Pensions and retirement news covering 401(k), Social Security, public pensions, retirement savings policy, and defined benefit plans.
The article challenges The Ramsey Show's assertion that annuities are unsuitable for most people by identifying specific exceptions under federal tax law. It argues that retirees without pensions whose essential expenses exceed Social Security income, as well as large IRA holders using QLACs, are valid candidates for guaranteed income products.
The commentary argues that Dave Ramsey’s rule regarding retirement withdrawals is flawed because it ignores sequence-of-returns risk. It contends that early market downturns can permanently erode principal despite high average returns, using recent S&P 500 volatility to demonstrate why conservative withdrawal rates are safer than Ramsey’s proposed thresholds.
Bec Wilson contends that Australian super funds must provide affordable, practical retirement planning services as millions approach retirement. She argues that delaying financial decisions narrows options, urging earlier engagement with quality advice to ensure better outcomes for consumers navigating significant life transitions.
Global News explains Canada's Budget 2026 proposal to merge RRSPs and RRIFs into an "RRSP-for-life." The piece details how this administrative change eliminates the mandatory conversion at age 71, allowing retirement savings to continue with tax-deferred growth potentially until death.
British savers are pulling funds from pensions ahead of schedule to avoid new inheritance taxes on unspent defined-contribution accounts starting next April. St. James's Place reported a 17% quarterly increase in withdrawals, a trend analysts link directly to the impending tax policy change.
MarketWatch argues that most Americans lack concrete retirement income plans despite widespread anxiety about future finances. Citing LIMRA data, the piece contends that bridging the gap between concern and action requires professional guidance to transform vague worries into structured financial strategies.
Financial expert Suze Orman urges Americans to increase 401(k) contributions and max out Roth IRAs in 2027. She argues that early savings are critical to counter potential future financial disruptions, such as caregiving duties or AI-driven career shifts, while leveraging compound interest to build substantial retirement wealth.
The piece warns early retirees claiming Social Security at age 62 about the earnings limit risks associated with seasonal work, such as at Toys 'R' Us. It explains how exceeding wage thresholds can withhold benefits, requiring years to recover lost funds, and promotes a retirement income guide as a solution.
This piece analyzes how Michigan's full phase-out of its pension tax is influencing retirement decisions in Grand Rapids. It details the new tax rules, including caps and exemptions, and provides financial examples to show how retirees can now stay in-state rather than moving to lower-tax jurisdictions like Florida or Tennessee.
Milliman reports that U.S. corporate pension funded ratios dropped to 112.4% in October due to falling discount rates outweighing market gains. Zorast Wadia suggests plan sponsors should take steps to preserve surplus levels amid potential volatility before year-end.