Beginning in July, advisors and firms must follow new rollover rules issued by the Department of Labor.
Challenges can emerge for investors who have not planned for the impact of taxes on retirement income.
Individuals who withdrew retirement funds under the CARES Act have options for filing and paying taxes.
Some tax proposals introduced by the Democratic presidential campaign may cause changes to retirement savings accounts.
Changes to retirement savings plans are expected in White House budget proposal.
“To see what is in front of one’s nose needs a constant struggle.” – George Orwell The Putnam Investments 2014 Lifetime Income Study, done in collaboration with Brightwork Partners, drew on data from over 4,100 working age adults (18 to 65 years of age) to comprehensively assess their potential to replace pre-retirement incomes. The survey
Some 401(k) plans allow participants to transfer money while they are still working. If your plan provides for in-service withdrawals, funds may be transferred to an individual retirement account, which could provide access to more investment options and the ability to consolidate accounts. Transferring funds out of a 401(k) could have some disadvantages, however, such