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Retirement Readiness

Retirement Plan Fees: I’m paying how much to who for what?

In 2007 and 2011, AARP conducted surveys in an effort to understand just how much 401(k) participants knew about the fees associated with their retirement plans. The results were alarming and showed a wide discrepancy between savers’ expectations and the reality of their 401(k) plan costs. Do 401(k) retirement plans charge fees? The first survey found that 71% of participants believed they didn’t pay any 401(k) fees at all.  Another 6% said they didn’t know

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Prepared…To Do Nothing

These last weeks, we’ve had more than our usual share of time to ourselves. There’s a lot happening in the world right now – and not a lot for us to do. This combination of an unsettled world plus leisure time can be a recipe for disaster. The extra thinking time may lead us to come up with new entries to add to our “worry wall.” Perhaps your retirement plan has made that list. With

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The SECURE Act and Your Retirement Savings

Last week, President Trump signed legislation containing sweeping changes to the ways Americans will save and plan for retirement. The SECURE Act (Setting Every Community up for Retirement Enhancement Act) puts several provisions in place to strengthen retirement savings strategies. We expect nearly all of our clients to be impacted by this significant legislation and want to inform you of some of its key components. Key Components that Affect Retirement Savings Required Minimum Distributions (RMDs)

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A Bird’s Eye View of Social Security

Social Security Defined Social Security is a social insurance program administered by the United States federal government to pay benefits to qualified individuals. Social Security retirement benefits are paid monthly, providing income for the life of the retiree. These benefits are calculated based on credits earned per a worker’s wages and can be increased or reduced depending upon the age at which benefits begin. Generally, the longer an individual waits to elect benefits, the greater

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Get This Right! 401(k) Beneficiaries

Once you meet the eligibility requirements for your employer’s retirement plan, you have the opportunity to start contributing toward your financial future. This milestone also ushers in a number of important decisions. There are exciting choices such as how much to contribute, the selection of pretax or Roth deferrals, and how your money should be invested. There are also more sobering choices such as who should be designated as beneficiary when you pass away. Saving

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