New Update: Rising Oil Costs are Affecting Retirement Plans. Will you be impacted?
Charting the Course: How Jones Lang LaSalle Employees Can Navigate the New Senior Tax Deduction
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Crude oil prices remain elevated and volatile, with annualized volatility around 80% and prices ranging between $50 and $120 per barrel over the past six months. Operating costs for commercial properties and the macro channel of interest rates and cap rate compression create meaningful exposure to sustained oil price volatility. Tax planning at Jones Lang LaSalle benefits from understanding how energy-driven market movements create opportunities for timing capital gains, Roth conversions, and strategic loss harvesting. Working with a financial advisor helps ensure that energy market uncertainty does not undermine your long-term retirement and financial goals.
"Jones Lang LaSalle employees who leverage strategic income coordination and Roth conversion timing can fully benefit from the 2025 senior bonus deduction and increased standard deductions, though they should consult a tax advisor for individualized guidance." - Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement.
"By modeling various income scenarios, balancing part-time earnings with Roth conversions and RMD timing, Jones Lang LaSalle employees can optimize their benefit from the four-year senior bonus deduction window." - Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article we will discuss:
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The new four-year "senior bonus" deduction and increased standard deduction.
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Tax exclusions for part-time employment and strategic income coordination.
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Roth conversion timing and RMD considerations to optimize MAGI.
President Donald Trump's 2025 Tax Law
President Donald Trump signed a historic tax policy into law on July 4 that takes effect, providing taxpayers age 65 and older with a significant planning opportunity. Instead of fully exempting Social Security benefits from taxes, the law preserves existing rules while introducing a temporary, increased standard deduction to lower seniors' taxable income.
New Senior Bonus Deduction
Jones Lang LaSalle employees who qualify can claim a $6,000 "senior bonus" deduction for each eligible individual through the 2028 tax year, provided their modified adjusted gross income (MAGI) stays within specified limits.
Increased Income and Deduction Caps
Single filers with a MAGI up to $75,000 can claim the full $6,000 bonus deduction; the benefit phases out entirely once MAGI reaches $175,000. Married couples filing jointly may each deduct $6,000 if their combined MAGI is under $150,000, with the deduction phasing out by $250,000. 1 Wealth Enhancement financial advisor Tyson Mavar notes, "This is a meaningful opportunity." Every dollar of tax reduction directly strengthens retirement assets for those on fixed incomes.
Increases in Standard Deduction
Beginning, the basic standard deduction rises to $15,750 for single returns and $31,500 for joint returns, 2 in addition to any senior bonus deduction. Retirees age 65+ already receive age-based increases, $2,000 for single filers and $3,200 for married couples. As a result, a married couple under the income threshold could deduct up to $46,700 before any itemized deductions.
Exclusions from Taxes for Part-Time Employment
The legislation also provides sector-specific limits for hourly and tipped workers. Certain service roles may exclude up to $25,000 in tip income and $12,500 in overtime pay from taxable income. Retirees who continue part-time work in service or hospitality may find this particularly transformative, as Tyson Mavar suggests, since it allows additional earnings without jeopardizing deduction eligibility.
Considerations for Roth Conversion
While converting traditional IRA assets to a Roth IRA can yield long-term benefits, it increases taxable income in the conversion year. Jones Lang LaSalle retirees may inadvertently exceed MAGI limits, negating the $6,000 deduction. Patrick Ray, a financial advisor with Wealth Enhancement, suggests carefully structuring any Roth conversions to avoid exceeding limits, or potentially postponing the conversion until after the senior bonus phases out.
Required Minimum Distributions with Roth Accounts
RMDs from traditional IRAs begin at age 73 and fully count as taxable income, raising AGI. In contrast, Roth IRA withdrawals are tax-free and have no distribution mandate. Brent Wolf at Wealth Enhancement emphasizes that "the tax-free feature is crucial" for supporting flexible income planning through Roth accounts.
Management of Strategic Income
Coordinating revenue sources is essential to leverage this four-year window. Jones Lang LaSalle employees might ask, "Can we adjust withdrawals and earnings to keep MAGI below the cutoff and capture substantial tax reductions?" as Mavar frames it.
Next Actions
Jones Lang LaSalle retirees should forecast income streams, including earned income, Social Security, IRA distributions, pensions, and Roth conversion schedules, and model scenarios to identify optimal withdrawal ranges and part-time earnings. Engaging tax and wealth planning specialists helps confirm that plans are in place when the law takes effect.
