Tag: guaranteed income

Near-Retirees Need Help Maximizing Retirement Income Sources

Near-Retirees Need Help Maximizing Retirement Income Sources

The findings of a new survey suggest that plan sponsors and professionals should be proactive in providing education and advice, as most near-retirees indicate they are looking for help to maximize retirement benefits while minimizing taxes.

According to Allspring Global Investments’ 20th annual retirement survey , guaranteed income, savings targets, tax management, and the complexity of Social Security and Medicare benefits are among the areas about which near-retirees could use some guidance.

“As fewer participants retire with employer-sponsored defined benefit plans, concerns of the newly retired are more evident with each passing year,” explains Nate Miles, Head of Retirement at Allspring. […]

4th stimulus check update 2023 — New payments between $200 and $1,050 due to arrive this month – see if you qualify

4th stimulus check update 2023 — New payments between $200 and $1,050 due to arrive this month – see if you qualify

Close MILLIONS of Americans are receiving relief payments between $200 and $1,050.

More than 20million California residents have been receiving the money over the last few months, and when the money is issued depends on the recipient’s last name.

Married Californians who earn $150,000 or less and have dependents will get the maximum amount , which is $1,050.Single Californians that earn less than $250,000 and couples with a combined income that is less than $500,000 should also see some relief.Franchise Tax Board (FTB) officials expected that most payments would be issued by the end of last year.However, payments are still arriving […]

Some guaranteed income programs are ending, even as they gain popularity nationwide

Some guaranteed income programs are ending, even as they gain popularity nationwide

In the wake of the economic crisis driven by the COVID-19 pandemic, cities explored universal basic income programs to help those affected financially.

Guaranteed income was a lifesaver for one single Atlanta mother.

When the city of Atlanta launched the Income Mobility Program for Atlanta Community Transformation (IMPACT) last January, this Black 29-year-old mother of two, who requested anonymity, says she applied for the program the moment she heard about it.“Every day was a struggle,” said the young woman who earns about $18,000 a year working at a department store. “I have two kids. I work as much as I can, […]

San Francisco Launches Guaranteed Income for Transgender People Program

San Francisco has launched a pilot program that guarantees income for transgender residents.

The Guaranteed Income for Transgender People (GIFT) will provide 55 residents with $1,200 a month for 18 months, including healthcare and financial coaching.

Applications closed in December. Residents will be selected by organizations helping to administer and shape the program, according to the Los Angeles Times.“By giving low-income trans people the resources to cover the expenses they deem most immediate and important given each person’s unique situation, we are implementing a truly community-centered intervention to combat poverty,” Aria Sa’id told the LA Times. Sa’id is the president of […]

Tacoma gave families $500 a month for a year. Could something similar happen across the state?

Tacoma gave families $500 a month for a year. Could something similar happen across the state?

A Nov. 6, 2012, photo of Downtown Tacoma taken from the McKinley neighborhood. State lawmakers, led by Democrat Rep. Liz Berry, held their first public hearing on a bill that would provide two years of unrestricted monthly payments for up to 7,500 Washington residents who meet specific criteria.

Dubbed the Evergreen Basic Income Pilot Program, the payments would range from about $900 – $2,100 per month depending on where a participating resident lives. That range reflects the fair market rent for a 2-bedroom apartment in counties across Washington.

Part of being eligible for the proposed program includes having an income that […]

Four questions to ask before buying an annuity

Four questions to ask before buying an annuity

With rates soaring to 14-year highs, the annuity revival is in full swing. But there’s lots to consider before trading your retirement savings for a lifelong income

Find out the latest on buying an annuity below When Celine Dion sang 90s ballad, Think Twice, we can safely assume the Canadian popstar wasn’t referring to the retirement income market. But proceeding with caution is sound advice for anyone thinking about buying an annuity .

In case it’s escaped your attention, annuities, where you exchange some or all your pension pot for a guaranteed income for life, are mounting a […]

San Francisco Launches Guaranteed Income for Transgender People Program

San Francisco Launches Guaranteed Income for Transgender People Program

By Susan Payne

San Francisco has launched a pilot program that guarantees income for transgender residents.

The Guaranteed Income for Transgender People (GIFT) will provide 55 residents with $1,200 a month for 18 months, including healthcare and financial coaching.Applications closed in December. Residents will be selected by organizations helping to administer and shape the program, according to the Los Angeles Times.“By giving low-income trans people the resources to cover the expenses they deem most immediate and important given each person’s unique situation, we are implementing a truly community-centered intervention to combat poverty,” Aria Sa’id told the LA Times. Sa’id is […]

San Mateo County Supervisors approve increase in waste collection rates

San Mateo County Supervisors approve increase in waste collection rates

The rates will go by as much up as 4% SMC Board of Supervisorscourtesy SMC The San Mateo County Board of Supervisors voted unanimously on Tuesday to raise waste collection rates in unincorporated areas of the county for some customers by as much as 4%.

Collection rates in most areas served by the South Bayside Waste Management Authority, also known as RethinkWaste, will go up by 4%, while residents in North Fair Oaks will see a 2 percent increase for certain garbage and recycling carts.

Lillian Clark, program manager for the county’s Office of Sustainability, said the difference in the two […]

5 Key Topics Where Near-Retirees Want More Guidance

5 Key Topics Where Near-Retirees Want More Guidance

Image credit: © Kianlin | Dreamstime.com Social Security claiming strategies, taxation, guaranteed income, savings targets and Medicare benefits are among the key topics where retirement plan participants are looking for guidance and education from advisors and plan sponsors, according to a new survey from Allspring Global Investments.

All of these themes are examined in Allspring’s annual retirement survey conducted by Escalent, released today. “We’re seeing growing interest in better management of taxes and optimization of Social Security-claiming strategies.” As the survey celebrates its 20th year, Allspring again spoke directly with retirees and near-retirees, giving plan sponsors and advisors a clearer […]

Near-Retirees Need Help Maximizing Retirement Income Sources

Near-Retirees Need Help Maximizing Retirement Income Sources

Retirement Income

The findings of a new survey suggest that plan sponsors and advisors should be proactive in providing education and advice, as most near-retirees indicate they are looking for help to maximize retirement benefits while minimizing taxes. According to Allspring Global Investments’ 20 th annual retirement survey , the topics of guaranteed income, savings targets, tax management and the complexity of Social Security and Medicare benefits are among the areas about which near-retirees could use some guidance. In fact, the survey found that 53% of near-retirees plan to use an advisor to maximize retirement income sources, but 39% of […]