Retirement

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Planners offer pro bono services amid market crash, COVID-19
RETIREMENT PLANNING MAR 20, 2020
Planners offer pro bono services amid market crash, COVID-19

The Financial Planning Association has launched a directory of CFPs who are volunteering their services

Senate coronavirus package would allow hardship early access to retirement accounts
RETIREMENT PLANNING MAR 20, 2020
Senate coronavirus package would allow hardship early access to retirement accounts

Financial industry also pushes for temporary waiver on required minimum distributions

Delay in 2019 tax filing date means deadline for 2019 IRA contributions also extended
RETIREMENT PLANNING MAR 20, 2020
Delay in 2019 tax filing date means deadline for 2019 IRA contributions also extended

Advisers need to watch for administrative errors on the part of financial institutions, though

IRS delays tax-filing date to July 15
REGULATION AND LEGISLATION MAR 20, 2020
IRS delays tax-filing date to July 15

After the extension, the deadline for filing now matches the deadline for tax payments announced previously

401(k) lawsuits keep coming, despite COVID-19
RETIREMENT PLANNING MAR 19, 2020
401(k) lawsuits keep coming, despite COVID-19

Two lawsuits over plans’ target-date investments were filed in the past week, and there was a major development in another case

Voya adds student-loan service for 401(k)s
RETIREMENT PLANNING MAR 19, 2020
Voya adds student-loan service for 401(k)s

The plan record keeper added a service allowing employers to make loan payments or plan contributions for workers

Investor advocate says variable annuity summary prospectus lacked sufficient testing
LIFE INSURANCE AND ANNUITIES MAR 18, 2020
Investor advocate says variable annuity summary prospectus lacked sufficient testing

The SEC says in the final rule that it solicited feedback on hypothetical forms

Annuities, hard hit by COVID-19, give retirees one less option
RETIREMENT PLANNING MAR 18, 2020
Annuities, hard hit by COVID-19, give retirees one less option

Insurers have started pulling some products amid volatility and low interest rates

A crisis is a terrible thing to waste
OPINION MAR 18, 2020
A crisis is a terrible thing to waste

How the COVID-19 pandemic could change the 401(k) market

Roth conversions 'on sale' and other retirement advice amid the market crash
RETIREMENT PLANNING MAR 18, 2020
Roth conversions 'on sale' and other retirement advice amid the market crash

People near retirement are the most at risk from the sell-off, and advisers have several recommendations for them

Wells Fargo named in new 401(k) lawsuit
RETIREMENT PLANNING MAR 17, 2020
Wells Fargo named in new 401(k) lawsuit

The company has been sued again over its use of its own products in its retirement plan

Treasury delays April 15 tax deadline for millions
REGULATION AND LEGISLATION MAR 17, 2020
Treasury delays April 15 tax deadline for millions

The extension gives individuals and many businesses 90 extra days to send checks to the government

Social Security closes local offices nationwide
RETIREMENT PLANNING MAR 17, 2020
Social Security closes local offices nationwide

Critical services still available over the phone and online

One TDF series outperforms others in market plunge
RETIREMENT PLANNING MAR 16, 2020
One TDF series outperforms others in market plunge

The newer product line has a different approach to asset allocation than most other target-date funds

Singles, survivors most affected by Medicare surcharges
RETIREMENT PLANNING MAR 13, 2020
Singles, survivors most affected by Medicare surcharges

Roth conversions can help reduce clients' health care costs and taxes, given the impact that required minimum distributions can have on Medicare premiums

Captrust stays hungry with purchase of $5.5 billion advisory firm
RIAS MAR 12, 2020
Captrust stays hungry with purchase of $5.5 billion advisory firm

The deal closed just ahead of the market downturn

Trump's proposed payroll tax holiday could hurt the economy more than it helps
RETIREMENT PLANNING MAR 12, 2020
Trump's proposed payroll tax holiday could hurt the economy more than it helps

In a speech Wednesday, the president said he would pressure Congress to suspend Social Security and Medicare taxes for the rest of the year

Trump’s payroll tax cut gets lukewarm reception on Capitol Hill
REGULATION AND LEGISLATION MAR 12, 2020
Trump’s payroll tax cut gets lukewarm reception on Capitol Hill

Democrats focus on paid sick leave; experts say fluid situation may change

SEC adopts rule to streamline variable annuity, variable life prospectuses
LIFE INSURANCE AND ANNUITIES MAR 11, 2020
SEC adopts rule to streamline variable annuity, variable life prospectuses

Summary prospectuses will be considerably shorter than the documents customers currently receive

Auto-IRA floated in Colorado
RETIREMENT PLANNING MAR 11, 2020
Auto-IRA floated in Colorado

The state is one of a number that have considered or adopted a public savings system for private-sector workers who don't have access to employer-sponsored retirement plans