The SECURE Act Eliminates the ‘Stretch IRA’ – Here’s What to Do

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) eliminates the stretch IRA for most non-spouse beneficiaries, beginning with deaths in 2020.That means many taxpayers should look at revising their estate plans. Here's why. New IRA rulesPrior to the SECURE Act, which was a tax measure signed into law in December 2019, the law allowed heirs to "stretch" IRA distributions over their entire life expectancy. This means you could theoretically leave a large IRA to a grandchild, for example, and the distributions could be spread out over decades. This provided a significant tax deferral benefit for younger…

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Protect Your Boat with Insurance, Winterization

Now that summer's over and the weather is cooling down, if you own a boatyou have likely pulled your vessel out of the water and parked her at home orsome other dry dock.While it's sad to think that you won't be back on your boat until next year,you also need to ensure that you keep her primed and protected by properlypreparing for fall and winter. We are offering up the following tips, but remember to also read yourowner's manual for the manufacturer's recommendations for keeping your boatprotected during the colder months: The engine Follow the manufacturer's instructions when winterizing the engine, but…

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More Firms Urge Workers to Get Seasonal Flu Shots

As the Centers for Disease Control and other health authorities have recommended that everyone get a flu shot this year due to the COVID-19 pandemic, many employers are wondering if they can require seasonal flu vaccinations for their staff. The CDC and the medical community recommend it in order to minimize the chances of double-infection of both the seasonal flu and COVID-19. The Equal Employment Opportunity Commission more than a decade ago issued guidance asserting that employers can require their workers to get influenza shots. But, employment law specialists recommend that the need for vaccinations be job-related (think nurses, doctors…

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Trick-or-Treating During the Pandemic

With Halloween approaching during the COVID-19 pandemic, many people with children who don't want to miss out on trick-or-treating likely have mixed feelings about it. Trick-or-treating will be more difficult, but it is possible if you have safety top of mind for both the kids who are trick or treating and the adults who are handing out candy to the little goblins and princesses. Before you do anything though, you will need to check with the rules and regulations in your city, county, neighborhood as well as state, as they may have imposed emergency restrictions. Here are some tips from…

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Telecommuting Workers Have Poor Ergonomics: Study

Most companies are serious about workplace safety and that goes even for office workers, whom they provide with proper chairs and ergonomically appropriate workstations. But with so many people suddenly having been thrust into working from home, workers have converted guest bedrooms, kitchen tables and living rooms into workspaces and ergonomics has mostly gone out the window in the process. Most telecommuters are working at makeshift spots in their homes, often on laptops in positions that are far from ergonomically correct. Additionally, few employers have actually gone to their workers' homes to check on their setups to make sure they…

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The Lesser Known Features of Long-Term Care Insurance

Buyers of long-term care insurance often focus on just the coverage basics, such as the level of daily benefits, length of coverage and under what conditions the policy will pay a claim. While these basics form the chassis of the policy, long-term care policies offer a host of other options that may prove beneficial to the policyholder.  Let's take a look at some of these available options: Survivorship premium waiver - If both spouses obtain long-term care policies from one insurer, some policies will provide a waiver of all remaining premiums if one spouse dies within a certain number of years…

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Medicare’s Annual Enrollment

As Medicare Open Enrollment Nears, Here Are the Changes Medicare's Annual Enrollment Period begins Oct. 15. and runs through Dec. 7. This is the time to reassess your Medicare plans.  As you get started, you should ask yourself: Am I satisfied with my current plan? Am I comfortable maintaining it for another year? Are the medications I need in my plan's formulary next year?   How much can I expect to pay for my medications next year? If you are a current Medicare recipient, you should have receive your Annual Notice of Change from your Advantage plan or pharmaceutical plan…

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Seven Tips: Preparing Your Home for Autumn

As the temperature starts dropping and harsher weather looms in the coming months, now is the time to get your home ready. Taking steps now to protect your home and belongings can help you enter the new season worry-free, and you might save money in the process. You can follow these tips to do just that: Clean your furnace and switch out filters Check your furnace for soot, ignition problems, pilot-light health and the state of other components to make your home ready for fall. You should also clean up dust and dirt and if you see anything that could…

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