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401(k)
Trends
- 1Starbucks to Close 250 Stores as Retirees Weigh 401(k) Loan Tax Traps●Starbucks Will Close 250 Stores. His $20,000 401(k) Loan Won’t Count Against Social Security’s Earnings Test, but It Could Make More of His Benefit Taxable
Starbucks says it will close 250 stores in its latest round of restructuring. At the same time, financial columnists are examining whether a $20,000 401(k) loan affects Social Security: the loan itself does not count against the earnings test, but the repayments and reduced withholding could push more of a retiree's benefits into taxable income. Commenters are debating how store closures and retirement income decisions interact for older workers.
- 2Trump Administration Seeks To Weaken 401(K) Protection●Trump Administration Looks To Soften Vital 401(K) Protection
The Trump administration is reportedly looking to soften a vital protection for 401(k) retirement accounts, according to a Forbes report. The move touches a plan feature safeguarding millions of American workers' retirement savings, and it has drawn attention from personal finance commentators concerned about what weaker protections could mean for ordinary savers.