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Recent Legislation May Affect Your Retirement Savings

Recent Legislation That Could Change How You Plan for Retirement

By | News, Retirement

Have you heard of the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019? It swiftly passed in the House of Representatives in May, but was halted in the Senate and as of now, is still awaiting the vote. If you’re currently saving for retirement, looking to retire, or are an employer concerned with your retirement savings options for employees, it’s worth diving into this proposed legislation and learning how it can affect you. 

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Why Your Business Should Offer Retirement Benefits

By | Retirement, Business Finance

According to the AARP, nearly half of all working Americans have no access to a retirement savings plan through their employers. (That’s about 32 million people.) Additionally, small businesses with 100 or fewer employees are much less likely to offer retirement plans than are larger businesses. Meanwhile, a 2017 Pew Trusts Report has found that small business owners are more concerned than ever about retirement for both themselves and their employees. The AARP has also reported that American workers find it difficult to regularly save for retirement without access to a savings plan through work. In fact, workers are 15…

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Types of IRAs

The Various Types of IRAs

By | Retirement

IRAs help you save for retirement, but they also provide some tax benefits today. Those benefits depend on the type of IRA you contribute to and how. Below is an overview of the different types of IRAs and the unique aspects of each. Traditional IRAs Traditional IRAs consist of two types of contributions: deductible contributions and nondeductible contributions. Deductible Contributions You’re eligible for deductible contributions if you meet one of the following criteria: You are not actively participating in an employer-sponsored retirement plan, or You are an active participant and your adjusted gross income (AGI) does not exceed a certain…

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