The Bigger Picture
At a time when living costs may be rising, this four-year boost to the standard deduction offers a rare chance to lower tax bills. Over 2025-2028, disciplined planning, balancing MAGI against new thresholds, leveraging tip-income exclusions, and judicious Roth use, could yield tens of thousands in savings for those prepared to chart their course.
Personalized Guidance
Jones Lang LaSalle employees seeking tailored strategies should consult advisors at Wealth Enhancement today to craft a retirement plan optimized for the enhanced deduction and broader tax changes.
Managing Medicare Surcharges
The same MAGI limits for the senior bonus also apply to Medicare premium surcharges. For instance, a single filer whose MAGI exceeds $106,000 by just $1 may face IRMAA penalties that add over $1,000 to annual Part B and Part D premiums.
In Summary
Examine the 2025 tax law's retirement-planning options, including the $6,000 bonus deduction, higher standard deductions, MAGI thresholds, Roth timing, and tip-income exclusions, to optimize after-tax income through 2028.
Analogy
Navigating this new tax landscape is like steering a sailboat through a series of canal locks: you must time your income withdrawals and Roth conversions precisely to avoid rising water levels (MAGI phase-outs and Medicare surcharges), harness every current (the enhanced deductions and higher standard deduction) for forward motion, and explore side channels (tip-income and overtime exclusions) to gain extra distance. By keeping that careful course, Jones Lang LaSalle employees can sail smoothly through 2025-2028 with optimal savings.
As you plan your transition from Jones Lang LaSalle into retirement, understanding the company's benefit structure can help you make more informed decisions. According to publicly available information, Jones Lang LaSalle maintains an active defined benefit pension plan, which provides retirement income based on factors such as years of service and compensation history. Jones Lang LaSalle does not appear to offer a formal retiree healthcare program, making healthcare coverage planning an important consideration if you retire before age 65. Because the specifics of your pension formula, vesting schedule, and benefit eligibility depend on your individual employment history and plan documents, We encourage you to review your Summary Plan Description (SPD) or speak with Jones Lang LaSalle's HR or benefits team for the most current details.
Sources:1. Tax Foundation. " How Does the Additional Senior Deduction Compare to No Tax on Social Security? ," by Alex Durante, 4 July 2025.
2. Bipartisan Policy Center. " The 2025 Tax Bill: Additional $6,000 Deduction for Seniors, Simplified. " by Emerson Sprick, 12 June 2025.
3. CBS News. " Does the 'Big, Beautiful Bill' Eliminate Taxes on Social Security? " by Mary Cunningham, 9 July 2025.
What is the 401(k) plan offered by Jones Lang LaSalle?
The 401(k) plan at Jones Lang LaSalle is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.
Does Jones Lang LaSalle match employee contributions to the 401(k) plan?
Yes, Jones Lang LaSalle offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
How can employees at Jones Lang LaSalle enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan at Jones Lang LaSalle by accessing the benefits portal or contacting the HR department for assistance.
What types of investment options are available in the Jones Lang LaSalle 401(k) plan?
The Jones Lang LaSalle 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
When can employees at Jones Lang LaSalle start contributing to their 401(k) plan?
Employees at Jones Lang LaSalle can typically start contributing to their 401(k) plan after completing their initial eligibility period, which is outlined in the employee handbook.
Is there a vesting schedule for the employer match in the Jones Lang LaSalle 401(k) plan?
Yes, Jones Lang LaSalle has a vesting schedule for the employer match, which means employees must work for a certain period to fully own the matched contributions.
Can employees take loans against their 401(k) savings at Jones Lang LaSalle?
Yes, employees can take loans against their 401(k) savings at Jones Lang LaSalle, subject to specific terms and conditions outlined in the plan documents.
What happens to the 401(k) plan if an employee leaves Jones Lang LaSalle?
If an employee leaves Jones Lang LaSalle, they have several options for their 401(k) plan, including rolling it over to an IRA or a new employer's plan, or cashing it out.
How often can employees change their contribution rate to the Jones Lang LaSalle 401(k) plan?
Employees at Jones Lang LaSalle can change their contribution rate to the 401(k) plan at designated times throughout the year, as specified in the plan guidelines.
Are there any fees associated with the 401(k) plan at Jones Lang LaSalle?
Yes, there may be fees associated with the 401(k) plan at Jones Lang LaSalle, which are disclosed in the plan documents and can vary based on investment choices.
For more information you can reach the plan administrator for Jones Lang LaSalle at , ; or by calling them at .
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