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10 things to know about RMDs

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Required minimum distributions, or RMDs, are something that retirees and those who plan to retire need to learn about. Those who don’t could be in for some pretty unpleasant—and expensive—surprises. So what exactly is an RMD? According to the IRS, it’s the minimum amount of money you have to withdraw from a retirement account every …

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White House vows to protect retirement savings under tax plan

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Under President Trump’s aggressive plan to overhaul the country’s tax code, “retirement savings will be protected,” according to Gary Cohn, Trump’s chief economic advisor and director of the National Economic Council. During a press conference rolling out the framework for the White House’s plan for tax reform, Cohn and Treasury Secretary Steve Mnuchin said the …

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Retirement planning for employees: Why and how employers should help

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While retirement planning is becoming a priority for financially aware Americans, most of the working population still lacks the know-how to make the right investments. Although improving awareness about retirement savings and investments is important in schools, part of the responsibility is passing to employers as well. Employers are increasingly becoming aware of the need …

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What is an ERISA fiduciary?

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The Employee Retirement Income Security Act (ERISA) was enacted in 1974 to protect employees who participate in retirement plans and certain other employee benefit plans. At the time, there were concerns that pension plan funds were being mismanaged, causing participants to lose benefits they had worked so hard to earn. ERISA protects the interests of …

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Are you ready to retire?

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Five questions to ask yourself when deciding whether or not you are ready to retire. Is your nest egg adequate? It may be obvious, but the earlier you retire, the less time you’ll have to save, and the more years you’ll be living off your retirement savings. The average American can expect to live past …

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