What’s most important about the legislation is what’s not in it. It does not extend the CARES Act provisions for coronavirus-related distributions (CRDs) beyond December 30, 2020 and does not extend the RMD waiver beyond 2020. The new law does include retirement plan disaster relief for non-COVID-19 disaster declarations. The relief is the same as […]
As the United States sees a rise in cases of COVID-19 across the nation, news of two promising vaccines out of hundreds being tested has offered a ray of hope for a fatigued world.1 A positive reaction to these vaccines affects every aspect of human life, including the financial world. On Monday, November 16th, The […]
Beginning with the first full pay period of 2021, the TSP is dramatically changing the way that it processes Catch-Up contributions. The new method includes both Civilian and Uniformed Services participants. If you are paid by the National Finance Center, the spillover methodology will be effective PP26, as that’s the pay period associated with the […]
Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy. The U.S. Department of Health and Human Services estimates that 70% of people over age 65 can expect to need long-term care services at some point in their lives.1 So understanding the […]
“I had a comment about LTC coverage, my mom had a number of health issues and required institutional 24/7 “memory” care the final year of her life. My dad found out the hard way how expensive the care costs in 2017. It was over $12,000 a month at the “nicest” hospital. He wound up moving […]