Via PlanSponsor By John Manganaro RETIREMENT INDUSTRY ANALYSTS broadly agree the passage of the “SECURE Act” late last year marked the most significant change for the retirement industry in more than a decade. The landmark legislation includes substantial adjustments to the regulatory systems controlling the operation of defined contribution (DC) plans, pension plans, individual retirement accounts (IRAs) and 529 college saving plans. It also creates a new marketplace for “open … Continue reading (Mid-America Pension Rights Project): Getting SECURE Act’s Lifetime Income Provisions Right

Via ThinkAdvisor By Ginger Szala Advice from many experts today is that people should delay claiming their Social Security benefits for as long as possible, or until age 70, when they have to claim them. But what do advisors tell clients who have delayed taking Social Security even after reaching full retirement age (FRA), and when they make the claim, the government offers them a … Continue reading (Mid-America Pension Rights Project): Should Clients Take a Lump-Sum Social Security Payment?

Via ThinkAdvisor By William H. Byrnes and Robert Bloink The Secure Act contains provisions that will impact nearly every client saving for retirement—along with many who have already begun taking withdrawals from qualified plans and IRAs. The Secure Act provisions impacting lifetime income options in defined contribution plans have the potential to be some of the most significant. Although it is expected that most 401(k)s … Continue reading (Mid-America Pension Rights Project): Secure Act’s 401(k) Annuity Options: The Pros and Cons

Via The Motley Fool By Catherine Brock Whether you’re consolidating debt or replacing the transmission in your car, a 401(k) loan can provide the low-cost funds you need, fast. After all, you have access to 50% of your vested balance or up to $50,000, whichever is less. And, you’d be borrowing from yourself, which feels better than borrowing money from the bank. That’s the good … Continue reading 4 Mistakes to Avoid When Borrowing From Your 401(k)

Via Kiplinger By Randy Lupi About 10 years ago I met with a client — she was a teacher and a single mom hoping to put her kids through college. At 56, she was almost past the average retirement age for teachers in her state, yet it was clear she wasn’t going to be retiring anytime soon — not only because of the tuition bills … Continue reading Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans

Via ThinkAdvisor By Gary Anetsberger We all know that saving for retirement is important. As a society, we are living longer than we expected, and this sometimes means that we did not save enough during our working years. Living longer lives is of course a wonderful thing, but it also means that nearly everyone has an opinion on how much to save, through what vehicles, … Continue reading (Mid-America Pension Rights Project): Will the Retirement Crisis Change Our Attitudes Toward Saving?