Money Talk

MAY 4, 2023

This means that more young adults will enter college, careers, or the military with personal finance knowledge. More Attention to Asset Decumulation - Baby boomers were “guinea pigs” for voluntary self-directed retirement savings accounts and the decline of pensions.

Education 246

Education Finance Pension Taxes 246

Money Talk

APRIL 20, 2023

Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., Simplified Employee Pension (SEP)- This is a retirement savings plan for self-employed workers and small business owners. 401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g.,

401(k) 246

401(k) Pension Retirement Plan Taxes 246

Employee Benefits

OCTOBER 23, 2023

lost pension pots in the UK, worth around £26.6 billion WEALTH at work explains how employees can track down lost pensions and provides guidance on whether to consolidate The total value of lost pension pots has grown from £19.4 million lost pension pots sitting unclaimed because they’ve been simply lost or forgotten about.

Pension 105

Pension Electronics Finance Government 105

Money Talk

DECEMBER 22, 2021

Pension COLAs - Pension benefits for some retirees are also indexed for inflation. An example is pensions for federal government workers and military retirees and disabled veterans. Other pensions have frozen or suspended COLAs for their retirees (e.g., the New Jersey state pension plan).

401(k) 233

401(k) Pension Taxes Deductible 233

Employee Benefits

JANUARY 17, 2023

With increasing costs continually putting pressure on household finances, 2023 is set to be a financially challenging year for many. It’s therefore now more important than ever to support employees to take control of their finances to successfully navigate the cost-of-living crisis. Track your finances. Create a budget.

Finance 98

Finance Pension Banking Retail 98

Employee Benefits

DECEMBER 1, 2023

Two-thirds (66%) of full-time UK employees regard contributory pensions and savings as important, according to research by Employee Benefits Isle of Man. Michael Crowe, chief executive at Finance Isle of Man, said: “What stands out clearly is that a one size-fits-all approach is increasingly obsolete in today’s diverse global workforce.

Pension 113

Pension Salary Finance Medical 113

cipHR

JANUARY 11, 2022

The new year brings a new start for people’s finances, giving you the chance to re-evaluate your situation and make changes based on your priorities. This could begin with making a plan to pay off any outstanding debts that have been causing stress, or just being aware of changes that may impact your finances.

Finance 98

Finance Pension Take Home Pay Work From Home 98

Money Talk

JUNE 8, 2022

Many older adults also have multiple income sources including Social Security, a pension, full-or part-time work or self-employment, withdrawals from retirement savings (including taxable required minimum distributions or RMDs), and interest, dividends, and capital gains on investments. In other instances (e.g.,

Taxes 278

Taxes Pension Deductible Deductions 278

Employee Benefits

MARCH 6, 2024

WEALTH at work, a leading financial wellbeing and retirement specialist has run financial education workshops for staff in hundreds of organisations and is encouraging people to consider using this saving in National Insurance if they can, to increase their monthly pension contributions. When made into a pension contribution it is worth £206.39

Pension 98

Pension Insurance Salary Taxes 98

Money Talk

SEPTEMBER 30, 2022

Many events can affect IRMA including marriage, divorce, death of a spouse, taxable pensions, leaving the workforce, capital gains on the sale of assets, and the start of RMDs. A letter from the Social Security Administration (SSA) notifies beneficiaries of their expected benefit, including IRMAA deductions, if any. On the contrary.

401(k) 245

401(k) Taxes Pension Deductible 245

Employee Benefits

SEPTEMBER 2, 2024

Choosing a pension provider that offers easily accessible and age appropriate investment education can increase employees’ confidence on the topic. In its March 2024 report, the Pensions and Lifetime Savings Association (PSLA) revealed that while 82% of savers understand their pension is invested, only 26% know what it is invested in.

