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| Target Date Investing: Going Beyond the Numbers |
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| 2020 Contribution and Benefit Limits Announced |
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The limit on deferrals to 401(k), 403(b) and most 457 plans has been increased by $500.
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| Longevity to Exacerbate the Challenges Retirees Face |
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For those 75 and older, out-of-pocket medical costs amount to 20% of their income.
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| New Mortality Tables Issued for 2020 DB Plan Calculations |
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The IRS has issued Notice 2019-26, which specifies updated mortality improvement rates and static mortality tables, as well as a modified unisex version of the mortality tables, to be used for defined benefit (DB) plans.
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| IRS Issues How-To Guidance for Prorating Short Plan Years |
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Two new IRS publications lay out important rules and clarifications for when and how to prorate compensation and benefit limits for short plan years.
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| Another Bill Proposed as Senate Committee Hearing Brings Calls for Retirement Action |
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Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.
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| IRS Proposes Changes to Tables Used in RMD Calculations |
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The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
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| Market Mirror |
| Yesterday, the Dow lost 183.12 points (0.64%) to finish at 28,462.14, the NASDAQ closed 60.62 points (0.67%) lower at 8,945.99, and the S&P 500 decreased 18.73 points (0.58%) to 3,221.29. The Russell 2000 was down 4.88 points (0.29%) at 1,664.15, and the Wilshire 5000 fell 188.08 points (0.57%) to 32,788.74.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.892%. The price of the 30-year Treasury bond decreased 26/32, bringing its yield up to 2.339%.
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