Among the best stories from Retirement Daily for Jan. 6 - 10: What's new for Social Security in 2020, traveling and Medicare, and RMDs under the new retirement legislation.
What's new for Social Security in 2020? Each year, Robert Powell writes, those saving for and living in retirement should check up on their Social Security accounts and be aware of what changes are coming in the new year. This year, a set of scheduled annual changes are set to go into effect, following on the heels of the Securing Every Community for Retirement Enhancement (SECURE) Act that was passed by Congress and signed into law in late December.
For Social Security, "the year 2020 will see the same set of annual changes which are built into the program and automatically take effect in January of each year, just like clockwork," said Kurt Czarnowski, a principal with Czarnowski Consulting.
Read more about that new legislation in Powell's column, "New Retirement Law Makes Big Changes to How You Save: Long-awaited SECURE Act contains dozens of provisions affecting 401(k)s, annuities, IRAs and taxes"
In case you missed them, here are more great stories from Retirement Daily:
If you're a Medicare beneficiary and you're planning to travel abroad in the coming year, be sure to review Medicare coverage outside the U.S. before you go.
Question: I am 80 years old and own an IRA. Can I assume that I will continue under the SECURE Act to use the existing IRS lifetime tables for calculating required minimum distributions for 2020 and beyond?
Adviser Marcia Mantell explains why women often receive lower Social Security benefits than men and how to plan for that.
Just when you think there are no more deals to be had, Jeanette Pavini finds some great January buys worth going back to the store for.
Question: What happens to my email accounts when I die? If I don't leave the current password, will Gmail or AOL give my estate access to my email? What happens to my mileage account and various credit cards?
Here are some of the latest reports, surveys, and studies related to retirement, including research into managing longevity risk, tontines and mortgage borrowing.