Too Little Too Late’: Bankruptcy Booms Among Older Americans2018-08-06T15:23:41+00:00
18 07, 2018

Retirement savings proposals introduced in Senate, under discussion in the House

2018-07-18T11:26:40+00:00

A bipartisan group of senators introduced a package of retirement savings bills Tuesday that includes making it easier for small employers to join pooled employer plans and giving employers incentives to use automatic enrollment and automatic escalation features. Some of the features of the four bills in the package mirror ideas advanced by the Senate Finance Committee in the proposed Retirement Enhancement and Savings Act of 2018. RESA, introduced in March, also would ease nondiscrimination testing rules for plan [...]

Retirement savings proposals introduced in Senate, under discussion in the House2018-07-18T11:26:40+00:00
17 07, 2018

Here’s Why I Plan to Take Social Security at 64

2018-07-17T09:16:16+00:00

When to start collecting Social Security benefits is a big decision that most of us will have to make. There are good reasons to start early and good reasons to start late, which can make it all rather vexing. Here's a look at when one financial writer -- that's me -- plans to start collecting and why. See if my thought process can help inform your own. First things first -- meet the "full retirement age" You may not [...]

Here’s Why I Plan to Take Social Security at 642018-07-17T09:16:16+00:00
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