Pension 97

Pension Education Finance Government 97

Money Talk

SEPTEMBER 12, 2024

A married couple has four monthly income streams: $2,500- husband’s pension, $2,000- husband’s Social Security, $800- wife’s pension, and $1,500- wife’s Social Security for a total of $6,800 ($81,600 annually). The wife’s pension and Social Security would go away, however, which could still result in a decrease in household income.

Pension 163

Pension Pension Benefit Taxes Entertainment 163

Money Talk

JUNE 16, 2022

If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. Through Retirement” Planning ¨ Taxable Income Sources- Common types of taxable income in later life include pensions, distributions from workplace retirement accounts, and Social Security.

Taxes 189

Taxes 401(k) Retirement Plan Pension 189

Employee Benefits

DECEMBER 19, 2023

It’s now more important than ever to support employees to take control of their finances. Create a budget – The first step to taking control of your finances is to create a budget. Start saving early – Starting to save when you are younger into ISAs and a pension means that the money has lots of time to grow.

Finance 104

Finance Banking Pension Insurance 104

Money Talk

MARCH 15, 2023

They are often bought with money from settlements, investment accounts, and pension plan lump sum distributions. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. Generally, variable annuities have the highest fees.

401(k) 245

401(k) Life Insurance Taxes Insurance 245

Money Talk

NOVEMBER 9, 2023

Pension Payment Sequencing - Taxpayers fortunate to have a pension may want to delay their work exit date/pension start date to do Roth conversions or realize capital gains on taxable accounts before RMDs begin. Individuals must “do the math” to see if this strategy will work.

Pension 192

Pension Taxes Deductible Deductions 192

Employee Benefits

JULY 17, 2023

As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement. Organisations should engage employees in their future finances by introducing schemes to improve financial literacy and provide better pensions information.

Pension 98

Pension Finance Salary Government 98

Money Talk

MAY 18, 2022

2021) or 90% of current year (2022) tax liability using a W-4 form at work for job-related income tax withholding; withholding for Social Security, a pension, and required minimum distributions through account custodians; and/or quarterly estimated payments using IRS Form 1040-ES.

Taxes 263

Taxes 401(k) Deductible Deductions 263

Money Talk

JULY 25, 2024

It is also easier to keep personal and business finances separate by maintaining dedicated bank accounts and credit cards for business transactions. Stick to a Schedule - Invoicing clients promptly and following up on overdue payments can maintain healthy cash flow and avoid disruptions to personal finances.

Employment 163

Employment Health Insurance Pension Deductible 163

Employee Benefits

JUNE 26, 2023

With interest rates on the rise, we often get asked at our financial education sessions, is it best to pay off your mortgage or pay into your pension? He concludes, “Many employers offer financial education in the workplace, to help their staff to understand their finances so they are better prepared to make decisions like these.”

Pension 98

Pension Finance Education Taxes 98

Money Talk

JANUARY 18, 2023

This includes Social Security recipients, retirees with COLA-adjusted pensions, and workers with COLAs stipulated in their job or union contracts. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

401(k) 246

401(k) Banking Deductible Deductions 246

Employee Benefits

JANUARY 19, 2023

As the cost of living crisis continues, it is now more important than ever that new parents understand how their finances will be affected and what actions they can take. WEALTH at work, a leading financial wellbeing and retirement specialist, highlights some top tips to help new parents stay in control of their finances: 1.

Finance 105

Finance Parental Leave Pension Salary 105

Employee Benefits

JULY 25, 2023

Transitioning to a superior provider is no longer a hassle: If you’re contemplating changing your current workplace pension scheme, the process isn’t as challenging as you might think. Many pension companies (we’re one of them!) What is a workplace pension? are prepared to assist you with the heavy lifting.

