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• IRS Issues Guidance on Minimum Distribution Waiver

  November 3, 2009

  Congress decided last year to waive required minimum distributions from retirement savings plans for 2009, but there is still some confusion about how to apply the waiver.

• Automatic 401(k) Enrollment Is Not for Everyone

  October 27, 2009

  Automatic enrollment for employees in 401(k) plans appears to significantly increase participation, but may not be suitable for all retirement plan sponsors, according to a new government report.

• Intuit to Expand 401(k), Health Insurance Market

  October 21, 2009

  Intuit plans to expand its presence in the market for helping small businesses manage their 401(k) and health insurance benefits, even though many of its own customers do not offer such benefits.

• Employees Stick with Workplace Retirement Plans

  October 20, 2009

  Despite the uncertain market conditions and negative headlines of the past year, most Americans who participate in employer-sponsored defined contribution plans continue to support them, according to a new survey.

• Majority of Companies Reduce Bonuses

  October 19, 2009

  Fifty-five percent of companies are cutting their bonuses and 26 percent are reducing their 401(k) matches for employees, according to a survey of CFOs and senior comptrollers by Grant Thornton.

• Roth IRA Rule Changes Prompt Financial Consultations

  October 15, 2009

  A pending rule change in the eligibility requirements for a Roth individual retirement account could encourage more people to seek out guidance from their financial advisors, according to a new survey.

• IRS Creates Retirement Plan Tool for Small Business

  October 13, 2009

  The Internal Revenue Service has created a new Web-based tool to help small-business owners determine which tax-favored pension plan best suits their needs and how to keep their plans in compliance.

• Better Advice Could Reduce Retirement Plan Fees

  October 6, 2009

  Better information and guidance could improve the oversight of retirement plans and reduce fees for participants, according to a new report by the Government Accountability Office.

• Moving in Virtuous Circles

  October 19, 2009

• Nearly Two-Thirds of Households Lack Financial Plans

  September 29, 2009

  Preparing for retirement and managing income while in retirement are among the top issues confronting American consumers, according to a new survey, but despite those concerns, the majority of households lack a written financial plan.

• GAO Weighs How to Minimize 401(k) ‘Leakage’

  September 29, 2009

  A new report from the Government Accountability Office examines how to minimize the loss in retirement savings that occurs when 401(k) participants tap into their accounts early.

• Investors Soon Forget Financial Crisis Lessons

  September 22, 2009

  A new survey reveals that many investors are once again taking for granted the old assumptions they had about their retirement savings.

• Recession Produces Retirement Planning Worries

  September 15, 2009

  The recession has prompted more people to worry about proper retirement planning, according to a new survey.

• Nearly Half of Retirees Support Others

  September 9, 2009

  Forty-four percent of retired Americans admit to supporting at least one individual financially, according to a new survey by Charles Schwab.

• Retirement Planning the Obama Way

  September 9, 2009

  President Obama described several ways over the weekend that he plans to help Americans save more for their golden years, but reducing unemployment and reversing the stagnation of wages are going to do the most good for a secure retirement.

• Obama Aims to Increase Retirement Savings

  September 8, 2009

  President Obama outlined a series of initiatives the federal government would take to help people boost their retirement savings.

• GAO Sees Tradeoffs in Pension Plan Alternatives

  August 25, 2009

  Recent losses in the stock market have jeopardized the pension savings of many U.S. workers, but the alternative approaches followed by other countries may provide possible solutions as well as problems of their own.

• Social Security COLAs Become Un-COLAs

  August 24, 2009

  The trustees who oversee Social Security project that retirees will not receive cost of living adjustments for the next two years.

• GASB to Decide on Municipal Bankruptcy Standards

  August 14, 2009

  The Government Accounting Standards Board has drafted proposed standards for local government bankruptcies, and is giving interested parties until August 28 to comment.

• Employers Scale Back 401(k) Contributions

  August 11, 2009

  Forty-six percent of the 1,000 corporations polled in a recent survey said they plan to reduce or eliminate employer contributions to their 401(k) plans or already plan to do so, even as their overall benefit budgets increase.

