A Word from the CEO

All of us at the JRB hope that you and your family were inscribed in the Book of Life for the New Year. We also commemorate the sad anniversary of October 7, pray that the hostages are released soon, hope that the suffering ends and that we can celebrate Shalom.

Most of our working lives we save for retirement. We develop a comfortable pattern. We make our payroll contributions. We receive quarterly statements that allow us to track our progress. Annually, in most cases, we speak to the payroll administrator about increasing the amount we contribute. Every few years we schedule a Complimentary Financial Consultation with the JRB to make sure we're on course for a financially secure retirement.

When we retire, the process goes into reverse. We are taking withdrawals (distributions) from our savings so we can do the things we want over a long retirement. This month's article discusses taking distributions — your options, tax implications, parsonage allowance for clergy and Required Minimum Distributions.

The Social Security Administration announced a 2.5% cost of living adjustment (COLA) for 2025. Reflecting the reduction in inflation, this year's increase is smaller than last year's 3.2% COLA. Read the article for updates on the maximum salary subject to Social Security and the earnings limit for those collecting Social Security prior to full retirement age.

This issue also announces changes to the Board of Trustees. After 27 years of service, Hazzan Abraham Lubin retired. The Cantors Assembly appointed Hazzan Rabbi Luis U. Cattan as his successor.

Finally, the JRB reminds all participants to protect their online security. We refer you to best practices articulated by the Employee Benefits Security Administration of the U.S. Department of Labor.

If you have questions about taking distributions or your overall financial goals, please contact us via email or call us at 888-JRB-FREE (572-3733).

Hag Sameah and Am Yisrael Hai,