For Our Clients

Educational Resources

Category: Retirement

27 posts categorized as "Retirement"

National 401(k) Day Highlights the Importance of Retirement Planning

Sep 10, 2021

By Edward “Ed” V. O’Neal, Senior Vice President and Manager, Retirement Plans

Most people have a mental picture of what their retirement years will look like. For some it might include exciting travel destinations or daily golfing excursions, and for others it might include volunteering or starting a long-overdue business venture. National 401(k) Day, celebrated every year on the Friday after Labor Day, serves as a great reminder that participation in a 401(k) can be a great tool for helping fulfill those retirement goals.

Read More

If You Retire Early, Watch Out for IRS Penalities

Aug 25, 2021

By Theresa Fry, Senior Vice President and Manager, IRA’s, Retirement & Education Planning

If there is one thing that this past year and a half has taught us, it’s that life doesn’t always go according to plan. If you find yourself in a situation where you are retiring early – whether by choice or by circumstance – and you need to access the money in your retirement accounts earlier than you expected,

Read More

Planning for Sustainable Retirement Income

Aug 18, 2021

By Eric Estelle, Manager, Financial Planning & Marketing

Retirement can be both a joyous occasion and a scary proposition. For many, the thought of no longer having a steady paycheck causes enough anxiety to overshadow the accomplishment of reaching retirement. There are several common questions that come with the prospect of retirement. When can I afford to retire? Will I be able to fund my living needs? Can I afford to travel,

Read More

Annuity Lifetime Guaranteed Income Gives Confidence

Aug 11, 2021

By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance

There is little argument that equities have produced impressive returns over a long period of time, but retirees and pre-retirees often begin to ask themselves questions such as, “How much risk am I still willing to take?” and “How afraid am I that I may run out of money?” Most companies no longer offer a pension, leaving social security as the only form of “guaranteed” income in retirement.

Read More

Is Your Three-Legged Stool Wobbly?

Aug 9, 2021

By Theresa Fry, Senior Vice President, Manager of IRA’s, Retirement & Education Planning

The description of the three-legged stool for retirement income has been a staple in planning for a long time. The three components or “legs” of the stool are: pensions, Social Security, and personal savings. The idea is that you need all three legs, providing equal resources for your retirement income, to keep your retirement stable.

Read More

Tax Tip Tuesday: SEP IRAs and Some New Retirement Plan Reminders

Mar 16, 2021

By Edward “Ed” V. O’Neal, Senior Vice President and Manager, Retirement Plans

Now that we’re deep into the “dog days” of tax season, this is a time when many business owners are intently seeking ways to limit their tax burden and/or searching for opportunities to increase retirement savings. Employer-sponsored retirement plans represent a great way to accomplish both of those goals simultaneously. Additionally, the Setting Every Community Up for Retirement Enhancement (SECURE) Act,

Read More

Scary Financial Mistakes: Failing to Update Your Beneficiary Designations

Oct 22, 2020

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

Having the details of your personal and financial life made public would be horrifying for most people. Yet, I see it all the time with IRAs, 401(k)s and other retirement account assets. Two common situations that can cause your private financial matters to be made public are not naming a beneficiary and forgetting to update your beneficiary designations after divorce.

Read More

Scary Financial Mistakes: Entering Retirement Without Enough Guaranteed Income

Oct 15, 2020

By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance

In addition to the usual financial risks we have such as inflation risk, market risk, and economic risk; there is another risk to confront in retirement: longevity risk, which is the risk of outliving your retirement assets. When planning for retirement, living too long can be a scary proposition, especially for those with a projected long-life expectancy.

Read More

Scary Financial Mistakes: Retirement Planning Pitfalls

Oct 8, 2020

By Edward “Ed” V. O’Neal, Senior Vice President and Manager, Retirement Plans

As we get closer to Halloween, it’s natural to think about the things that scare us. For many, it’s something very specific like spiders, ghosts or even clowns! For others, it’s simply the fear of the unknown. And for those that are planning for and nearing retirement, ensuring that the correct preparation and steps are in place to meet their retirement goals can be a downright frightening thought.

Read More

IRS Provides Potential Relief for Employers on Retirement Plan Costs

Aug 6, 2020

By Edward “Ed” V. O’Neal, Senior Vice President and Manager, Retirement Plans

The COVID-19 pandemic and the corresponding economic downturn has caused many employers to make some tough financial decisions in meeting their operational and payroll obligations. As employers continue to look for cost-cutting strategies, many have contemplated the reduction or suspension of employer contributions to their 401(k) or 403(b) plans. The process of suspending or reducing employer contributions to retirement programs can be particularly challenging for employers sponsoring a safe harbor 401(k) or 403(b) plan.

Read More