• SunGard, iShares Team on ETF Retirement Plans

  July 28, 2009

  SunGard and iShares are partnering on a system that will allow advisors and third-party administrators to incorporate exchange-traded funds as a standard option in retirement plans.

• Retirement Plans Face Challenges

  July 21, 2009

  The Congressional Research Service has issued a new report, “401(k) Plans and Retirement Savings: Issues for Congress,” that describes seven major policy issues facing defined contribution plans.

• Breslow Starling Joins AICPA Benefit Plan Center

  July 13, 2009

  Accounting firm Breslow Starling has been accepted into the Employee Benefit Plan Audit Quality Center by the American Institute of CPAs.

• 9.5 Million Retirees Want to Return to Workforce

  July 7, 2009

  As many as 9.5 million retired Americans are considering at least a partial return to the workforce, according to a new study by Charles Schwab.

• CBIZ Acquires Employee Benefits Firm

  July 1, 2009

  CBIZ has acquired EAO Consultants, an employee benefits firm also known as Egan, Amato & O’Connor, expanding the accounting provider’s benefits-consulting expertise in the Northeast.

• House Committee Clears Bill on Hidden 401(k) Fees

  June 30, 2009

  The House Education and Labor Committee has approved a bill that would require 401(k) plan providers to provide clear, complete information about the fees they charge.

• Employers Support 401(k)’s Despite Performance

  June 23, 2009

  A new survey shows backing for 401(k) plans by senior finance and human resources executives, even though many of the plans have performed poorly during the financial crisis.

• ExpertPlan Buys Part of ADP’s Retirement Business

  June 19, 2009

  Retirement plan recordkeeping service provider ExpertPlan has acquired portions of ADP’s retirement plan recordkeeping business that service independent third-party administrators.

• Workers Delay Retirement as 401(k)’s Take a Hit

  June 19, 2009

  As workers experience large losses in their retirement funds, a significant number are planning to delay their retirement, according to a new survey.

• Workers Hope to Change Jobs, Eventually

  June 18, 2009

  About 54 percent of employed Americans plan to look for a new job once the economy rebounds, according to a new survey.

• SEC Probes 401(k) Target Date Funds

  June 18, 2009

  The SEC and the Department of Labor convened a hearing Thursday to decide whether to tighten the rules for financial services companies that offer target-date funds in their 401(k) plans.

• ‘Perfect Storm’ Could Derail Retirement Plans

  June 16, 2009

  A “perfect storm” of demographic, individual and financial elements is poised to undermine people’s retirement plans unless they prepare properly, warns a new global survey.

• More Retirement Health Savings Needed

  June 11, 2009

  Retirees will need far more money to cover their health care expenses than previously estimated, according to a new study.

• Most Americans Not Prepared for Retirement

  June 5, 2009

  The recession has not prompted many people to change their behavior and start saving more for retirement, according to a new survey by Charles Schwab.

• Engineers Can Apply Financial Design

  June 5, 2009

  The huge changes in the automotive industry have caused many engineers to lose focus of their overall financial plan.

• Timing the Market? No Way!

  May 29, 2009

  It has been said repeatedly that the one aspect most investors can really count on is that markets are cyclical.

• Social Security Recipients Urged to Go Direct Deposit

  May 22, 2009

  The Treasury Department is advising Social Security check recipients who live in hurricane- and other disaster-prone areas to switch to direct deposit as hurricane season gets underway along the Gulf Coast and Eastern seaboard states and severe weather continues to impact other regions of the country.

• New Aviator 401(k) Program

  May 20, 2009

• Financial Planners Earn 40 Percent More

  May 20, 2009

• IRS Tries to Fix Withholding Problems

  May 14, 2009

  The IRS is providing a new withholding adjustment option for pension plans as a way to get around some of the glitches that have developed with the new Making Work Pay tax credit.

