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| ‘Stretch IRAs,’ Multigenerational Inheritance and the SECURE Act |
| Low and middle-income Americans struggling to save for retirement are depending on the U.S. Senate to pass the SECURE Act, advocates say. At present, one roadblock seems to the law’s treatment of “stretch IRAs.”
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| Americans Have Set Own Savings Thresholds for Retirement Preparedness |
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Adults ages 45 to 59 who say their retirement savings are on track typically have at least $250,000 saved, according to the sixth annual Survey of Household Economics and Decisionmaking (SHED).
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| John Hancock Waives COVID-19-Related Retirement Plan Fees |
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In addition to waiving fees related to participant hardship withdrawals, the firm is suspending fees for plan amendments made in response to the pandemic.
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| New Life Expectancy Tables Will Decrease RMDs |
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The IRS has issued final regulations on mortality tables to be used for calculating required minimum distributions, which reflect longer life expectancies.
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| Stimulus Package Allows Early Withdrawals, Deferred RMDs and More |
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The retirement plan-focused provisions passed by the Senate last night are among many meant to ease the financial pressures posed by the coronavirus pandemic.
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| CARES Act Update: A Few Important Points About Required Minimum Distributions |
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First the SECURE Act and now the CARES Act have made important changes to the rules for required minimum distributions from individual retirement accounts and 401(k)s.
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| Market Mirror |
| Tuesday, the Dow decreased 68.30 points (0.22%) to 30,355.67, the NASDAQ closed 49.20 points (0.38%) lower at 12,850.22, and the S&P 500 was down 8.32 points (0.22%) at 3,727.04. The Russell 2000 fell 44.59 points (2.22%) to 1,959.36, and the Wilshire 5000 lost 157.47 points (0.40%) to finish at 39,200.60.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.936%. The price of the 30-year Treasury bond decreased 24/32, bringing its yield up to 1.675%.
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