The pandemic is taking a broad economic toll causing many workers to earn less which could reduce Social Security benefits in the future.
The SECURE Act introduced an anti-abuse rule to prevent benefiting twice from taking IRA distributions and QCDs.
The passage of this landmark legislation represents the most significant changes to the retirement industry since the Pension Protection Act (PPA) of 2006.
Many small business owners may not realize that Internal Revenue Service offers a tax credit for the costs of establishing workplace retirement plans.
The Senate is considering a bill that represents the most comprehensive changes to retirement savings since the Pension Protection Act of 2006.
A new report found that the cost of Social Security is projected to exceed its income in 2020 and the trust funds are projected to be depleted in 2035.
Changes to retirement accounts could be on the horizon as Congress considers legislation to enhance 401(k) plans and other retirement accounts.
For investors preparing for retirement, it may be more difficult to distribute retirement income than to accumulate.