Senator Rubio’s surprisingly bipartisan retirement saving idea

Senator Marco Rubio (R-Florida)

When Republican politicians talk about how important Social Security and Medicare have been for their parents, it’s time to grab your wallet. These stories usually precede a proposal to cut benefits under the guise of “saving” the programs – and Senator Marco Rubio of Florida tore a page from that playbook this week. Rubio, a […]

Cruise control can drive your 401(k) – just don’t hit the gas

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401(k) plans are all about automation these days, especially target date funds, which keep workers’ accounts in balance for an age-appropriate level of risk. It’s the investing world’s version of cruise control, but a study released today finds that many investors are turning on cruise control while putting their feet on the gas pedal – […]

Why moms – and all women – need a solid retirement plan

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On the hunt for a Mother’s Day gift this weekend? Here’s one that won’t cost a dime but could provide a big boost to Mom’s pocketbook down the road: Sit down and have a talk about retirement planning. Women who aren’t mothers need to have the talk, too. That’s because women face a much tougher […]

The vanishing pension and its discontents

Dallas Salisbury, Employee Benefit Research Institute

If only we could revive the good old pension. You retire after 30 or 40 years at a company, get the gold watch, and the monthly checks start flowing. Many Americans still get those checks, but Corporate America has been running away from defined-benefit (DB) pensions for decades, and many experts see that as a […]

Why the IRS wants you to be careful with those IRA rollovers

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Memo from the Internal Revenue Service to retirement investors: Be careful with those individual retirement account rollovers. That’s the gist of a recent IRS ruling that puts new restrictions on the number of “indirect rollovers” from one IRA to another you can do annually. The ruling comes on the heels of a federal court decision […]

Social Security will resume mailing paper statements for some workers

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Paper Social Security benefits statements, which used to be mailed out every year and then fell victim to budget cuts, are going to make a partial comeback. Starting this September, the Social Security Administration (SSA) will resume mailings at five-year intervals to workers who have not signed up to view their statements online, an agency […]

Time to raise – or scrap – the Social Security payroll tax cap

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It’s Tax Day, and a small number of wealthy Americans will have something to celebrate: They’ll be done paying Social Security taxes for the year. The payroll tax that funds Social Security is levied only on a certain amount of income. This year it’s capped at $117,000. That means most wage earners will pay 6.2 […]

Considering retirement abroad? What you need to know

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Are you thinking of retiring abroad? It’s a growing trend: the number of retirees, spouses and widows receiving Social Security benefit payments outside the U.S. rose 26 percent to 542,451 between 2006 and 2012, according to the Social Security Administration. And that figure likely understates substantially the number of retirees living abroad, since many retirees […]

Out of work and under 65? Here’s how to retool your retirement plan

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We reached a milestone last week when the government reported that the U.S. economy has regained all the jobs lost during the Great Recession. Yet for many older workers the recession never ended; long-term joblessness has morphed into de facto premature retirement. Now, millions are performing financial triage on retirement plans that had been based […]

Corporate pension plans are healthier, but they’re still dying

Josh Gobtaum, director, Pension Benefit Guarantee Corp.

This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them. The funding deficit of […]