For nearly a quarter century, employers have been able to offer their retirement savings plan participants age 50 and older a valuable opportunity — the chance to make additional catch-up contributions to their plan.1 Thanks to the SECURE 2.0 Act passed in 2022, that opportunity became even more valuable: Employers may now allow plan participants age […]
Read MoreCategory: Retirement Planning
Alternative Investments May Be Coming to 401(k) Plans
On August 7, 2025, President Trump signed an executive order directing the Department of Labor (DOL) to investigate how alternative investments, including private assets and cryptocurrency, might become more easily accessible to investors in work-based retirement plans. Celebrated by some and criticized by others, the order paves the way for retirement savers — and at […]
Read MoreNew Senior Deduction Explained
Beginning in 2025, seniors can take advantage of a new $6,000 tax deduction that may help them cover the rising costs of housing, health care, and daily living by potentially allowing more of their income to remain untaxed. The deduction, part of the One Big Beautiful Bill Act (OBBBA) enacted in July 2025, will be […]
Read MoreSocial Security and Medicare 2025 Trustees Reports: It’s Time to Address Funding Concerns
Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs’ current financial condition and projected financial outlook. These reports have warned for years that the trust funds would be depleted in the not-too-distant future, and the most recent reports, released on June 18, 2025, […]
Read MoreRoll Over the Remaining Interest of an Inherited IRA or Retirement Plan
What is it? If your spouse dies and you are a primary beneficiary of their traditional IRA or retirement plan account, you may be able to roll over the inherited funds to your own traditional IRA or plan account. This is generally true even if your deceased spouse had begun taking required minimum distributions (RMDs) […]
Read MoreThere’s Still Time to Fund an IRA for 2024
The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2024. If you had earned income last year, you may be able to contribute up to $7,000 for 2024 ($8,000 for those age 50 or older by December 31, 2024) up until your tax return due date, […]
Read MoreIRS Delays Certain RMD Regulations Until 2026
Late last year, the IRS announced a delay in the application of proposed regulations interpreting certain changes to the required minimum distribution (RMD) rules made by the SECURE 2.0 Act of 2022. The IRS originally said the proposed regulations would take effect in 2025 to align with the implementation of other regulations governing RMDs for […]
Read MoreDreaming of Retirement? Consider Maxing Out Your 401(k) in 2025
About 70% of U.S. private-sector workers have the option to contribute to a retirement plan such as a 401(k), 403(b), or 457(b) plan provided by an employer. Unfortunately, many of them don’t take full advantage of this tax-friendly opportunity to save for the future.1 The SECURE Act and SECURE 2.0 Act (federal legislation passed in […]
Read MoreRequired Distributions: Changes You Need to Know
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts to be emptied within 10 years of the original owner’s death, with some exceptions. Where an exception applies, the entire account must generally be […]
Read MoreRetirement Confidence Edges Up, With Some Optimism
After falling in 2023 by the widest margin since the 2008 financial crisis, retirement confidence began to edge back up in early 2024. According to the Employee Benefit Research Institute’s 2024 Retirement Confidence Survey, workers who said they are at least somewhat confident in their ability to afford a comfortable retirement rose to 68%, up […]
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