Monday, October 14, 2013
Richard L. Kaplan (Professor, University of Illinois College of Law) has recently published an article entitled, Financial Planning for the Non-Retiree, (October 1, 2013). The Elder Law Report, Vol. 25, No. 3, October 2013, pp. 1-5; Illinois Program in Law, Behavior and Social Science Paper No. LBSS14-18. Provided below is the introduction to the article:
This article addresses the various options under Social Security, Medicare, and private retirement accounts that should be considered by individuals who are approaching or have reached their “retirement age” but plan to continue working. Specifically, the article considers Social Security’s bonuses for delaying Social Security retirement benefits and the related impact on a surviving spouse’s benefits, enrollment costs and delayed enrollment penalties in Medicare Parts A (hospital coverage), B (physicians’ fees), and D (drugs), and the penalty-free deferral of retirement plan distributions beyond age 70½.