• Having the Long-Term Care Conversation

  April 19, 2009

  Long-term care is an immensely valuable form of insurance, both for clients and their beneficiaries. According to the American Association for Long-Term Care Insurance, 20% of the elderly require more than five years of long-term care, another 20% require two to five years and 30% require two years or less. Only 31% require no long-term care at all.

• Toolbox: New Retirement Products

  March 31, 2009

• Financial Planning Briefs

  March 31, 2009

• Saving More, Cutting Debt

  March 31, 2009

• Aiding 401(k) Filing Requirements

  March 31, 2009

• ADP Expands Retirement Services

  March 24, 2009

  ADP has launched ADP Access, a retirement program that combines the benefits of ADP's 401(k) plan recordkeeping services and the guidance of a financial advisor.

• Free Webcast: What You Need to Know About Estate Planning

  March 18, 2009

  No matter how much money your client has, it's crucial to have a basic estate plan simply to ensure that the financial goals of the client are met after the client dies.

• Clients, Advisors Urgently Seek Answers

  March 15, 2009

  As the economy worsens and unemployment continues to rise, many people who have stayed invested may be asking themselves if they made a mistake by not selling out and remaining in cash.

• Financial Planning Video Site Launches

  March 5, 2009

  The American College has introduced a video-on-demand Web site that will provide information for financial planners on wealth management and related topics.

• Taking Early Distributions from Retirement Plans

  February 23, 2009

  If you took an early distribution from your retirement plan, here are the top 10 things you need to know, according to the Internal Revenue Service.

• Taxability of Social Security Benefits

  February 17, 2009

  How much, if any, of your Social Security benefits are taxable depends on your total income and marital status.

• Retiring: It's Not What's For Dinner

  February 10, 2009

  Retirement doesn't have to be just about bingo and shuffleboard.

• This Year's 10 Investment Resolutions

  February 6, 2009

  Manny Weintraub is the founder, principal, and portfolio manager of Integre Advisors, based in New York City.

• 70 Is the New 65

  February 6, 2009

  Many Americans are planning to delay retirement, postpone vacations and reconsider buying or selling their homes as the result of the economy, according to a new survey by the American Institute of CPAs.

• CPA Financial Advisors Reassure Worried Clients

  February 6, 2009

  Clients are coming to their CPAs with concerns about their shrinking retirement savings as the recession deepens.

• No Minimum Distributions Required for 2009

  February 1, 2009

  There is a waiver of the minimum distribution rule for 2009 for employer-provided qualified retirement plans, individual retirement accounts, and annuities in the "Worker, Retiree, and Employer Recovery Act of 2008," (P.L. 110-458, 12/23/08).

• Roth Conversion Might Pay

  February 1, 2009

  "While the sharp stock market decline has no immediate tax effect on pre-retirement-age taxpayers who invested their traditional IRAs or Roth IRAs in stocks and mutual funds, there are tax strategies for owners of traditional or Roth IRAs to consider," says Bob Trinz, senior tax analyst from the Tax & Accounting business of Thomson Reuters.

• ExpertPlan Acquires Actuarial Enterprises

  January 20, 2009

  Retirement recordkeeping software developer ExpertPlan has acquired Actuarial Enterprises Inc., a third-party administrator of defined benefit and insurance plans.

• Retirement Decked by Economic Uncertainty

  January 16, 2009

  Eighty-eight percent of financial advisors now say that their clients are "off-target" for a timely retirement,

• Millionaires' Net Worth Plunges 30 Percent

  January 9, 2009

  U.S. households worth $1 million or more have seen their assets decline 30 percent during the financial crisis, according to a new report.

• Patty Duke and Cousin Pitch Social Security

  January 9, 2009

  Patty Duke and her look-alike cousin from her old TV series are back, this time helping seniors apply for Social Security benefits online.

• IRS Extends Deadline for 403(b) Plan Sponsors

  January 5, 2009

  The Internal Revenue Service recently gave 403(b) plan sponsors an extra year to comply with new requirements.

• Premature Cashing in Not a Good Idea

  January 2, 2009

  It looks as though many Americans are cashing in their 401(k)s prematurely.

