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Nov 4, 2015

Can myRa bring retirement planning to the masses?

CHICAGO, Nov 4 (Reuters) – The United States needs a sleek
new vehicle for workplace retirement saving – something that
covers the millions of workers who do not have a 401(k) or
traditional pension. But on Wednesday, the White House rolled
out a kid’s bike with training wheels instead, otherwise known
as the myRA.

The U.S Treasury has been beta-testing the plan for the past
year and just now is rolling it out nationally to address the
serious problem of so many workers not having retirement plans.

Oct 28, 2015

How the budget deal changes Social Security for couples

CHICAGO, Oct 28 (Reuters) – Among its many provisions, the
budget deal moving quickly through Congress puts an end to
“file-and-suspend,” a lucrative strategy for couples that can
boost lifetime Social Security retirement benefits by hundreds
of thousands of dollars.

File-and-suspend was a little-known strategy until a few
years ago, but it has been quickly gaining popularity because it
permits married couples to have their cake and eat it too.

Oct 28, 2015

U.S. CEO retirement packages: Bigger than yours

CHICAGO (Reuters) – Most fast food workers do not earn enough to retire with much of a pension. Then there is David Novak, executive chairman of YUM Brands (YUM.N: Quote, Profile, Research, Stock Buzz), the conglomerate that runs Taco Bell, Pizza Hut, and KFC outlets.

Novak’s total retirement holdings, including deferred compensation, are worth $234 million – more than any other Fortune 500 chief executive.

Oct 22, 2015

Long-term care insurance requires long-term planning

CHICAGO, Oct 22 (Reuters) – Long-term care insurance really
is long term: buying a policy commits you to pay premiums over
decades. If you stop those payments, thousands of dollars you
have already spent might as well have gone down the drain.

A new study suggests that is exactly what a sizeable number
of policyholders are doing – allowing their policies to lapse.

Oct 15, 2015

Cost-of-living adjustment is what needs adjustment

CHICAGO, Oct 15 (Reuters) – It is official: Seniors will not
get a cost-of-living adjustment in Social Security benefits in

That is setting off a fresh debate about the program’s
inflation formula and its impact on Medicare premiums.

Oct 8, 2015

Unwelcome news about Medicare’s rising drug plan costs

CHICAGO (Reuters) – Seniors have received some unpleasant news in their mailboxes in recent weeks: premiums for many Medicare prescription drug insurance plans will rise at double-digit rates next year.

Premiums for the ten most popular Medicare Part D prescription drug plans (PDPs) will rise an average of 8 percent next year – the fastest clip in five years, according to Avalere Health, a consulting and research firm. And five of the top plans will boost their average premiums anywhere from 16 percent to 26 percent.

Oct 1, 2015

Obamacare not spurring more early retirements yet despite predictions

CHICAGO (Reuters) – The Affordable Care Act is doing plenty of good for older Americans, but one thing it is not doing is convincing them to retire early.

One prediction of the impact of the healthcare law, commonly known as Obamacare, was that the ACA would end “job lock” – the phenomenon of workers hanging onto jobs just for the health insurance while waiting to become eligible for Medicare at age 65.

Sep 24, 2015

Beefing up advice options for workplace retirement plans

CHICAGO (Reuters) – Would you like some advice with that 401(k) plan?

Two of the leading companies in online investment advice launched initiatives this month aimed at getting more personalized financial advice to workplace retirement savers.

Betterment, a leader in the “robo-advisory” automated portfolio market for retail investors, announced plans this month for a new technology-driven offering for 401(k) plans.

Sep 17, 2015

How to boost the ranks of African-American financial planners

CHICAGO, Sept 17 (Reuters) – Lazetta Rainey Braxton is a
rare bird in the financial planning profession. She is
African-American, a group that accounts for no more than 2
percent of all planners.

Braxton, 42, is working to change that. She is president of
the Association of African American Financial Advisors, known as
the Quad-A, a southeastern regional professional group that
seeks to expand representation of African-Americans in planning.

Sep 10, 2015

One last push to stop Medicare premium increases

CHICAGO, Sept 10 (Reuters) – Should 30 percent of Medicare
beneficiaries shoulder a 52 percent premium hike next year while
the other 70 percent pay no more at all? Advocates for seniors
do not think so, and they are making a push to convince Congress
to stop it from happening.

The Medicare population vulnerable to shouldering the larger
premium includes some federal and state government employees,
people who sign up for Medicare for the first time next year,
low-income seniors whose premiums are paid by state Medicaid
plans and high-income seniors who already pay premium

    • About Mark

      "Mark Miller is a journalist and author who writes about trends in retirement and aging. He has a special focus on how the baby boomer generation is revising its approach to careers, money and lifestyle after age 50. Mark is the author of The Hard Times Guide to Retirement Security: Practical Strategies for Money, Work and Living (John Wiley & Sons/Bloomberg Press, 2010) and edits Mark is the former editor of Crain’s Chicago Business, and former Sunday editor of the Chicago Sun-Times. The opinions expressed here are his own."
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