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Category: Retirement

Retirees, get ready for year-end

Retirees, get ready for year-end

The end of the year brings with it the impetus for review and taking into account any issues needed to be resolved by Dec. 31, and some can help reduce your taxes. Keep in mind that once you reach age 70 ½, you are required to take a minimum distribution amount from your retirement account annually.  According to Christian Brothers Services’ partner Vanguard, if you do not take withdrawals, or you take less than you should, you’ll owe a 50…

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How to manage a benefit plan for your workforce

How to manage a benefit plan for your workforce

“Employers in Catholic organizations and dioceses are faced with a difficult balancing act of wanting to provide a safe and secure retirement benefit for employees without unduly taxing their budgets. Many employers may believe that continuing to offer a defined benefit plan is not feasible though at the same time understand the important foundation a defined benefit plan brings to the retirement security of their employees.” Managing a benefit plan for your workforce can be challenging. There are a host of issues to consider from basic financial considerations to providing…

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Are you ready to retire?

Are you ready to retire?

Celebrated every third week in October, National Retirement Security Week is a concentrated effort to raise awareness about the importance of saving for retirement. When Senators Gordon Smith (R-OR) and Kent Conrad (D-ND) introduced the first resolution establishing National Save for Retirement Week in 2006, one of the goals was to encourage employees to save and participate in their employer-sponsored retirement plans. In 2016, recognizing the significant increasing cost of retirement, the Senate passed Resolution 575 supporting the goals of…

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