Congress makes changes to making claims for Social Security
Supreme Court ruling on same-sex marriage highlights need for estate planning.
Public employees, such as school teachers, slated to receive a pension may face challenges when planning for retirement, particularly if they hope to include Social Security as well. If a client works in a job that does not withhold Social Security payroll taxes, the receipt of a pension may eliminate or reduce Social Security benefits.
Combining Social Security benefits with 401(k) assets can help long-term savers replace more than 60% of current income in retirement, according to a recent report from the Employee Benefit Research Institute. While many clients are probably planning to include Social Security as a source of retirement income, they may not be aware of certain factors
Despite a report this week pointing to decreasing federal deficits over the next two years, the longer-term outlook for tax rates grew murkier. After four consecutive years of topping $1 trillion, the U.S. federal deficit fell to $680 billion, or 4.1% of GDP, in 2013, according to the Congressional Budget Office (CBO) Budget and Economic
Married couples have multiple options to claim Social Security in retirement, including specific strategies that use the timing of the claim to maximize spousal benefits. In certain cases, these strategies can result in an increase in both lifetime and survivor benefits. Two of the most common strategies are restricted application and file and suspend. Here
Most retirees will rely on Social Security for retirement income, but those who claim the benefit too early may be short-changing themselves. Social Security provides a retirement income stream Social Security plays a critical role in any comprehensive and sustainable retirement income plan. Social Security benefits currently provide more than half of retirement income for