A Word from the CEO
With the pandemic at least temporarily in retreat, I'm looking forward to celebrating Thanksgiving and Hanukkah with my family and friends this year. May the warmth of the season fill you and your family with thanks, joy, light and love.
A recent Supreme Court decision may give reason for thanks to those with federal student loans. The Court extended the Federal Student Loan Forgiveness Program to employees of religious organizations. This means that those working at least 10 years for not-for-profit institutions, including religious organizations, may be eligible to have their federal student loan balances forgiven. Our summary of the program can help you determine if you qualify.
This month the IRS announced increased contribution limits for retirement plans such as the JRB's. With these higher limits in mind, it's a good time to review your current savings rate — and to consider increasing the amount you save for retirement in 2022. It's a great way to reduce taxes while building financial security.
After last year's hiatus, the Required Minimum Distribution (RMD) is back for 2021. If you are 72 or older, you may need to take an RMD from your JRB retirement account by the end of the year if you haven't already done so. Find the information you need in our RMD article. If we do not hear from you by December 1, 2021 we will automatically process your JRB RMD.
Finally, many people ask me about Medicare. They want to know when to enroll and what option to choose. These are complicated questions. For a brief introduction to Medicare, watch the video (see link below) produced by our financial consultant CAPTRUST.
Happy Thanksgiving and Hag Hanukkah Sameah,
