On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61 announcing cost-of-living adjustments affecting dollar limits for pension plans and other retirement-related items for tax year 2022. Many pension plan limits will change next year because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. Other items, however, will … Continued
Trying to figure out Medicare can be one of the most frustrating aspects of retirement. Even the savviest of retirees struggle with figuring out when to enroll and which parts to enroll in – there’s Part A, Part B, Part C, Part D, Medigap plans and so on. And, what in the world is a … Continued
About half of all Americans make New Year’s resolutions. Along with exercising more and eating better, many people aim to get a better handle on their finances. If you’re in that camp, we’re here to help. Here are some surefire steps to create a more financially secure future for you and your loved ones. Create … Continued
Fear of missing out—is more than just a hashtag. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence. But one area where #FOMO really does you a disservice? No one is afraid … Continued
Do I need life insurance once I retire? Just because you’re retired doesn’t necessarily mean you’re financially sound. Think of all the different scenarios that may still be applicable: You may have been required to retire early; you may have had investments that have gone sour and haven’t had time to rebuild your nest egg. … Continued
If you’re one of the millions of Americans who owns a permanent life insurance policy (or are thinking about getting one!) you’ve probably done it primarily to protect your loved ones. But over time, many of your financial obligations may have ended. That’s when your policy can take on a new life—as a powerful tool … Continued
On October 18, 2016, the Social Security Administration (SSA) announced the maximum amount of earnings that are subject to the Social Security payroll tax will increase in 2017 to $127,200. This adjustment is effective as of January 1, 2017 and equates an $8,700 increase from the maximum for years 2015 and 2016, which was $118,500. … Continued
Most employers should be reviewing payroll budgets and job descriptions to ensure that changes to salaries and job classifications are all in order by the December 1 deadline based on the new overtime exempt salary threshold and other final rule changes to the Fair Labor Standards Act (FLSA). Another area that will be impacted by … Continued
Are you ready for Red Ribbon Week® (October 23-31)? The Red Ribbon Campaign® is the oldest and largest drug prevention program in the Nation and a way for people and communities take a visible stand against drugs. This year’s theme, “Respect Yourself. Be Drug Free.™”, created by a middle school student in Ohio, is a … Continued
While a company’s workers may differ in age, gender and in a range of other categories, new research suggests they share at least one common attribute – a lack of confidence about retirement savings.
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