Robert H Louis

September 22, 2015 | The Legal Intelligencer

One important characteristic of the generation currently approaching retirement that distinguishes it from earlier generations is the amount of discretionary wealth controlled. Earlier generations participated more broadly in defined benefit pension plans, which provide a monthly payment but do not put the funds producing the pension benefit under the retiree's control for investment purposes. The advent of 401(k) plans changed the retirement landscape to one in which retirement assets are in the form of accounts, as contrasted to a monthly payment.

By Robert H. Louis

4 minute read

June 23, 2015 | The Legal Intelligencer

Over the course of your working career, you have been saving for retirement. If you are able to participate in a qualified retirement plan, such as a 401(k) plan, you obtain the advantage of a current federal income tax deduction and the deferral of federal income taxation on any earnings on the contributions to the plan. ("Qualified" refers to the fact that the plan satisfies the requirements of the Internal Revenue Code to permit these tax benefits.) The value of these tax aspects of qualified retirement plans is demonstrated by recent proposals in Washington to limit the amount individuals may accumulate in such plans.

By Robert H. Louis

5 minute read

June 23, 2015 | The Legal Intelligencer

Over the course of your working career, you have been saving for retirement. If you are able to participate in a qualified retirement plan, such as a 401(k) plan, you obtain the advantage of a current federal income tax deduction and the deferral of federal income taxation on any earnings on the contributions to the plan. ("Qualified" refers to the fact that the plan satisfies the requirements of the Internal Revenue Code to permit these tax benefits.) The value of these tax aspects of qualified retirement plans is demonstrated by recent proposals in Washington to limit the amount individuals may accumulate in such plans.

By Robert H. Louis

5 minute read

April 28, 2015 | The Legal Intelligencer

There is no shortage of advice offered to those approaching and planning for retirement: how to invest, where to live, what insurance to buy. Despite this abundance of guidance, many people are not preparing in a way that will maximize their chances of a comfortable retirement. Here are five mistakes that should be avoided, and can be, with thoughtful planning.

By Robert H. Louis

5 minute read

April 27, 2015 | The Legal Intelligencer

There is no shortage of advice offered to those approaching and planning for retirement: how to invest, where to live, what insurance to buy. Despite this abundance of guidance, many people are not preparing in a way that will maximize their chances of a comfortable retirement. Here are five mistakes that should be avoided, and can be, with thoughtful planning.

By Robert H. Louis

5 minute read

October 28, 2014 | The Legal Intelligencer

Individual retirement accounts (IRAs) were added to the mix of retirement planning vehicles by the Employee Retirement Income Security Act of 1974. The idea implicit in this retirement-saving and tax-saving opportunity was that it permitted individuals to save for retirement without the necessity of their employer adopting a plan. The initial limit of a $2,000 annual deductible contribution has risen over time to $5,500. Those who have attained age 50 may make an additional "catchup" contribution of $1,000 per year, a provision added to encourage even more saving. To make IRA contributions, the individual must have at least that amount of compensation income for the year. An exception to that rule, the spousal IRA, permits a contribution to an IRA for a spouse even though the spouse has no separate income (as usual, if certain conditions are met).

By Robert H. Louis

7 minute read

July 22, 2014 | The Legal Intelligencer

Individual retirement accounts, universally known as IRAs, entered the world of retirement saving with the enactment of the Employee Retirement Income Security Act of 1974. The concept of an IRA was to permit people to save on their own for retirement, rather than relying solely on employer-sponsored retirement plans.

By Robert H. Louis

7 minute read

April 22, 2014 | The Legal Intelligencer

I recently acted as moderator of a program on retirement for partners at Saul Ewing, at which four partners on the cusp or approaching the cusp of retirement discussed how they decided it was time, or not yet time, to make definite plans for retirement. .

By Robert H. Louis

7 minute read

January 30, 2014 | New Jersey Law Journal

Larger law firms may wish to establish a transition plan as attorneys from the Baby Boom generation begin to enter retirement.

By Robert H. Louis

5 minute read

January 28, 2014 | The Legal Intelligencer

Yet another aspect of the population bulge that is called the baby boom generation is the effect of this generation beginning to enter retirement age. This effect is observed in many areas of society, and in law firms as well, where a large number of partners have reached an age when most people think about retiring.

By Robert H. Louis

5 minute read