• FASB Formally Defers FIN 48, Provides Retirement Plan Disclosure Guidance

  January 2, 2009

  The Financial Accounting Standards Board has released a staff position officially deferring the effective date of FASB Interpretation 48, "Accounting for Uncertainty in Income Taxes," for nonpublic pass-through entities and nonprofit organizations, and released guidance on accounting for the assets in postretirement plans.

• ROBS Retirement Plans Targeted

  January 1, 2009

  An IRS memorandum has been issued containing audit guidelines for a version of a qualified plan being marketed as a means for prospective business owners to access accumulated tax-deferred retirement funds without paying applicable distribution taxes in order to cover new business start-up costs.

• Focus on... Collective Investment Funds

  January 1, 2009

  A collective investment fund (CIF) is an investment vehicle that combines the tax exempt assets of various individuals and organizations to create a well diversified portfolio.

• Financial Planning Briefs

  January 1, 2009

  College for Financial Planning expands scholarship program; fiscal 2008 SEC enforcement results; growing demand for retirement income planning; H.D. Vest offers remote check scanning; Ameriprise completes Seligman acquisition; predicting mutual funds' performance; taking Social Security early; SEC modernizes disclosure requirements for foreign companies offering securities in U.S. markets.

• What Clients are Doing

  January 1, 2009

  Clients of CFP professionals are taking steps in line with their long-term financial goals, with some 45 percent moving their assets to lower risk investments while 40 percent are taking advantage of lower stock prices.

• Making The Retirement Decision

  January 1, 2009

  At a conference presented by Berdon LLP, Scott Ditman recommended that the first step for Baby Boomers considering retirement is the creation of an anticipated budget based on fixed and discretionary expenses and matching that against anticipated income.

• Integration Framework Offered by Thomson Reuters

  January 1, 2009

  Thomson Reuters announced that it will offer its Framework Integration Services as a complimentary service to all Thomson ONE Wealth Management customers.

• Enhanced Financial Planning Content to Aid Advisors

  January 1, 2009

  SunGard says it has enhanced the financial planning content available in its WealthStation wealth management platform to help firms attract, service, and grow client relationships.

• Changes in Mutual Funds Disclosure Coming

  January 1, 2009

  The SEC has voted unanimously to improve mutual fund disclosure by requiring that funds provide investors with a concise summary in plain English of certain key information they need to make informed investment decisions.

• Market Demand for CPA Financial Planners

  January 1, 2009

  CPA financial planning practices are growing at a faster rate, and also have higher profit margins than non-CPA firms offering the same services.

• Retirement In Crisis

  January 1, 2009

  There is no question that in today's economic climate, lots of people have lots of different questions.

• "Heading Off" a Crisis

  January 1, 2009

  How is it possible to keep your head on straight when we are seeing an enormous drop in wealth in our retirement and personal accounts?

• The Four Things You Need to Know

  January 1, 2009

  When it comes to retirement planning, your clients are constantly bombarded with information. Rather than serve to educate them, it has the reverse affect--it frightens them

• Helping Clients Contain their Concerns

  January 1, 2009

  Firefighters use the term 'containment' to describe the degree to which they are able to limit a wildfire from spreading. In today's economic firestorm, as we wonder whether 'retirement is burning,' we can adapt this concept of containment to keep our clients' worries in check.

• Straight Talk on Boomer Retirement

  January 1, 2009

  A growing number of baby boomers, America's largest generation, are considering retirement in the midst of what many are calling the worst economic environment since the Great Depression.

• Toolbox: New Retirement Products

  January 1, 2009

  Today's investors are tomorrow's retirees, and they are understandably anxious.

• Lawmakers Want Bush to Suspend Minimum 2008 Distributions

  December 29, 2008

  A group of 61 members of Congress has written to President Bush asking him to suspend rules that require senior citizens to withdraw money from their severely depleted retirement accounts by the end of the year.

• Financial Crisis Survey

  December 24, 2008

  Please respond to a short survey on how you are helping your clients cope with the financial crisis.

• Financial Crisis Proactivity

  December 23, 2008

  I have also come across a number of firms that have put together financial crisis teams to consult with clients.

