Employee benefits

Many older workers don’t know they are allowed to take penalty-free withdrawals from their 401(k), 403(b) and 457 plans.

FINRA Rule 3210 typically requires permission for brokerage accounts.

An average couple aged 65 who are about to retire this year will need $285,000 to cover healthcare expenses.

A lump-sum distribution for net unrealized appreciation on employer stock can slash a tax bill in half, but there’s plenty of fine print.

With income taxes attached to hardship withdrawals, they are often advised to carefully weigh other options.

As much as 46% believe Medicare will cover the costs of long-term care.

The approved legislation relaxes rules for retirement savers.

Seniors who hold retirement savings in various assets should develop a tax-efficient withdrawal strategy.

Lawmakers are poised to merge two bills that would make it easier for workers to save for retirement.

They are not required to pay taxes on income accrued from properties leased for no more than 14 days.

Clients who consider contributing to their health savings accounts past their full retirement age are advised to rethink their plan.

The regulator and one of its largest members, LPL Financial, engaged in a back-and-forth on the controversial initiative.

With accounts now often reaching seven figures, estate planning expert Natalie Choate delved into the complexity of the increasingly important tool.

Some seniors are missing out on a potential 20% tax deduction, and “no one is talking about what a wonderful retirement planning technique" it is, says an expert.

In one case, a 6-year-old owed $7,000 in federal taxes two years after his father, a U.S. Navy senior chief petty officer, died of a heart attack.

Seniors in this position may face a tax bill and possibly a penalty if they dip into their 401(k) prematurely, says an expert.

The S&P 500 bottomed in March 2009, but clients have since seen a huge boost in their retirement savings.

With longer life expectancies leading to increased health care spending later in life, experts are second-guessing the 10% savings rule.

“People didn’t want to use up their estate tax exemption,” but that has changed as a result of the new law, an expert says.

A market correction only becomes a real risk if investors act and make buy or sell decisions to alleviate mental anguish today at the expense of tomorrow, says an expert.