A majority of middle-income baby boomers and retirees have significant gaps in their understanding of how federal taxes will impact their retirement finances, according to a new study by the Bankers Life Center for a Secure Retirement.
More Americans know how lottery winnings are taxed than how Social Security, IRAs, Roth IRAs and 401(k)s are taxed, the study found.
The "Retirement Tax Considerations for Middle-Income Americans" study focused on 1,000 Americans over the age of 50 with an annual household income between $25,000 and $75,000.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.