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The Retirement Group

Recent Posts

Up-To-Date Market Week

Sep 20, 2021 10:19:40 AM
written by The Retirement Group

The Markets (as of market close September 17, 2021)

Stocks have generally retreated in September on concerns that the Delta variant is slowing the economy's rebound and that the markets, which had been surging, may be primed for a decline. The benchmark indexes generally lost ground for the second consecutive week, with only the Russell 2000 able to close the week in the black. Ten-year Treasury yields climbed 3 basis points last week, the dollar climbed higher, and crude oil prices increased $2.34 per barrel. Among the market sectors, only consumer discretionary (0.5%) and energy (3.3%) advanced. The remaining sectors lost value, led by materials (3.2%) and utilities (3.1%).

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posted in Financial Planning, Lump Sum, Pension

IRS Releases 2022 Key Numbers for Health Savings Accounts

Sep 14, 2021 9:34:25 AM
written by The Retirement Group

The IRS has released the 2022 contribution limits for health savings accounts (HSAs), as well as the 2022 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An HSA is a tax-advantaged account that's paired with an HDHP. An HSA offers several valuable tax benefits for Fortune 500 employees:

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U.S. Census 2020 Results: Takeaways

Aug 24, 2021 2:57:41 PM
written by The Retirement Group

Every 10 years, the U.S. Census Bureau releases its final count of the U.S. population.

The new census numbers determine a state’s congressional representation in the U.S. House of Representatives for the next decade, along with the amount of money each state will receive from the federal government.

The 2020 Census was released in April 2021. Here are a few takeaways.

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posted in Census, 2020

Student Loan Payment Pause Extended Through January 2022

Aug 18, 2021 12:24:43 PM
written by The Retirement Group

You or many in your area may have been expecting to start paying the burden of student loan payments in the upcoming month. On August 6, 2021, the U.S. Department of Education announced an extension of the pause on federal student loan payments to January 31, 2022. The payment moratorium, currently in effect for millions of federal student loan borrowers, was set to end on September 30, 2021.

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posted in Student Loans, Finances

ExxonMobil Interest Rates Trend Downward, Approaching Year End

Aug 17, 2021 12:00:00 AM
written by The Retirement Group


Interest rates are tending downward, if this trend continues it will increase the value of ExxonMobil employees' pension lump-sums. The IRS has recently released the Segment rates for the month of July, recorded at: 0.63% / 2.51% / 3.10%. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter. The short, medium and long term rates released by the IRS have displayed a slight decrease. Even though blended rates for the first quarter of 2022 will not be known until mid October, this recent trend downward might be an early indicator of good news for ExxonMobil employees opting for a lump-sum.

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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Market Month: July 2021

Aug 5, 2021 8:15:00 AM
written by The Retirement Group

The Markets (as of market close July 30, 2021)

Stocks closed generally higher in July, despite a downturn at the end of the month. Second-quarter corporate earnings data was generally strong, although some megacap companies posted weaker-than-expected earnings results. Economic news was mostly favorable. The economy expanded at an annualized rate of 6.5%, 850,000 new jobs were added, while the number of new unemployment claims declined. Industrial production rose, as did new orders for durable goods.

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posted in Market Volatility, Market, July

Antitrust Crackdown Aims to Increase Competition

Aug 4, 2021 3:53:08 PM
written by The Retirement Group

In July, the president issued an executive order intended to "combat excessive consolidation of industry, abuses of market power, and the harmful effects of monopoly." More than a dozen federal agencies were directed to begin working on 72 initiatives that seek to promote robust competition in the U.S. economy, in some cases through new regulations.[1]

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posted in Market, competition, Antitrust

Mid-Year Is a Good Time for a Financial Checkup

Jul 29, 2021 1:59:31 PM
written by The Retirement Group

The first half of 2021 is behind us. As life emerges from the pandemic to a "new normal," a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path.

Reassess your financial goals

At the beginning of the year, you may have set financial goals geared toward improving your financial situation. Perhaps you wanted to save more, spend less, or reduce your debt. How much progress have you made? If your income, expenses, and life circumstances have changed, you may need to rethink your priorities. Review your financial statements and account balances to determine whether you need to make any changes to keep your financial plan on track.

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posted in Financial Planning, Retirement, Mid-Year

New Global Tax Accord Takes Shape

Jul 22, 2021 10:46:38 AM
written by The Retirement Group

After more than four years of international negotiations taking place mostly behind the scenes, 132 countries — representing more than 90% of worldwide gross domestic product (GDP) and including the Group of 20 (G20) large economies — recently agreed to a new plan to reform international tax laws in an effort to "ensure that multinational enterprises pay a fair share of tax wherever they operate."[1] If you work for a U.S. multinational enterprise such as SONY, your company may be subject to the new tax rules.

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posted in Tax, Global

Hostage Data: Ransomware and Protecting Your Digital Information

Jul 20, 2021 9:39:19 AM
written by The Retirement Group

Have you noticed that gas prices have skyrocketed in your area?

Well, on May 7, 2021, the Colonial Pipeline, which carries almost half of the East Coast's fuel supply from Texas to New Jersey, shut down operations in response to a ransomware attack. Colonial paid a $4.4 million ransom not long after discovering the attack, and the pipeline was reopened within a week. While there was enough stored fuel to weather the outage, panic buying caused gasoline shortages on the East Coast and pushed the national average price of gasoline over $3.00 per gallon for the first time since 2014.[1]

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posted in Data, Information, Security