Archive - June 13, 2011

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5 Characteristics of a Great 401(k) Plan
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How Social Security Survivor Benefits Work

5 Characteristics of a Great 401(k) Plan

If you had a choice, wouldn’t you want a GREAT 401(k) rather than just a just good one? As background, the 401(k) rules from the DOL and IRS are complex. Employers are busy running their companies and have little expertise running a plan. Employees are poorly prepared to know how much to contribute or how to invest their money. Because of these three facts, the financial services industry, insurance companies and broker dealers have made a killing at the expense of American workers. As a result most 401(k) plans can be dramatically improved to the level of a “great” plan.… Read More

How Social Security Survivor Benefits Work

Social Security Survivor Benefits are much different from Spousal Benefits in several ways.  In fact, there’s very little to compare between the two.  Here are the primary things that you need to know about Survivor Benefits:

  • Survivor Benefits can be claimed as early as age 60.  Of course, as with all early claims for benefits, the amount will be reduced if you claim earlier than Full Retirement Age (FRA). At age 60 your Survivor Benefit would be reduced to 71.5% of your late spouse’s benefit amount (or PIA if he or she wasn’t at FRA).
  • Survivor Benefits are based upon
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