Retirement

The SECURE Act Signed into Law

President Trump signed the Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, into law December 20.  Included in the federal government’s recent spending bill, the Secure Act is designed to help Americans increase and preserve their retirement savings. The provisions in the SECURE Act bring a number of changes, …

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Charitable Giving for Retirees

Retirees age 70.5 and older must take required minimum distributions (RMDs) annually from their Traditional IRA accounts. The RMDs are counted as taxable income in the year distribution is taken. Combined with Social Security benefits and other income sources, RMDs often push many people into higher tax brackets.  Retirees that find themselves in these brackets …

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2020 Contribution Limits

The IRS has announced Cost-of-Living adjustments for contribution limits to 401(k)s and other qualified plans for 2020. Contributions to IRAs will remain the same. See the chart below to see how the changes will affect you. Type of Limitation 2020 2019 401(k), 457 and 403(b) maximum annual elective deferral limit $19,500 $19,000 401(k), 403(b), or …

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FIRE: Four Things You Need to Know About This Hot Retirement Movement

Many workers look forward to the day they can finally retire, and for some, an early retirement would be a dream come true. Others are turning this dream into a reality by retiring in their 30s or 40s. But how are they able to do it? A hot retirement trend called Financial Independence, Retire Early …

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Take This Quiz: The Social Security Retirement Earnings Test

Can you work and receive Social Security retirement benefits at the same time? Yes, but the Social Security Administration (SSA) will apply an earnings test. Part or all of your monthly benefit may be withheld if you earn too much. To help avoid surprises, take this quiz to find out what you know — and …

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