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What is the retirement earnings test threshold for 2021
What is the retirement earnings test? When you claim Social Security benefits before reaching full retirement age (FRA) and continue working and earning above a certain threshold, you are subject to the retirement earnings test (RET). So what is the…
Retirement benefits satisfaction during COVID-19
The recent study conducted by Greenwald Research and Employee Benefit Research Institute (EBRI) on retirement benefits satisfaction during COVID-19 found while satisfied and knowledgeable about their retirement benefits, workers are interested in more education. About one-third want education and advice…
Picture the life you want in retirement
You’ve retired, so now what? According to the Mayo Clinic, the shifting of priorities and how you spend your newfound free time can make a big difference in your health and quality of life. In Nancy Clanton’s article for the…
Paying off your credit cards in retirement
Americans between the ages of 50 and 70 account for $376 billion in credit card debt according to data from the New York Federal Reserve. The total household debt for U.S. seniors has risen by 543 percent over the past…
Taking these steps can help boost to your retirement savings
According to a report from the Employee Benefit Research Institute, it found nearly half of workers have less than $25,000 saved for retirement and of those workers, more than one-quarter have less than $1,000 stashed away. No matter if you’re…
Don’t claim your Social Security until you’re taken certain these actions
The decision of when to retire and start your Social Security benefit is a very import one, so you should approach it thoughtfully and carefully. There are five signs that can help you in your decision when to retire and…
The pandemic has prompted few workers to dip into their retirement accounts early
According to a survey by Edelman Financial Engines, the COVID-19 pandemic has prompted a few workers to dipinto their retirement accounts early, but more are now considering it. The survey found roughly a third of the people said they have…
Before you sign up for one of these expanded plans, be sure you know the limits involved
Since 2019, government rules have allowed Medicare Advantage plans to expand benefits which is commonly referred to as Special Supplemental Benefits for the Chronically Ill, or SSBCI. These new benefits can go beyond medical care and provide support that can…
The 10-year rule is now law for non-spouse beneficiaries
There is some good news and not so good news for non-spouse beneficiaries of tax-deferred retirement accounts. First, the good news, thanks to the 10 year rule in the Secure Act passed last year, most will avoid annual required minimum…
Is the “State” option going to replace other retirement programs
According to Georgetown’s Center for Retirement Initiates, which tracks state retirement programs, since the beginning of the year, at least 20 states and cities have introduced legislation to establish some form of publicly facilitated retirement plan. The officials behind these…