Pension 96

Pension Net Pay Taxes Salary 96

Money Talk

FEBRUARY 1, 2024

Backstops Can Mitigate Risk-Taking - Some investors feel that they can take on more investment risk when they have a guaranteed source of income (think tenured educators or retirees with a pension and/or annuities). A good rule to follow to build financial knowledge is to learn one new thing every day about personal finance (e.g.,

401(k) 189

401(k) Finance Pension Commissions 189

Money Talk

JULY 29, 2022

bank and investment accounts, pension, Social Security) should have a two-factor (a.k.a., This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

Banking 275

Banking Pension Media Finance 275

Employee Benefits

MARCH 13, 2023

In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings. We deliberately structured the new policy to be more pro pensions than it was.

Pension 72

Pension Finance Education Professional Services 72

Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The majority (84%) of those with a workplace pension agreed that increased financial education around pensions would be helpful.

Pension 81

Pension Employment Salary Finance 81

Money Talk

AUGUST 30, 2022

a pension and Social Security). This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. The amount of savings placed in an annuity should support longevity goals beyond other reliable income streams (e.g.,

Retirement Plan 246

Retirement Plan Taxes Finance Pension 246

Money Talk

OCTOBER 11, 2023

Back-Up Income - When older adults start a business, they often have back-up income sources such as Social Security, a pension, or an annuity. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

Employment 216

Employment Deductible Deductions Taxes 216

Employee Benefits

MAY 2, 2024

The government has published statutory guidance setting out the staged timetable by which it expects pension schemes to connect to the Pensions Dashboards. With the launch of the Pensions Dashboards approaching there is potential to develop this into ‘Open Finance’ which is an extension of Open Banking.

Pension 52

Pension Finance Banking Government 52

Employee Benefits

APRIL 28, 2023

Cornish charitable housing association Coastline Housing has received living pension accreditation from the Living Wage Foundation. Launched last month , the living pension is a voluntary savings target for employers who want to help workers build up a pension that will provide enough income for everyday needs in retirement.

Pension 69

Pension Benefits Package Finance Salary 69

Money Talk

JANUARY 19, 2022

For example, workers with a guaranteed pension and/or a high investment risk tolerance might want to have more stock exposure in a TDF and would chose a target date farther off in the future. from a pension or annuity) is associated with increased financial satisfaction vs. simply having a lump sum to manage.

Flexible Spending Account 188

Flexible Spending Account Taxes Pension Deductible 188

Money Talk

AUGUST 10, 2022

pension, Social Security, annuities, required minimum distributions) may necessitate adjustments in tax withholding or quarterly estimated tax payments. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

Disability Insurance 246

Disability Insurance Taxes Health Insurance Pension 246

Money Talk

AUGUST 31, 2023

pension, Social Security, annuities, dividends/capital gains, full- or part -time employment, self-employment) minus fixed (e.g., Baby Boomers were “guinea pigs” for the use of 401(k)s, often as a substitute for defined benefit pensions. rent and car payments), variable (e.g., gas, food, and gifts), and occasional (e.g.,

401(k) 160

401(k) Pension Food Finance 160

Money Talk

APRIL 11, 2024

Baby Boomer Challenges - Baby boomers (born 1946-1964) were the first generation with the ability to save money for retirement in 403(b)s, 401(k)s, and IRAs for decades (their parent’s generation had pensions). Many have accumulated significant sums and need tax planning help.

401(k) 186

401(k) Taxes Retirement Plan Pension 186

Employee Benefits

JULY 12, 2024

Unported Deed, resized Emma Reynolds, the elected Labour MP for Wycombe, has been appointed parliamentary secretary for both the Department of Work and Pensions (DWP) and HM Treasury. The new joint role is part of the new government’s recognition that pensions are the responsibilities of both departments.

Pension 59

Pension Government Finance Employee Benefits 59

Employee Benefits

JANUARY 18, 2022

As people age, making ends meet day-to-day takes a back seat as finances become more stable. Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. Perhaps they’ve taken a career break to raise a family or freelanced without a pension in place. In one sense, they’re right.

Pension 141

Pension Pension Benefit Finance Salary 141