In the wake of the devastating effects of covid-19 on nursing home residents and their staffs, pressure is building on long-term care facilities from congressional Democrats who are exploring ways to accelerate the shift of Medicaid long-term services and supports from nursing facilities to home and community based services (HCBS). Some states are demanding tougher
Retirement
Most retirement plans dive deeply into details on the financial factors, but hardly any effort is devoted to the factor that contributes the most to a successful retirement. Since the pandemic began, however, people are spending more time than usual considering the really important retirement questions. As the pandemic forced lifestyle changes on people and
On March 11th, 2021, President Biden signed the latest COVID-19 stimulus package, known as the American Rescue Plan Act of 2021. The Act comes just in time, because many COVID-19 relief measures were set to expire on March 14th. The American Rescue Plan Act authorized and allocated $28.6 billion to the Restaurant Revitalization Fund program.
During market pull-backs, investors in different generations tend to behave differently. Plan participants close to retirement are more inclined to prematurely exit the market and younger people tend to remain invested. Market, “sequence of returns”1 and longevity risks address those concerns; but longevity risk has likely been the most influential factor over the past several
By Kerry Hannon, Next Avenue It was the shockwave of rejection letters from hiring managers that goaded Guadalupe Hirt and Barbara Brooks to launch SecondActWomen, a Denver-based company designed to help working women in their 50s and older (and also some in their 40s) start companies, pivot careers and stay employed. “They didn’t even give
If you inherited an IRA (individual retirement account), the law says you must take distributions or pay a severe penalty to the U.S. Treasury. How severe? Fifty percent of the amount that should have been withdrawn, but wasn’t. These mandated withdrawals are called required minimum distributions or RMDs; in the case of inheritance, RMDs are
The Employee Retention Credit program was enacted as part of the CARES Act on March 27, 2020, to provide reimbursement of wages for businesses affected by the COVID-19 virus and incentivize employers to maintain a pre-pandemic level workforce. The 2020 Employee Retention Credit was not available for PPP borrowers and required a loss in revenue
The 401(k) has become the go-to retirement plan for many Americans and continues to gain traction. The flexibility, tax savings and scale of 401(k) plans have made it attractive to employers and employees alike. But A 401(k) plan doesn’t need to be just for large corporations. It can be used to help small business owners
When reviewing a client’s 401(k) plan, I get pretty jazzed if I see a decent Target Date Fund (TDF) option within their investment lineup. I firmly believe that a TDF is one of the best default investment vehicles within most corporate retirement plans. The way a TDF works is simple. You pick the fund that
Most people make the wrong decisions about when to claim their Social Security retirement benefits. Only about 4% make the optimum claiming decision, according to a study released a couple of years ago by financial services firm United Capital. The researchers had access to data from a long-term health study of Americans and were able