Editor’s Note: This is part of an ongoing series that provides a look at content available through the NTSA Advisor’s weekly MarketBeat feature, an archive of which is contained in the Industry Intel section of the NTSA website here. This installment concerns savings and income.
Retirement Income and Saving
Retirement Income Projections: Best Practices
In a blog post about best practices, ERISA attorney Fred Reish explores retirement income projections as a way to better serve plan participants. And he cites the 403(b) market as among those such information can serve.
Income Estimates a Simple But Effective Tool
The alarm bells have long been sounding that many retirees are in for a rude shock when they find they didn’t save enough. John Iekel writes about a blog entry that argues that information is a key to improving retirement savings and softening the blow.
What Will Retirees Owe in Taxes on Retirement Income?
How much will retirees owe in taxes on their retirement income? John Iekel discusses a paper in which researchers estimate the taxes a group of recently retired households will pay on what they earn during their retirement. They look at Social Security benefits and estimated state tax liabilities to project income and taxes over retirement for each household.
A Retirement Dashboard for the U.S.?
Noting that the U.S. retirement system is not easy to navigate, a white paper calls for the creation of a retirement dashboard to help savers better manage and keep track of their savings. Ted Godbout discusses the paper’s contention that “While it would not address systemic problems such as coverage, a dashboard could reduce the strain that a complex retirement system imposes on households.”
3 Retirement Income Impacts That Can Impact Retirement Income
Most of the focus on retirement savings is on those who haven’t saved enough, or who lack access to the platforms to make saving enough easy. Nevin E. Adams, JD, offers an additional insight, writing that even those who have done the “right” things can nonetheless have their retirement planning realities tripped up.
9 Things You May Not Know About the Saver’s Credit
As he was pulling together tax information, Nevin E. Adams writes, he was reminded that, in addition to the benefits of pre-tax savings and deferred taxes on retirement savings, there’s another tax benefit of which many aren’t aware—the Saver’s Credit.
A Savings Account
“My decision as to whether or not to save in my workplace savings plan wasn’t long or complicated,” writes Nevin E. Adams, JD, continuing that “at age 22 I’d not always fully embraced my parents’ counsel—my mother didn’t hesitate to insist that I did so.”
Retirement Readiness
Are You Ready for Retirement Readiness?
Retirement readiness is an increasing concern among 403(b) plan sponsors. Michael Webb examines retirement readiness and argues that while it is not an easy problem to solve, it also is an opportunity for advisors and plan vendors to provide valuable assistance.
Groundhog Ways
Once a year, America turns its attention to Punxsutawney, PA to get a read on the duration of winter. Nevin E. Adams, JD writes that “as complicated as it surely must be to accurately predict the end of winter, that at least is an event in the relatively near term. And one that requires only the emergence from one’s burrow. Predicting retirement outcomes… well, that’s a whole other thing.”
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