Increasing private-sector retirement plan coverage in a shifting retirement landscape is a major factor behind legislation that would establish Rhode Island Secure Choice, says Rhode Island General Treasurer James Diossa. The measure would provide retirement plan coverage for private-sector employees in the Ocean State whose employers do not. https://lnkd.in/ehwN7vCD #RetirementPlanning #EmployeeBenefits #WealthManagement
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Increasing private-sector retirement plan coverage in a shifting retirement landscape is a major factor behind legislation that would establish Rhode Island Secure Choice, says Rhode Island General Treasurer James Diossa. The measure would provide retirement plan coverage for private-sector employees in the Ocean State whose employers do not. https://lnkd.in/ehwN7vCD #RetirementPlanning #EmployeeBenefits #WealthManagement
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In our March 2024 issue of The Retirement Times, we spotlight a game-changing legislative proposal: The Helping Young Americans Save for Retirement Act. Spearheaded by Senators Cassidy and Kaine, this bipartisan effort aims to lower the 401(k) contribution age to 18, opening doors for the youth to kickstart their retirement savings earlier. Explore the potential impacts of this pioneering move and how it fits into broader retirement policy reforms on the horizon. #YouthSavings #RetirementReform #FinancialFuture
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The recent discussion between Nicola Willis and Barbara Edmonds gave hope of an accord between parties. In 1993, the right wanted NZS to be a welfare benefit, the left wanted it to be forever universal. The accord was held together by the agreement around the surcharge. Today, we can simplify the surcharge clawback idea by paying NZS as a basic untaxed grant and put all other income on a separate tax schedule. NZS is still a universal payment but the top end pay it back in extra tax. see New Zealand Superannuation as a basic income PensionBriefing 2021-2, Retirement Policy and Research Centre- to be updated
Important article from the Retirement Commissioner Jane Wrightson here: https://lnkd.in/gHg_9_5B. It is good to hear calls for more collaboration on retirement income policy issues given how high the stakes are. We know that as a country change is coming – so let’s have a discussion on what tomorrow’s retirement income system should look like …
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What kind of Retirement Plan should you offer your employees? Options can be confusing. We can help you sort it out. We have been a trusted provider of retirement plans to Catholic entitites across the U.S. for nearly 70 years. We understand the unique needs of Catholic employers and their employees. Learn more about our plans: https://lnkd.in/gKWQtsJd
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Retirement planning is crucial as Social Security benefits alone are likely insufficient for a comfortable retirement. 🫣 Many Americans have minimal retirement savings, and Medicare won't cover assisted living or nursing home costs. To address gaps in your retirement plan, consider maximizing annual contributions to employer-sponsored plans and IRAs. With life expectancies increasing due to better healthcare, ensuring adequate savings for a post-career phase that could last 25 years or more is essential. The average monthly Social Security benefit in 2024 is estimated at $1,907, and the days of employer-paid pensions are over. 💰 Comment your thoughts... 💭 #RetirementPlanning #RetirementSavings #LifeExpectancy
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3 Common Ways Retirees Mismanage Their Retirement Income Over 60% of respondents to a 2023 study said they’re more afraid of running out of money in retirement than they are of death. Learn more: https://lnkd.in/eTAUX7rC #DailyFed #RetirementPlanning #RetirementTips
3 Common Ways Retirees Mismanage Their Retirement Income
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A recent trend is the increasing number of states and localities requiring employers to provide retirement savings plans. While federal laws like ERISA don’t mandate retirement benefits, recent legislation at both state and federal levels aims to boost retirement savings for low to moderate-income workers. Some states now require employers to automatically enroll employees in retirement plans or state-sponsored plans if no such plan is offered by the employer. Learn more in our tip of the week- https://zurl.co/14Td
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📢 Did you know that widows' benefits can have a significant impact on your retirement benefits? 🌟 Maximize your benefits without waiting until age 70! 💰 If you are eligible for widows' benefits, you have options. An individual can start collecting widows' benefits at any age after 60, or between 50-60 if disabled. Later, you can switch over to your own benefits, which are likely to be much higher. 💪 Take advantage of this opportunity to secure a brighter financial future for yourself! 💼💸 Remember, knowledge is power when it comes to retirement planning. Stay informed and make the most out of your benefits! Visit https://bit.ly/3GohAbw to learn more. #RetirementBenefits #WidowsBenefits #MaximizeYourBenefits #FinancialPlanning #SecureYourFuturn
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The decision about when to claim Social Security retirement benefits is a topic that is well covered in the financial press since most American retirees either are currently receiving retirement benefits or can expect to do so. Read More: https://ow.ly/EcmN50QQgxN #SocialSecurity #RetirementBenefits #RetirementPlanning #RetirementIncome
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Improving workers' retirement security is a top priority for the US Department of Labor--so what is required of fiduciaries under the Employee Retirement Income Security Act of 1974? Read our guide for retirement plan sponsors: https://lnkd.in/e5AM6xbm
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