How to navigate benefits if you’re working past age 65


It’s no secret that Americans are working longer. But some are working well past traditional retirement age: the fastest-growing segment of the labor force is workers over age 65, according to the U.S. Bureau of Labor Statistics – and the growth is especially pronounced among workers over age 70. Working longer certainly can boost the […]

Three income tax reforms that would give retirees a needed break


Congress probably won’t produce a broad overhaul of the U.S. tax code anytime soon. But if and when it does, lawmakers shouldn’t overlook some of the oddities of the way we tax retirement income. Many Americans are stressed out about their economic security in old age, and tax code writers could ease their pain. My […]

Retirees get a slim COLA boost next year


Seniors and retirement savers finally got the word last week on three critical inflation adjustments for next year – and the word was — not bad. The burst of fall cost-of-living adjustment (COLA) announcements was delayed by the recent government shutdown. Now the COLA figures for Social Security, Medicare and limits on contributions to retirement […]

It’s Save for Retirement Week – but it could be so much more


Bet you didn’t know this is National Save for Retirement Week. Unless your boss is marking the occasion by herding the staff into retirement education seminars, it’s just another one of those manufactured calendar events that tend to fly right by us. There are other national awareness weeks in October – for fire prevention, school […]

How to cope with Required Minimum Distributions


The “deferred” part of tax-deferred retirement accounts doesn’t last forever. Distributions must be taken from Individual Retirement Accounts (IRAs) starting in the year you turn 70.5 – and from 401(k)s at the same age, unless you’re still working for the employer that sponsors the plan. Congress set it up this way because the tax breaks […]

Getting small business employees to save more for retirement


The U.S. Chamber of Commerce and AARP usually can be found on opposite ends of the ideological spectrum when it comes to retirement policy. The two Washington advocacy powerhouses have often been at loggerheads on key policy fights, such as Social Security and Medicare reform. But these strange bedfellows teamed up last week to sponsor […]

Employee stock purchase plans see uptick in post-Enron era

Invesco is a big believer in employee ownership. But in 2005, the investment management giant dropped a feature in its 401(k) plan that allowed employees to accumulate its shares in their retirement accounts. The decision stemmed from worries about the risks of company stock in a retirement plan, where plan sponsors have a fiduciary responsibility […]

How to cope with an unplanned early retirement


Just under half of all workers retire earlier than they expected – and not by choice – according to research by LIMRA, the insurance industry research firm. The most commonly cited reasons included health problems, job loss or burnout and negative work conditions. The LIMRA numbers confirm annual surveys by the Employee Benefit Research Institute, which […]

Is $1 million enough to retire?

The New York Times carried a story earlier this month with the provocative headline For Retirees, a Million-Dollar Illusion. The story points out the difficult math facing retirees due to ultra-low interest rates, which make it tough to keep up with inflation with fixed-income investments. But the story leads us to an unfortunate — I […]

Employer worry about worker retirement readiness is growing

The market crash of 2008 was a wake-up call for many 401(k) account-holders. At Aetna Inc., it raised awareness that some of its own employees might lack the financial preparation necessary for retirement. “The crash put a magnifying glass on 401(k)s and account balances,” says Carol Klusek, head of retirement and financial benefits at the […]