PLANADVISER Weekend Newsdash
Week ending July 24th, 2020

Greetings loyal PLANADVISER readers. The focus of this weekend’s mailing is health care and retirement—a topic that is clearly on many peoples’ minds. Even before the outbreak of the coronavirus pandemic earlier this year, retirement plan advisers were growing increasingly focused on the links between physical wellness and financial wellness. Collected below is a series of articles and reports on just that. We hope you find our reporting useful and consider sharing some of what you read with a client or colleague. Stay well!

Editor's choice
Advisers Giving Back: Brad Arends at intellicents
The plight of rural community health care systems is a personal matter for the community in Albert Lea, Minnesota, and for Brad Arends at intellicents. Read more >
Big Dose of HSA Education Needed
Survey results show nearly a third of consumers surveyed currently have an HSA, and many respondents had one previously, so, in total, almost half of respondents either currently have one or have had one in the past.  Read more >
IRS Publishes 2021 HSA Max Inflation Adjustment
Each year, the Internal Revenue Service adjusts its annual contribution limitations for health savings accounts to account for inflation. Read more >
Planning for Clients’ Health Care Expenses in Event of a Layoff
Mark Waterstraat, president of consumer solutions at Alegeus, offers simple steps to coach clients through managing their health care finances after a layoff. For example, did you know that individuals can use HSA funds to pay COBRA premiums tax-free? Read more >
A Time of Crisis. A Time to Solve Our Big Problems?
With passage of the CARES Act, Congress has demonstrated an ability to speedily enact ambitious bipartisan legislation that addresses the nation’s major challenges head on. Sources wonder whether the feat can be repeated. Read more >
Employers Called on to Retain Older Workers
By one estimate, allowing people to work longer could boost GDP by 19%. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients
Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.
Once They Catch On, PEPs Could Grow Exponentially
The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

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