Smart401k
Smart401k® Hires Impact Communications to Promote 401(k) Review Services: Firm Provides Cost-Effective Advice to Empower Consumers to Effectively Manage their 401(k)s
Overland Park, KS (PRWEB) April 30, 2009 – Scott Revare, CEO and co-
founder of Smart401k® (http://www.smart401k.com), today announced the hiring of Impact Communications to promote the firm’s advice services for employees who invest in employer-sponsored retirement plans.
“These are particularly challenging times for investors and while thousands of people are regularly contributing to their 401(k)-type plans, very few are engaged in actually managing the portfolio,” Revare says.
Smart401k® is a web-based investment advisor that is uniquely focused on providing personalized investment advice to individuals who have 401(k)s, 403(b)s and other employer-sponsored retirement plans. The company currently monitors more than 4,500 employer plans and advises individuals who collectively have more than $ 1 billion in plan assets. Its team of advisors takes pride in helping their clients manage and understand the importance of investing in their employer-sponsored retirement plan.
“We are on a mission to let consumers know that there is a simple, affordable solution to help them manage their accounts with confidence. We feel this is vitally important in today’s environment,” says President Scott Holsopple.
Consumers can subscribe to the service online by identifying their employer and providing details of their situation in a short questionnaire. Smart401k’s advisors then analyze the fund choices that are available through the plan and deliver a customized Action Plan, tailored to the client’s time horizon, risk tolerance and employer-specific fund choices. The Action Plan, updated quarterly, provides recommendations for which funds to invest in and how much to allocate to each fund. The service costs $ 200 per year or $ 59 per quarter and offers unlimited access to Smart401k’s advisors by phone, email and live chat.
In addition to serving consumers, Smart401k® provides fund selection and monitoring services to plan sponsors, recommending additional mutual funds and plan changes as necessary with the goal of helping the plan meet the requirements of its Investment Policy Statement.
About Smart401k®
Smart401k® was founded in 2003, by Scott Revare and Adam Bold (host of The Mutual Fund Show), with the goal of providing unbiased advice to help employees invest with confidence in their 401(k), 403(b) and other employer-sponsored plans. The direct-to-employee business surpassed the 10,000 customer level in October, 2008. Employers who are looking to strengthen an important employee benefit are also able to sponsor Smart401k’s advice service. The company also has relationships with several major 401(k) providers, 401(k) advisory firms and third party administrators/record keepers to offer Smart401k® services to their customers. For more information, visit http://www.smart401k.com.
About Impact Communications, Inc.
Founded by financial services industry veteran Marie Swift in 1993, Impact Communications specializes in developing effective client communications and marketing strategies for a select group of highly successful financial advisors and allied institutions. Widely respected as a marketing professional with a loyal following, Swift, along with her team, works with independent advisors and select institutions to increase both visibility and credibility within their niche markets. In addition to marketing strategy and media promotions, the firm offers clients graphic design services and executive coaching. For more information, visit http://www.impactcommunications.org.
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Categories: 401k Retirement Plan Tags: , 401k, 401ks, Advice, Communications, Consumer's, CostEffective, Effectively, Empower, Firm, hires, Impact, Manage, Promote, Provides, Review, Services, Their
Arizona State Retirement System: A review of the impact of HB 2028 : a report presented to Representative Burton Barr
Arizona State Retirement System: A review of the impact of HB 2028 : a report presented to Representative Burton Barr
Price:
Categories: Arizona State Retirement System Tags: 2028, Arizona, Barr, Burton, Impact, presented, Report, Representative, Retirement, Review, State, System
Allsup Examines Impact of Social Security Taxes on Disabled and their Families
Allsup Examines Impact of Social Security Taxes on Disabled and their Families
Belleville, Ill. (PRWEB) July 9, 2007
Another state has moved to reduce the tax burden on Americans with disabilities, but stopped short of totally abandoning the list of 15 states that still tax income from Social Security Disability Insurance.
Missouri Governor Matt Blunt signed into law last week legislation that raises the threshold for what disabled residents in that state get to keep in their own pockets. The result will be that over 200,000 disabled Missouri taxpayers and their dependents could benefit from the state’s decision to abolish taxes on most Social Security disability benefits, according to Allsup Inc., the country’s leading Social Security disability representation company.
“The tax landscape becomes increasingly complex for anyone with disabilities,” said Ron Buerges, executive vice president of Allsup Inc. “They are dealing with a number of life-altering issues and it’s important that they know when there is an opportunity to take advantage of financial breaks because they and their families are so often under significant financial pressures.”
Under the new Missouri law, disabled individuals of any age will no longer pay state income tax on their Social Security Disability Insurance (SSDI) benefits if their income does not exceed $ 85,000, or $ 100,000 for married couples. Under the previous law, the tax exemption was only for those whose income, minus one-half of the Social Security disability benefit, was below $ 25,000, or $ 32,000 for a married couple.
