Application of WEP

I have an interesting Social Security situation. The wife (who is currently 64) has a $1,000 monthly income from her government pension, she is subject to the WEP. Can the wife start taking her own PIA now (net of WEP), and later switch to taking 50% of her husband’s when she reaches 66? Since she is subject to the WEP adjustment, can she still take the greater of 100% of her own PIA or 50% of her husband’s?

Retirement Assets Total $24.7 Trillion in Fourth Quarter 2014

According to Investment Company Institute, Total U.S. retirement assets were $24.7 trillion as of December 31, 2014, up 1.7 percent from $24.2 trillion on September 30, 2014, and up 6.0 percent from year-end 2013. Retirement assets accounted for 36 percent of all household financial assets in the United States at the end of the fourth quarter of 2014. Out of the total $24.7 Trillion, about $14 Trillion is in Defined Contribution (401k, 403b, ….) and IRA assets.

Is this a big number? Heck, yes.

How about when you divide it by a couple of hundred million?

Financial Times / Merrill, Raymond James Turn to Health-Planning Apps

On March 12, 2015, Financial Advisor IQ, a service of Financial Times published an article on the importance of retiree healthcare expense planning. In this article, author Murray Coleman also interviewed an advisor who uses OMYEN’s Retiree Healthcare Planner™. Read the article at

OMYEN Makes Its Retiree Healthcare Planner™ Free to Financial Advisers

Financial advisers can easily estimate their clients’ overall healthcare expenses for Free and offer effective retirement income solutions.

Financial planning technology leader OMYEN Corp. is making its recently upgraded Retiree Healthcare Planner™ software FREE for all financial advisers. Financial advisers use this software to estimate clients’ lifetime healthcare expenses based on location and high-level input on lifestyle, health history, and preferences on type of healthcare. This will help advisers tackle the single largest retirement expense item for most clients…
Read the full press release at

Stop guesstimating, or worse, ignoring, your clients’ health care costs in retirement

In this article, Mary Beth Franklin of InvestmentNews underscores the importance of planning for health care expenses for clients and how a tool e.g. OMYEN’s Retiree Healthcare Planner™ can help advisers produce valuable retirement income plans. Read the story  below.