Pensions and Social Security: The Impact of the WEP and GPO

Posted by Justin C. Duft, JD, CFP, MSFS, CLU, ChFC, CLTC

January 25, 2017 at 1:30 PM

When it comes to planning for retirement income for those clients who have a history of working in both the public and private sectors, things can get tricky. Specifically, there are two legislative provisions—the windfall elimination provision (WEP) and the government pension offset (GPO)—designed to prevent these individuals from receiving their full pensions and social security benefits, which can drastically affect how much retirement income they receive.

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Topics: Retirement Income Planning

6 Retirement Questions Financial Advisors Should Prepare For (And Every Client Should Ask)

Posted by Justin C. Duft, JD, CFP, MSFS, CLU, ChFC, CLTC

January 24, 2017 at 10:00 AM

When it comes to planning for the future, clients will have many questions for you, their trusted advisor. By responding carefully—and with relevant, detailed information—you'll help your clients make well-informed decisions and reach their retirement goals.

But what will your clients want to know? Here are six critical retirement questions financial advisors should prepare for (and every client should ask).

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Topics: Retirement Income Planning

How to Help Clients Evaluate Pension Considerations at Retirement

Posted by Maureen Baxter, CLU, ChFC

November 9, 2016 at 1:30 PM

In today’s landscape, there are fewer defined benefit (DB) pension plans offered by private-sector employers. Still, you may have clients who are participants in these plans. As their financial advisor, how can you help clients evaluate pension considerations at retirement, including the different payout options for their DB pension plans? Here, we’ll cover the various payout options available, plus other important factors like the changing regulatory environment, that you can review with your clients to help them make the right pension decision for their individual situation.

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Topics: Retirement Income Planning

What Your Clients Need to Know About Medicare

Posted by Maureen Baxter, CLU, ChFC

November 1, 2016 at 10:00 AM

As you’re probably aware, Medicare is the primary health insurance for people age 65 and older. But it might surprise you to learn that, according to HealthView Insights, the estimated average lifetime premium costs amount to an astounding $266,589 for a 65-year-old couple covered by Medicare Parts B and D and a supplemental insurance policy. Many of your clients may underestimate these costs or fail to account for additional health care coverage expenses.

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Topics: Retirement Income Planning

The Bucket Strategy: Generating Retirement Income for Your Clients

Posted by Brian Glazer

September 27, 2016 at 10:00 AM

“Jack and Jill went up the hill
To fetch a pail of water.
Jack fell down and broke his crown,
And Jill came tumbling after.”

Is this a cautionary tale that kids shouldn’t hold too much in their hands when climbing a hill? Or did Jack and Jill just use the wrong bucket strategy to fetch some water? After years of investigation and some new forensic evidence that has come to light, this cold case has been solved: it was the bucket that dunnit!

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Topics: Retirement Income Planning

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