Investment planning is about discipline and patience, but it doesn’t have to be difficult. Consider these insights from our experts so you can make informed decisions.
In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a Roth IRA. The second provision allows student loan payments made by employees to qualify for employer retirement matching contributions. The overall goal is to help young adults start saving for retirement.
Here is a brief look at some of the tax perks, rule changes, and incentives included in the legislation.
The SECURE 2.0 Act, passed as part of an omnibus spending bill in December 2022, added new exceptions to the 10% federal income tax penalty for early withdrawals from tax-advantaged retirement accounts.
On January 19, 2023, the outstanding debt of the U.S. government reached its statutory limit, commonly called the debt ceiling. The current limit was set by Congress at about $31.4 trillion in December 2021. On the day the limit was reached, Treasury Secretary Janet Yellen instituted well-established “extraordinary measures” to allow necessary borrowing for a limited period of time.
SECURE 2.0 includes significant changes to the rules that apply to required minimum distributions from IRAs and employer retirement plans. Here’s what you need to know.
Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, are starting a family, are enjoying your peak earning years, or are preparing to retire, your employer-sponsored retirement plan can play a key role in your financial strategies. How should you view and manage your retirement savings plan through various life stages? Following are some points to consider.
Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, are starting a family, are enjoying your peak earning years, or are preparing to retire, your employer-sponsored retirement plan can play a key role in your financial strategies. How should you view and manage your retirement savings plan through various life stages? Following are some points to consider.
Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it’s your money at stake.
Though there’s no foolproof way to handle the ups and downs of the stock market, the following common sense tips can help.
Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it’s your money at stake.
Though there’s no foolproof way to handle the ups and downs of the stock market, the following common sense tips can help.
Here are some tips to help keep your family safe in an emergency and allow you to leave quickly with the items you need most.
We’re partnering with News Channel 12 to honor nonprofit volunteers who make our community thrive. Each month, we’re choosing a different nonprofit and asking them to select a valuable volunteer to receive the SESLOC Cares for Community Award. In April, we...
SESLOC employees saved 6.1 tons of carbon dioxide from entering our local air during the first quarter of 2023 by using alternative commute methods like riding a bike, taking the bus or carpooling, and telecommuting. Reducing our carbon footprint is an important part...
We donated $40,000 to 80 local nonprofits in celebration of our 80th anniversary in 2022. Throughout the year-long celebration, our amazing staff nominated their favorite organizations to receive a $500 donation — a nod to the amount the credit union was founded with in 1942.
We’re pleased to announce the appointment of Chris Datu, a registered financial advisor with SESLOC’s broker/dealer CUSO Financial Services, L.P.* (CFS), to SESLOC’s Wealth Management program.
We want to share with you how SESLOC and other credit unions stand out as a reliable and secure option for consumers and small businesses in our local communities.
