An analysis shows a new bill introduced in the Senate would result in a significant financial hit to retirement plan investors. Modern Markets Initiative is pushing back on a tax provision in the bill.
The rules set around all the different types of qualified retirement plan distributions are quite complex, but plan sponsors have a lot of places to turn for support when learning about this pressing topic.
According to the Social Security Board of Trustees, the total annual cost of the federal benefits program is projected to exceed total annual income in 2018 for the first time since 1982, and remain higher throughout the 75-year projection period.
Near-retirees broadly worry about future health care costs, the impact of inflation and market downturns—but relatively few are tackling the subject of income taxes in retirement.
A lack of sophisticated advice and support solutions for optimizing Social Security claiming decisions is holding employees back from achieving greater retirement security, warns Bill Meyer of Social Security Solutions, in Leawood, Kansas.