Retirement

LABOR DEPARTMENT DELAYS FIDUCIARY RULE CHANGE

The Internal Revenue Service has increased the maximum pre-tax contribution limit for 401(k) and 403(b) retirement plans, most 457 plans, and the federal government’s Thrift Savings Plan by $500, from $16,500 to $17,000, as a result of cost-of-living adjustments.

This week is National Save for Retirement Week, and a variety of financial planning groups are promoting that fact to attract clients.

In order to help financial advisors face the challenges of serving the growing elder market, the Insured Retirement Institute released the report “Retirement Planning and the Elder Market: Advisor Strategies to Understand and Work with Senior Clients.”

A majority of married couples in their 60s lack the knowledge about how to maximize their Social Security benefits and whether or not to expect Social Security advice from a financial planner.

FAMILIES CHANGE HOW THEY PAY FOR COLLEGE

IMGCAP(1)]In the current business and economic climate, the value of being a pro-active tax and financial advisor for your business owner clients cannot be understated.

While half of all individuals with at least $500,000 in investable assets are women, just 34 percent expressed confidence they would have enough money to live comfortably in retirement, while fully half feel they need assistance in managing their finances.

A majority of Americans believe that retirement planning is easier for unmarried people, according to a new survey, but those perceptions are probably wrong.

The Labor Department has decided to delay and reconsider a proposal to expand its definition of the term “fiduciary.”

The Texas Society of CPAs has issued some tips for self-employed business owners for funding their retirements.

A new study from Fidelity Investments found that 401(k) investors who pulled out of the equities market during the 2008-2009 economic downturn experienced only 2 percent growth, while those who maintained their investment strategy eventually saw growth of 50 percent by the second quarter of this year.

Reinsel Kuntz Lesher LLP has added a Senior Living Services Consulting Group, brought over from ParenteBeard, to its services.

Small businesses may now face a new challenge with holding onto their employees as employee loyalty shows signs of eroding, according to a new survey.

The Financial Accounting Standards Board has beefed up its standards for multiple-employer pension plans, requiring employers to provide more information about their pension plan obligations, particularly for unionized employees.

The Governmental Accounting Standards Board is proposing some far-reaching changes in the field of pension accounting that should affect public employees and state and local governments across the country.

The Governmental Accounting Standards Board has issued two exposure drafts proposing improvements to financial reporting of pensions by state and local governments.

Husbands and wives need to talk more about retirement planning and how to achieve their retirement goals, according to a new study.

MORE DELAY RETIREMENT

IMGCAP(1)]Accountants, insurance professionals and others need to be careful that they don’t become what the IRS calls material advisors.