The recent passing of the Bipartisan Budget Act of 2015 ushered in sweeping changes to Social Security. Specifically, the legislation brings to an end some of the benefit-claiming strategies that have been foundational parts of many Americans’ retirement income planning.
The Bipartisan Budget Act of 2015, signed into law on November 2nd, contains provisions that affect certain social security claiming strategies in an effort to close inadvertent loopholes and prevent individuals from obtaining larger benefits than Congress intended. Anyone that has achieved or will achieve age 66 by May 1, 2016 who intends to suspend their social security benefit should pay close attention to these changes as they could require immediate action.
Bundled or Unbundled? What’s the difference and why should you care?
Budget, flexibility and needs (size of your plan’s assets) are major factors when choosing the proper 401(k) retirement plan provider for your business. Deciding to use a bundled or unbundled approach depends on what you need. At one time, one or the other could have been a better option, but things change. LGT would like to walk you through the misconceptions and benefits of bundled versus unbundled 401(k) plans.