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Retire On Purpose, With Purpose

 
When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
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College Cost Data for 2022-2023 School Year

Nov 30, 2022 1:53:52 PM
written by The Retirement Group

Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average cost figures based on a survey of approximately 4,000 colleges across the country.

Over the past 20 years, the average price for tuition, fees, and room and board has increased 46% at public colleges and 30% at private colleges over and above increases in the Consumer Price Index, straining the budget of many families and leading to widespread student debt.


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posted in Financial Planning, Retirement, College, 2023

Medicare Open Enrollment Is Here: How Are Costs Changing for 2023 and How Will it Effect Fortune 500 Employees?

Nov 3, 2022 1:44:36 PM
written by The Retirement Group

As a Fortune 500 employee or retiree, it is vital that you fully understand Medicare's Open Enrollment Period, and how you can best utilize it. Medicare's Open Enrollment Period — which runs from October 15 through December 7 — is your annual opportunity to switch your current Medicare health and prescription drug plans to ones that better suit your needs. Just in time for Open Enrollment, 2023 Medicare premiums, deductibles, and other costs have been announced, and surprisingly, some of these costs are lower than they were last year.

What to consider
We urge all Fortune 500 employees and retirees to start by reviewing any materials your plan has sent you. Look at the coverage offered, the costs, and the network of providers, which may be different than last year. Maybe your health has changed, or you anticipate needing medical care, or new or pricier prescription drugs. If your current plan doesn't meet your health-care needs or fit your budget, you can make changes. But if you're satisfied with what you currently have, you don't need to do anything. The coverage you have will continue.


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posted in Financial Planning, Medicare, 2023

Retirement Legislation Awaits Further Action

Oct 21, 2022 3:05:03 PM
written by The Retirement Group

Legislation that could benefit Fortune 500 employees and retirees with individual retirement accounts (IRAs) and retirement plans such as employees in Fortune 500 companies, is currently moving through Congress. The Securing a Strong Retirement Act of 2022 has passed almost unanimously in the House. A similar bill (with some differences), the Enhancing American Retirement Now Act, has been drafted in the Senate but will have to wait until Congress is back in session in November for further consideration. If the Senate passes its bill, the House and the Senate would need to reconcile the two bills, and then each would vote on the reconciled bill.

Some significant provisions in the proposed legislation that may aid in your Fortune 500 retirement planning are summarized below.


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posted in Financial Planning, Retirement, 2023, Legislation

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Information regarding the lump-sum payout may or may not apply to specific employees based on factors such as mergers, acquisitions, years of service, age, or the date an employee was hired.

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