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White Papers by Madison Pension Services, Inc.

  • THE CLOCK IS TICKING...

    Most of the deadlines for various forms of relief provided by the Coronavirus, Aid, Relief and Economic Security (CARES) Act have passed. But not all. However, as we wait for this awful year to finally be over, there are deadlines looming wuth regards to utilizing these special provisions for...
  • WHERE'S MY DEDUCTION?

    In the timeless children’s book Are You My Mother?, a baby bird goes in search of his mother. When a mother bird’s egg starts to jump, she hurries off to make sure she has something for her little one to eat. But as soon as she’s gone, out pops the baby bird. He immediately sets off to find his...
  • RETIREMENT – IS IT POSSIBLE IN A POST-COVID WORLD?

    Tens of millions of Americans are out of work while the stock market’s wild swings are making you dizzy, and you wonder… what are the rules of retirement in this new world we now live in? Has there really been a shift in the tried and true rules to a secure retirement? The answers are yes and...
  • DERAILED RETIREMENT STORIES – BAD PLANNING, BAD LUCK OR BOTH?

    Every day, 10,000 Americans turn 65. Life spans are lengthening and the contingent medical bills that inevitably accompany old age rise as well. Half of American families in the 56 – 61 age bracket had less than $21,000 in retirement savings (based on a study by the Economic Policy Institute)....
  • When Does One-Year Equal Nine Months (Or Less)?

    We know that the CARES Act doubled retirement plan loan limits for qualified individuals eligible for a Corona-Virus Related Distribution (CRD) to be the lesser of $100,000 or 100 percent of the participant's vested account balance. To qualify, the loan must be made within 180 days after the...
  • UPDATE ON CORONA VIRUS RETIREMENT RELATED LEGISLATION

    I thought that the most important thing that I could do with this month’s newsletter is to provide you with an update of any retirement related legislation as it moves through Congress. Though negotiations are not over, on March 22nd Senate Majority Leader Mitch McConnell (R-KY) released...
  • THIS FIDUCIARY BREACH LAWSUIT HAS SOMETHING FOR EVERYONE – INCLUDING JEFFREY EPSTEIN

    This lawsuit has something for everyone: a respected and revered institution (MIT), one of the leading providers of services to the retirement plan industry (Fidelity) and a prominent law firm in the field of fiduciary litigation (the firm of Schlichter Bogard & Denton LLP). Even Jeffrey...
  • IT’S NOT EASY TO STEAL MONEY FROM A RETIREMENT PLAN – BUT IT DOES HAPPEN

    Two unrelated occurrences illustrate that while it is difficult to steal money from a retirement plan, it is certainly not impossible.
  • The Threat of Zombies is Real!

    Consumer-debt that is years or even decades old is known as “zombie” debt in the debt buying industry and represents a growing cause of concern for consumers. Just like real life zombies (that is probably an oxymoron) these “almost dead” consumer debts can see new life many years after they...
  • MILLENNIALS ARE NOT SAVING FOR RETIREMENT BECAUSE… THE SKY IS FALLING?

    Well OK. Chicken Little notwithstanding, the sky is not actually falling. But for millennials, it might as well be. The barrage of depressing news coupled with the fact that the impact of climate change seems to be accelerating leaves many of them to be pessimistic about the future. 88% of...
  • HOW TO STOP WASTING MONEY & SAVE MORE (OR START SAVING) FOR RETIREMENT

    Everyone would save more for retirement if they only had more disposable income. The Wall Street Journal recently sat down with a group of financial experts, one of whom is a Nobel prize-winning economist. Want to hear their take on why Americans have so little savings and struggle to save...
  • SOCIAL SECURITY – IS SOCIAL SECURITY GOING BROKE AND IS IT THE MOST VALUABLE RETIREMENT BENEFIT THAT

    “Social Security is going broke.” So said John Stossel in a piece that he did for Fox News in August of 2018. Other financial gurus and economists have weighed in with similar opinions. But is it really going broke? Is Social Security going bankrupt or merely headed for insolvency? And is...
  • Inflation & Retirement - At a 3% Rate of Inflation, Will I be ok or is my nest egg being eroded?

    For those at or near retirement, the topic of inflation is certainly a cause for concern. A study several years ago by the Society of Actuaries revealed that 71% of folks approaching retirement were “very or somewhat concerned about inflation risk.” Many baby boomers are now or will shortly...
  • BABY BOOMERS IN STUDENT DEBT?

    Seniors with student debt? Surely that is some sort of a mistake. No, it’s not. A recent article in the Wall Street Journal (WSJ) shined a light on a little known and growing problem. Seniors that have taken on student debt. Some took out loans to help pay for their children’s college tuition...
  • The Notorious ESG

    Environmental, social and governance investing – better known as ESG to those in the know (by the way, I was one of those not in the know) is a hotly debated topic in the 401(k) world. Research from Cerulli Associates, which specializes in worldwide asset management and distribution analytics,...
  • AMERICANS STILL HAVE HIGH HOPES OF RETIRING EARLY & RETIREES UNDERSTANDING OF TAXES IN RETIREMENT

    Findings from MassMutual’s 2018 “State of the American Family” illustrates that on average, respondents expect to retire at age 62, as opposed to age 64 when the study was last conducted five years ago in 2013. Surprisingly, 40% of the respondents from the study intend to retire before age 60,...
  • 401(k) PLANS, STUDENT LOANS & THE PRIVATE LETTER RULING AND

    For many Millennials saving for retirement has become a binary choice. Either they choose to pay down their student debt or they choose to save for retirement. Either one or the other. As many Millennials are in the earliest years of their working careers, difficult choices about how to allocate...