1 2015 Field Guide to Estate Planning, Business Planning & Employee Benefits The federal estate tax has been enacted or repealed a number of times over the years while undergoing many changes. Tax reform, including possible repeal of the estate tax, is back in the spotlight once again. While no one can predict the future, […]
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Don’t Let Rising Interest Rates Catch You by Surprise
You’ve probably heard the news that the Federal Reserve has been raising its benchmark federal funds rate. The Fed doesn’t directly control consumer interest rates, but changes to the federal funds rate (which is the rate banks use to lend funds to each other overnight within the Federal Reserve system) often affect consumer borrowing costs. […]
I’m thinking about buying a new home. Should I consider the risk of climate changes?
If you’re thinking about buying a home, you probably have a checklist of qualities you’re looking for as you shop around. But have you considered how environmental factors could affect your choice? In the event your dream home is in an area that could be affected by flooding or a storm surge, you’ll have some […]
Should I purchase towing and rental reimbursement coverage for my car?
For many individuals, driving a car is a necessity. Whether you’re driving to work or running errands on the weekend, not having your main source of transportation for even just a week or two can have a major impact on your daily routine. As a result, you’ll want to make sure your transportation needs are […]
Setting Up a SIMPLE IRA Plan: It’s Simple!
You can also set up a 401(k) plan as a SIMPLE plan. However, there’s little advantage in doing so, because you’ll have the same lower contribution limits as a SIMPLE IRA plan while giving up the ease of administration that makes SIMPLE plans attractive in the first place. *The 3% of pay match may be […]
Withdrawal Options for Your Thrift Savings Plan (TSP)
*You should consider carefully the consequences of an in-service distribution. Distributions from your pre-tax TSP account are subject to federal income tax, and an additional 10% penalty tax will generally apply to distributions made prior to age 59½. The taxation of in-service withdrawals from a Roth TSP account depends on whether the distribution is a […]
Four Numbers You Need to Know
When it comes to your finances, you might easily overlook some of the numbers that really count. Here are four to pay attention to now that might really matter in the future. 1. Retirement plan contribution rate What percentage of your salary are you contributing to a retirement plan? Making automatic contributions through an employer-sponsored […]
What is an ERISA fiduciary?
The Employee Retirement Income Security Act (ERISA) was enacted in 1974 to protect employees who participate in retirement plans and certain other employee benefit plans. At the time, there were concerns that pension plan funds were being mismanaged, causing participants to lose benefits they had worked so hard to earn. ERISA protects the interests of […]
Are You Ready to Retire?
Here are some questions to ask yourself when deciding whether or not you are ready to retire. Is your nest egg adequate? It may be obvious, but the earlier you retire, the less time you’ll have to save, and the more years you’ll be living off your retirement savings. The average American can expect to […]
Is It Wise to Trade Your Pension for a Lump Sum?
Most private employers have already replaced traditional pensions, which promise lifetime income payments in retirement, with defined contribution plans such as 401(k)s. But 15% of private-sector workers and 75% of state and local government workers still participate in traditional pensions.1 Altogether, 35% of workers say they (and/or their spouse) have pension benefits with a current […]
