Translating account balances to retirement income boosts savings

Receiving periodic retirement income estimates based on account balances can help improve retirement decisions

Jon VoglerTime to read: 2 min

LIMRA Secure Retirement Institute research shows that 52% of workers surveyed say it is difficult to know how retirement savings will eventually translate into monthly income. The findings suggest that offering retirement income estimates to employees can help bridge this knowledge gap and help spur increased saving. 

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House passes retirement component of Tax Reform 2.0

The bill includes changes affecting minimum distribution requirements, multiple employer plans, Universal Savings Accounts, individual retirement accounts and 529 plans

Jon VoglerTime to read: 2 min

On Sept. 27, the House of Representatives approved retirement reform legislation (the Family Savings Act) as part of the “Tax Reform 2.0” package of bills.

The House also passed the American Innovation Act of 2018, which is the small business innovation portion of the Tax Reform 2.0 package. On Sept. 28, it also passed the Protecting Family and Small Business Tax Cuts Act of 2018, which is the part of the package that would make permanent various individual and small business tax provisions from the Tax Cuts and Jobs Act.

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ICI reports offer insights into the characteristics of IRA investors

The studies reveal differences between traditional and Roth IRA investors’ ages, asset allocations and contribution activity

Jon VoglerTime to read: 2 min

The Investment Company Institute (ICI) recently issued two reports on individual retirement accounts (IRAs) that describe the habits and behaviors of IRA investors. Titled “The IRA Investor Profile: Traditional IRA Investors’ Activity, 2007 – 2016” and “The IRA Investor Profile: Roth IRA Investors’ Activity, 2007 – 2016,” thereports analyzed data from The IRA Investor Database™, which tracks more than 17 million IRA investors. This information provides detail on the typical age of investors in both traditional and Roth accounts, how they begin saving in IRAs and the differences in asset allocations between owners of the two.

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Reconsidering caregiver retirement benefits

Policy experts recommend adding Social Security wage credits for caregivers

Jon VoglerTime to read: 3 min

While traditional family roles have been evolving, it is still true that women tend to work fewer years and earn less than men during their careers. One major reason for this discrepancy — women usually serve as the main family caregivers. A new study suggests recent demographic changes are further harming women’s ability to fund their retirements, leading policy experts to recommend ways to counter this trend.

New study adds to concern for women in retirement

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New tax reform bill includes retirement provisions

The Family Savings Act seeks to simplify existing rules for retirement savings

Jon VoglerTime to read: 3 min

On Sept. 10, House Ways and Means Committee Chairman Kevin Brady, R-TX, unveiled three bills that seek to build on the 2017 tax reform law. One bill would make certain individual and small business tax cuts permanent. Another includes a tax provision related to business innovation. Finally, the package includes the “Family Savings Act of 2018,” which would simplify existing rules to make it easier to save for retirement. Given this bill’s focus on retirement, we are providing additional detail below.

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