Category: Retirement Planning

Question: Our organization sponsors both health and retirement plans that must comply with the Employee Retirement Income Security Act (ERISA). We recently received a request from the U.S. Department of Labor (DOL) for plan-related documents. Is this an audit? And if so, what should we expect? Answer: A request for plan documents usually signals the beginning of […]

Have you given any thought to your retirement? Even if you don’t expect to retire anytime soon, the earlier you start planning how you’ll transition from work to retirement, the more likely you’ll be to meet your personal and financial goals. Here are several questions to answer before you call it quits. What Do You […]

When people are young, saving for retirement is often the last thing on their minds. But starting early and saving every month can translate into a huge difference in your net worth at retirement — all through the power of compounding. It’s a simple concept: Compounding allows you to earn profit on your profit, or […]

If you want a retirement plan for your small company or self-employed business — but you don’t want to be buried in paperwork — consider a simplified employee pension plan or SEP. Among the appealing advantages: 1. SEPs are set up by simply filling out a brief form. 2. Form 5500’s aren’t required to be […]

When your company sponsors a qualified retirement plan, you must comply with complex rules established by the IRS and the Department of Labor. Ignore the rules and your firm could face costly penalties from federal regulators — and plan participants might sue you for mishandling trust assets. This is no time to be a do-it-yourselfer. […]

Since the turbulent days of the Great Financial Crisis, the US banking sector has been relatively stable. Rock-bottom borrowing costs and a COVID-19 powered demand for digital services had kept inflows surging. But cracks began to appear, as rising interest rates took a toll, and customers pulled out deposits in classic bank runs from two […]

When you write a will, one of your most important decisions will be whom to appoint as the executor, responsible for carrying out the terms of the document. It is not a casual choice. Executors play a crucial role in ensuring your wishes are implemented faithfully and efficiently. The ideal candidate would bring a combination […]

Mutual funds have been one of the most popular ways to invest in the stock and bond markets, especially as part of employer-sponsored 401(k) plans and self-directed individual retirement accounts. Mutual funds allow you to buy a diversified collection of assets in just one fund, often at a low cost, without the difficulties of purchasing […]

The first tip is to always question where you are planning to get your advice from when it comes to tax and finance tips for seniors. There are a lot of scams out there — from incompetent and so-called experts to downright crooked “professionals.” So says Julian Block, an attorney and former IRS special agent.  Be especially suspicious […]

There’s been buzz about new retirement plan provisions for weeks, and now they’re final, bringing about changes to various federal rules and adding flexibility for current and future retirees. The Secure 2.0 Act of 2022, part of the Consolidated Appropriations Act of 2023, includes the following modifications, some of which are immediate, and others that […]