Many pension plan participants have the option to take their money in a lump sum when they retire. And since 2012, an increasing number of large corporate pensions have been implementing “lump-sum windows” during which vested former employees have a limited amount of time (typically 30 to 90 days) to accept or decline buyout offers.3 (Lump-sum offers to retirees already receiving pension benefits are no longer allowed.)Details
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The articles cover a broad range of topics, and we hope that you will find them useful in helping you to think about getting your fiscal house in order. Economic Empowerment starts at home.
When planning for retirement, an important factor that is often overlooked is the potential for declining cognitive skills associated with aging. Cognitive impairment (CI), often attributable to dementia or Alzheimer’s disease, can have profound implications for your overall health and well-being, particularly during retirement. The cost of care can absorb income and significantly deplete retirement savings. It can also deprive you of the ability to effectively manage your financial affairs.Details
According to the Plan Sponsor Council of America (PSCA), more than half of all 401(k) plans enroll employees automatically. Yet just 19% of plans with fewer than 50 participants have this feature. Might automatic enrollment be right for your organization?Details
If your employer-sponsored retirement savings plan allows pretax, after-tax, and/or Roth contributions, which should you choose?Details
If you’re within 10 years of retirement, you’ve probably spent some time thinking about this major life change. The transition to retirement can seem a bit daunting, even overwhelming. If you find yourself wondering where to begin, the following points may help you focus.Details
Your employer-sponsored retirement savings plan is a convenient way to help you accumulate money for retirement. Using payroll deductions, you invest for the future automatically. … But choosing to participate is just one important step. Another key to making it work for you is managing risk in your portfolio.Details
One of the challenges of planning for retirement is that an unexpected event, like divorce, can dramatically change your retirement income needs. If you were counting on your spouse’s Social Security benefits to provide some of your retirement income, what happens now that you’re divorced? What are the rules?Details