• Retirement in Crisis

  December 19, 2008

  There is no question that in today's economic climate, lots of people have lots of different questions.

• The spirit of accounting: Tick, tick, tick goes the P-bomb

  December 15, 2008

  It's hard to believe we can write another column about pensions and the bad GAAP applied to them, but here we are again, beating the same old drum. In addition, there is a new drum in the Pension Protection Act of 2006.

• Keeping Retirees Afloat in a Changing Economy

  December 15, 2008

  Government officials now expect 401(k) plan sponsors to conduct periodic due diligence reviews. With respect to their 401(k) or other retirement plans, the problem is that most sponsors (owners) do not have the in-house resources to do so.

• Congress Kills Minimum Distributions for 2009

  December 15, 2008

  Congress has passed a waiver of the minimum distribution rule in 2009 for employer-provided qualified retirement plans and individual retirement accounts and annuities.

• IRS Gives Retirement Plans Temporary Reprieve

  December 12, 2008

  The Internal Revenue Service has given schools and tax-exempt organizations more time to finish writing their retirement plans.

• Calling All Alumni

  December 10, 2008

  Has your firm recently lost accountants to retirement? Maybe it's time to tap into those firm alumni for extra help during busy season.

• Is Your Nest Egg Burning?

  December 4, 2008

  A special Web seminar from the Financial Crisis Center addresses crisis strategies for your financial planning clients.

• Pension and Other Limitations for 2009

  December 1, 2008

  IRS announced cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2009 (IR-2008-118).

• Notices on Failure to Defer Plan Distributions

  December 1, 2008

  Proposed regulations would provide that the notice required under Section 411(a)(11) to be provided to a participant of his or her right, if any, to defer receipt of an immediately distributable benefit must also describe the consequences of failing to defer receipt of the distribution.

• Financial Planning Briefs

  December 1, 2008

• Life Insurers' Problems with Variable Annuities

  December 1, 2008

  Fitch Ratings says that the equity market performance this year is having an impact on U.S. life insurers active in the variable annuity market.

• Boomers Cutting Retirement Savings

  December 1, 2008

  A new survey by AARP reveals that a fifth of middle-aged workers stopped contributing to their retirement plans this past year and that a third had considered delaying retirement.

• Postponing Retirement

  December 1, 2008

  The current financial crisis is also having a substantial impact on retirement plan participants.

• Social Security Benefits to Increase by 5.8 Percent

  December 1, 2008

• 2009 Deductibility for Long-Term Care Insurance

  December 1, 2008

• Family Wealth in Crisis: Interim Help

  December 1, 2008

  The Le Van Company in Black Mountain, N.C. has suggested specific interim strategies to help wealthy families make better decisions during the current financial crisis.

• Growth and Prosperity for Financial Advisors

  December 1, 2008

  The success of financial advisors in profitability, revenue growth, and attracting clients was the overriding theme in the 14th edition of the 2008 Moss Adams LLP Financial Performance Study of Advisory Firms, recently released and sponsored by Genworth Financial Wealth Management.

• Comforting Clients Who Are Grieving

  December 1, 2008

• Specifying Role of Financial Advisor

  December 1, 2008

• Protecting Older Investors

  December 1, 2008

  A joint report outlining practices that financial services firms can use to strengthen their policies and procedures for serving investors as they approach and enter retirement, has been released by the SEC, the Financial Industry Regulatory Authority, and the North American Securities Administrators Association.

• Growing Distrust of Financial Planning Projections

  December 1, 2008

  Past, present, and future projections are more significant as some clients are having doubts about their usefulness.

• Making the Retirement Decision

  November 19, 2008

  Baby Boomers planning for retirement need to stick to a budget, according to one tax expert.

Related Articles

• IRS Issues Guidance on Minimum Distribution Waiver

• Automatic 401(k) Enrollment Is Not for Everyone

• Intuit to Expand 401(k), Health Insurance Market

• Employees Stick with Workplace Retirement Plans

• Majority of Companies Reduce Bonuses

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