In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a Roth IRA. The second provision allows student loan payments made by employees to qualify for employer retirement matching contributions. The overall goal is to help young adults start saving for retirement.
The SECURE 2.0 Act, passed as part of an omnibus spending bill in December 2022, added new exceptions to the 10% federal income tax penalty for early withdrawals from tax-advantaged retirement accounts.
We’re pleased to announce the appointment of Chris Datu, a registered financial advisor with SESLOC’s broker/dealer CUSO Financial Services, L.P.* (CFS), to SESLOC’s Wealth Management program.
SECURE 2.0 includes significant changes to the rules that apply to required minimum distributions from IRAs and employer retirement plans. Here’s what you need to know.
Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, are starting a family, are enjoying your peak earning years, or are preparing to retire, your employer-sponsored retirement plan can play a key role in your financial strategies. How should you view and manage your retirement savings plan through various life stages? Following are some points to consider.
Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it’s your money at stake.
Though there’s no foolproof way to handle the ups and downs of the stock market, the following common sense tips can help.
Here are some tips to help keep your family safe in an emergency and allow you to leave quickly with the items you need most.
With approximately 94% of American workers covered by Social Security and 65 million people currently receiving benefits, keeping Social Security healthy is a major concern.1 Social Security isn’t in danger of going broke — it’s financed primarily through payroll taxes — but its financial health is declining, and benefits may eventually be reduced unless Congress acts.
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It’s useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are 11 ways to help keep yourself from making hasty decisions that could have a long-term impact on your ability to achieve your financial goals.
According to the Internal Revenue Service (IRS), tax scams tend to increase during tax season and/or times of crisis.¹ Now that tax season is in full swing, the IRS is reminding taxpayers to use caution and avoid becoming the victim of a fraudulent tax scheme. Here are some of the most common tax scams to watch out for.
SESLOC’s 2024 Shred Day events break nine years of records by serving 746 visitors and shredding nearly 42,000 pounds of paper! Thanks to our members who attended the events at our San Luis Obispo, Atascadero, Arroyo Grande, Paso Robles and Santa Maria branches, plus our new Lompoc event location. In total, we recycled 133 total bins with about 21 tons of shredded paper— saving 357 trees, 147,000 gallons of water, 63 cubic yards of landfill space, and 84,000 kilowatts of electricity!
On Friday, October 11, SESLOC returned to Pacific Beach High School in San Luis Obispo for a second year to engage 55 students in the Bite of Reality simulation. This hands-on event immerses students in a realistic budgeting app, providing them with valuable insights into managing finances. Through interactive scenarios, participants learn to navigate the distinction between needs and wants, equipping them with essential budgeting skills for real life.
We’re partnering with News Channel 12 to honor nonprofit volunteers who make our community thrive. Each month, we’re choosing a different nonprofit and asking them to select a valuable volunteer to receive the SESLOC Cares for Community Award. We’re thrilled to introduce Len Hoskins, from the DANA Adobe.
October is National Cybersecurity Awareness Month, and we’re offering tips, webinars, and services to help make the internet safer and more secure.
We’re partnering with News Channel 12 to honor nonprofit volunteers who make our community thrive. Each month, we’re choosing a different nonprofit and asking them to select a valuable volunteer to receive the SESLOC Cares for Community Award. We’re thrilled to introduce David Cook, from Community Partners in Caring.
The workers are sooo nice and friendly!!"
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