Servicing Strategies
Never Too Late
Strategies to help clients who are behind on saving ‘retrieve’ lost time.
Tag: Social Security
Social Security Benefits, Taxable Wages Will Increase in 2021
Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.
Workers Need Help on Retirement Income
They expect 44% of their retirement income will come from their 401(k), according to Charles Schwab, and half said they would benefit from financial advice.
Guidance on Payroll Tax Deferral Tells When It Must Be Repaid
Notice 2020-65 from the IRS also defines the ‘applicable wages’ per pay period that qualify for the deferral.
Trump’s Payroll Tax Deferral Raises Concerns on Social Security
The Treasury Department has yet to deliver formal guidance on the deferment.
Unemployed Older Workers at Risk of Involuntary Retirement
Retirement Equity Lab says if these exits continue, they will increase old-age poverty and worsen the recession.
Working Generations Are Uncertain about Social Security
However, Millennials and Gen Xers are open to working with financial advisers to learn more and maximize benefits.
Biden’s Plan to Shore Up Americans’ Retirement Builds on Status Quo
It proposes reinforcing Social Security and Medicare as key steps to providing greater retirement security to older Americans.
Some Older Workers Feel Inclined to Take Early Social Security
Since this resource is viewed as a lifetime guaranteed income source, some older workers scrambling for relief are considering it their only solution.
Social Security Reports Comparable Projections from 2019
However, the estimates do not reflect the potential outcomes due to the COVID-19 pandemic, says the Social Security Board of Trustees.
The Obligation to Save Social Security
With the recent passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, advisers and other retirement plan...
The Positive Impact of Claiming Social Security Later
The Center for Retirement Research says the reduction for claiming early is currently too large while the increase for claiming late is about right.
Social Security Benefits to Rise 1.6% in 2020
Social Security is a big part of retirement income planning for employees.
Illustrative Stories Can Help With Understanding Retirement Income Choices
Whether by video or written text, researchers found a short story significantly improved test scores about annuities and Social Security claiming.
LifeYield Offers Social Security Advantage through Allianz
Financial professionals who do business with Allianz can soon provide information surrounding what may be optimal timing to take Social Security benefits, as well as how to file...
Health Care Will Cost a 65-Year-Old-Couple $396K Over Their Lifetimes
This is assuming their health is average, according to Milliman.
A Crash Course in Social Security Maximization
Cost of living increases, claiming age, marital status and work history all complicate Social Security claiming strategies.
Bill Reintroduced to Create Federal Retirement Commission
The Federal Retirement Commission would conduct a comprehensive review of private benefit programs in the U.S., with an eye toward strengthening them.