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Saving for Retirement

Do you plan to retire? Of course you do! But… how do you know if you are preparing correctly for those days of little income? When saving for your retirement there are some important steps to consider. Review the following list and get going on any area you feel hasn’t been addressed in your current financial picture. 1. Start saving as early as possible. For every dollar you save in your twenties, it is worth multiple dollars saved in your forties. Basically, whatever age you are now… start saving as much as you can in your budget for your retirement. … Continue reading →

Pension Protection Act (PPA) of 2006

President George W. Bush signed into law The Pension Protection Act (PPA) on August. 17, 2006. The PPA has some real implications addressing plan sponsors, financial professionals, and investment participants. The intent of this bill is to strengthen workers’ retirement investments by: Changing defined benefit plan funding rules, Establishing a legitimate cash balance plans, Promoting the automatic enrollment in 401(k) plans, Establishing the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) as a permanent improvement, and Allowing the creation of a combination defined benefit and 401(k) plan, known as the DB (k). The bill extends the law and allows the … Continue reading →