Retirement planning

IMGCAP(1)]With middle-class families taking big losses in their 401(k) and other investments, many are concerned that they might not have enough money to retire without running out.

The recent implosion of the major stock market indices has hit Baby Boomers pondering retirement particularly hard - right in the proverbial nest egg. Many people are opting to remain in the workforce longer given the loss in their retirement portfolios. With this longer work horizon, planning for retirement and the location of retirement is still a goal for many.

The Governmental Accounting Standards Board has issued final standards on postemployment benefits and municipal bankruptcy.

The number of employers planning to offer annuities to participants in their 401(k) plans is expected to grow as companies look for ways to provide workers with a steady distribution of benefits during retirement, according to a new survey.

Promoters have been marketing on the Internet the use of 401(k) funds to purchase franchises or startup businesses, which normally require up-front material sums of monies to launch.

RAYMOND JAMES RAISES AUM MINIMUM FOR NEW ADVISORS

The Internal Revenue Service said it is temporarily closing its determination letter program for adopters of pre-approved defined-benefit plans.

For more than a decade, my mother resided in the bucolic hamlet of Ludlow, Vt. Those of you who enjoy winter sports may recognize the town as home to Okemo, one of the Green Mountain State's wildly popular ski areas. But nearly 70 years ago, the town received notoriety for something other than downhill racing or snowboarding. For it was on Jan. 31, 1940, that the town's Ida M. Fuller became the first citizen to receive an old-age monthly benefit check under the newly passed Social Security law. For those keeping score at home. Mrs. Fuller paid in $24.75 between 1937 and 1939 on an income of $2,484. Her first check was cut in the amount of $22.54.

BETTER ADVICE COULD REDUCE RETIREMENT PLAN FEES

When it comes to their retirement, 50-somethings seem to be in a state of denial about how long their retirement savings will last, according to a new study.

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 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 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.

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.

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.

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.

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 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.

As an accountant and an advisor, you're sure to see a decline in the charitable giving of an appreciable percentage of your clientele. Don't be surprised to see clients heave a sad sigh when they admit that the donation they had planned to make to endow a chair at their alma mater is not going to happen during their lifetime, or even through their estate. How can you help them make that dream a reality?

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.