“When people become disabled, they face an uncertain financial future, and taxing their Social Security disability benefits simply adds to the financial hardship,” said Buerges. “Missouri lawmakers, like those in most other states, have recognized this and now are allowing disabled residents to keep more of the Social Security Disability Insurance benefit they deserve – and have paid for during their years as working taxpayers contributing to FICA taxes.”
In a state-by-state comparison of state tax treatments of Social Security disability income, Allsup notes Missouri is one of 15 states that tax Social Security Disability Insurance income. However, the number of states taxing Social Security disability benefits will dwindle further as Wisconsin exempts disability benefits from its state tax in 2008 and Iowa completes its phase out of taxing those benefits in 2014.
In Missouri, disabled residents will need to wait before realizing the full value of the exemption. The new law calls for a phased approach, with 20 percent of the benefit being exempt for 2007. This will increase to a 100 percent exemption by 2012 for those with income of less than $ 85,000, or less than $ 100,000 for married couples.
Those earning more will only be taxed on the amount of Social Security Disability Insurance benefits that exceeds these income thresholds. For example, a disabled person with income of $ 90,000 would pay taxes on $ 5,000 of his or her Social Security Disability Insurance income, and an individual earning $ 30,000 would not be required to pay taxes on any of the benefit.
Federal Tax Rules Add to Complexity
On the federal level, Social Security Disability Insurance income has added tax consequences. Up to 50 percent of it is generally subject to federal income tax. However, as much as 85 percent of a person’s disability income can be taxed if the total of one-half of the benefit and all other earned and investment income is more than $ 32,000 for a married couple filing jointly, or $ 25,000 for an individual or someone who is married filing separately but who lived with a spouse at any time during the year (IRS Bulletin 915).
According to Allsup, the average Social Security Disability Insurance payment is less than $ 1,000 per month. About 7 million disabled individuals now receive Social Security disability benefits, with that number increasing as baby boomers continue to age.
About Allsup
Allsup Inc. is the premier Social Security Disability Insurance representation company in the United States and has been serving individuals with disabilities nationwide since 1984. Today, the company has more than 425 professionals focused on helping individuals and their families gain the financial and health benefits they deserve. For more information visit Allsup’s Web site at http://www.allsup.com.
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Categories: Social Security Tags: Allsup, Disabled, Examines, Families, Impact, Security, Social, Taxes, Their
Impact of Medicare Physician Payment on Seniors
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You may be thinking that June gloom is an expression to describe the weather in otherwise sunny Southern California. However, in the not-so-sunny world of Medicare it might be used to describe how Medicare physicians are feeling since Congress has once again averted a 21% pay cut to physicians by implementing a six-month fix.
Even though the Senate finally passed a bill rescinding the 21% cut and adding a 2.2% increase for Medicare payments, the action came too late to stop the first reduced Medicare payments to doctors from the scheduled 21.3% cut that went into effect June 1. Plus now the bill has to go back to the House for final approval.
“What this does,” says Alan Weinstock, an insurance broker at www.MedicareSupplementPlans.com, “is put a temporary hold on physician payments.” In this case there was both a temporary hold, and then a reduced payment.
Physicians React to the Medicare Cut
While there has not been the threatened mass exodus of physicians opting out of Medicare, many are making some changes.
A May online survey of more than 9,000 physicians conducted by the American Medical Association (AMA) found that about 17% of all physicians who accept Medicare patients are restricting the number of Medicare beneficiaries they see. More than 30% of respondents who were identified as primary care physicians said they limit their Medicare patient load. For both sets of physicians, the top two reasons they cited were that Medicare rates were too low and that the constant threat of cuts made Medicare an unreliable payer.
Medicare Beneficiaries are Impacted by the Medicare Cut, Too
This ping-ponging between cutting and raising physician Medicare payments can make for uncertainty for seniors. The AMA likened it to playing Russian roulette with seniors’ health care.
In fact, a December 2007 Medicare Payment Advisory Commission reported that:
30% of Medicare patients indicated trouble in finding a new primary care physician;
25% indicated trouble getting timely appointments for preventive care and chronic conditions;
Nearly 20% indicated trouble getting timely appointments for illness or injury.
And this information is nearly three years old. “So, of course, the concern is that things aren’t getting any better for seniors,” notes Alan, “especially those who are just nearing the age of 65 and looking to sign up for Medicare for the first time.”
That is why it is important for those new to Medicare to begin the process early. There is a seven-month period in which to sign up for Medicare. It spans from three months before the month in which you turn 65 to three months after the month in which you turn 65.
And for current or soon-to-be Medicare patients who are looking for the best place to shop and compare Medicare supplement insurance plans, it is easy to get all the information they need just by visiting http://www.MedicareSupplementPlans.com.
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Victor Ben is a expert writer who has years of experience in writing article, technical reviews regarding Medicare Insurance, Medigap Insurance California and Best Medicare Supplemental Insurance Plans.
