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Category: Retirement

18 posts categorized as "Retirement"

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.

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Take a 2020 ‘RMD’ Holiday

Mar 31, 2020

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

If you find your spring holiday plans disrupted by the coronavirus, you may be encouraged that the federal government has planned another type of holiday appealing to retirement account holders.

The holiday? In addition to the federal stimulus checks, small-business loans and tax breaks making the headlines, the Coronavirus, Aid, Relief, and Economic Security (CARES) Act passed March 27 also makes available some relief for retirement account owners.

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The SECURE Act is Designed to Expand & Preserve Savings. Here’s What You Should Know.

Mar 11, 2020

By Theresa Fry, Senior Vice President and Manager, IRAs, Retirement and Education Planning

 

 

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Prioritize Your Financial Future with New Retirement Plan Contribution Limits and Rules

Jan 21, 2020

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

Now that we’ve had a chance to ring in the beginning of a new year, and new decade, many are starting to turn their attention to important new year resolutions, such as focusing on approaches for managing your money more responsibly and effectively.  Although this may sound simplistic, for many, the ability to commit to a disciplined savings plan can be a challenge requiring both commitment and a clear strategy.

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What is “Key Employee” Life Insurance?

Sep 17, 2019

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

All businesses, regardless of their size, have key employees that are invaluable to the success of the company.  The death of an individual whose services are important to a business will almost certainly cause considerable losses and costs to the business. For example, some customers or clients with whom the key employee enjoyed a close relationship may choose to not stay with the business,

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New State-Run Retirement Plans Can Impact Business Owner Decisions

Sep 10, 2019

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

Business owners have historically viewed employer retirement plans, like 401(k)s, as an effective solution for their own individual retirement savings, a mechanism for attracting and retaining employees or as a business tax saving strategy.  Yet despite the potential advantages, a survey indicated that many businesses, particularly small business owners, hesitate to sponsor their own 401(k) programs due to the cost and administrative headaches.*  As a result, 

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National 401(k) Day is a Reminder of the Importance of Helping Workers Stay on Track for Retirement

Sep 3, 2019

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

With National 401(k) Day scheduled for this week – September 6th, I started thinking about how 401(k) plans have evolved since their beginning.  For example, for years business owners gauged the success of their 401(k) plans solely by the number of employees participating in the plan.  But increasingly, many 401(k) plans are starting to determine their merits by how successfully their employees are on track for meeting their retirement savings goal. 

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Diversify and Modernize Your Income Sources

Aug 28, 2019

By Pete Biebel, Senior Vice President

Investors who are entering the autumn of their investing career might want to put a little spring into the income side of their portfolios.  As investors approach their retirement years they typically de-risk their portfolios, shifting out of riskier equity investments and into more stable income-producing assets.  In the olden days, that shift was accomplished by buying bonds.  While investors were able to diversify their bond portfolios by holding a variety of sectors and maturities,

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Can I Collect Social Security from My Ex?

Aug 21, 2019

By Theresa Fry, Senior Vice President and Manager, IRAs, Retirement and Education Planning

Many people find Social Security decisions confusing, but if you are or were previously divorced, understanding what your options are can be even more complicated.  When I talk with clients about Social Security collection strategies, there are two common questions I often hear regarding divorce and Social Security.  The first is always “Can I collect Social Security from my ex?” This is usually quickly followed by “What happens if my ex remarries/remarried?”

Can I Collect Social Security from My Ex?

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Longevity Risk: Live Long and Prosper

Aug 14, 2019

By Dan Schulte, 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. Longevity risk is the risk of outliving your retirement assets, due to an increased life expectancy. Often these risks are underestimated by pre-retirees. According to a recent survey conducted by Nationwide Mutual Insurance Company1,

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