With different tax rules and penalties for forgotten distributions, it’s important to review retirement accounts before the end of the year.
Rollovers are a leading driver of IRA assets and the DOL fiduciary rule will introduce new requirements for transactions involving IRAs next year.
Multiple recommendations have been made to fix Social Security and some strategies may be more costly for investors.
While major legislation is unlikely to be passed during an election year, some smaller-scale bills to help savers could be advanced.
Some plan participants may use non-hardship 401(k) withdrawals to invest in individual retirement accounts.
Congress eliminated two Social Security claiming strategies last year, but one can still be used by married couples before it expires.
Aware of rising health-care costs, investors may be looking for strategies to limit the impact of health expenses on retirement savings.