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A required minimum distribution, or RMD, is the minimum amount one must withdraw from an IRA or retirement account each year. RMDs typically kick in after the owner of the account turns 70.5, and if your company offers any sort of employer-sponsored retirement plan (including profit-sharing plans, 401(k) plans, 403(b) plans and 457(b) plans) you could face serious consequences if your 70.5 and up workers fail to meet the RMD requirements.

Consider the following employer RMD responsibilities as well as the steps you should take to protect your invested workers and your plan, from alerting participants who are approaching RMD age to activating the fund withdrawal.

American author John Steinbeck once wrote, “A sad soul can kill you quicker than a germ.” While certainly a poetic statement, and even somewhat true, those pesky germs—found
everywhere and on everything—can still make you sick. Fortunately, washing your hands is one of the best defenses against the infections and illnesses they induce. According to the Centers for Disease Control and Prevention (CDC), handwashing can reduce respiratory illnesses—such as the common cold—in the general population by 21 percent. Other U.S. public health authorities have stated that bad hand hygiene cause nearly 50 percent of food-borne illness outbreaks.

For many people, a home is their biggest investment—and the mortgage that accompanies it their largest financial commitment. However, it may not be one they should eliminate—at least according to the experts. When the gurus wax poetic about eliminating debts, they are generally speaking of high-interest obligations such as credit cards with APRs around 13 percent, not 30-year mortgages with interest closer to 4 percent.

If the primary breadwinner in your family were to pass away, how many years of lost income would your life insurance policy replace? According to a recent Life Insurance Gap survey by New York Life, most families want their policies to cover that lost income for 14 years. Unfortunately, the policies they have in place tend to cover a lot less—and the shortfall puts them at great financial risk.

The gap survey examined the difference between how much life insurance coverage families had in place and how much they wanted that insurance to cover should death strike. The median difference was $320,000, a significant increase from $289,000 five years prior. The median amount of life insurance coverage the surveyed families had was $220,000. The median amount they needed was $540,000.


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