At the end of 2020, the No Surprises Act made it out of Congress and was signed into law. While the law doesn’t go into effect until 2022, it contains changes that could help curb high costs that stem from emergency services and complex billing practices.
Social Security: The Windfall Elimination Provision (WEP) | Congressional Research Service
The research arm of the U.S. Congress released this updated brief on how the WEP works, why it exists, recent legislative history, and common arguments for and against eliminating. The Congressional Research Service also updated a shorter summary, which includes an overview of the Government Pension Offset.
How much income will your 401(k) provide? | Marketwatch
Making sense of your 401(k) balance can be tricky. Maybe you’ve saved a few thousand dollars. By the end of your career, you might have several times your annual salary. But here’s the thing: you probably won’t spend it all at once. So how can you translate that total dollar amount into an amount that you can feel confident about spending on a monthly or annual basis?
A new rule under development at the Labor Department would require plan sponsors to include retirement income projections along with account balances. This article lays out the strengths and shortcomings of such an addition.
It’s no secret: health care isn’t cheap, especially for retirees. While stories about health care costs often focus on policy changes that could address high prices, this story is about steps individuals can take to prepare for them.
News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.