Women's Institute For A Secure Retirement

Caregiver Today, Retirement - Ever?

When planning for the future, one issue that may not immediately come to mind is the financial impact of caregiving. Many women expect to care for someone at some point in their lives if they haven't already. But far fewer have planned for that time. This newsletter will help you think through those issues and provide you with steps you can take now to protect yourself financially.

Also, this issue covers some important Social Security topics. It is important to understand how this system works so that you can avoid making costly mistakes that can impact your retirement income for life. 

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The U.S. Department of Labor issued an Advisory Opinion that will pave the way in making auto portability a reality. Auto portability provides seamless portability for retirement plan participants when they change jobs. Each year, 14.8 million plan participants will change jobs and 31% of those workers will cash out their retirement savings completely within the first year after a job change.

This news is especially good for women who often hold smaller account balances. Learn more about auto portability and the Advisory Opinion and check out this infographic which highlights the importance of preserving small account balances.

Millions of working Americans are missing out on a valuable tax credit - The Saver's Credit. The Saver's Credit is available to low- to moderate- income workers who are saving for retirement, and it is effectively a federal match for retirement contributions. But only one in four workers potentially eligible to claim it are aware of it.

Learn more about the Saver's Credit.