Biggest Retirement News of 2021

Retirement issues have been front, right and center this year, as supply chain problems tied to the pandemic resulted in rising prices worldwide for seniors and other individuals. This led to a boost in the 2022 cost-of-living adjustment for Social Security recipients, which made it biggest jump in 30 years. The Social Security Trust Fund report also took on special significance this year; not only did it come out much later than usual, but its forecast had special implications for Social Security benefits and highlighted the need for Congress to act. Other topics in focus by Congress this year include a look at mega-back door individual retirement accounts, put into the spotlight by media reports about billionaire investor Peter Thiel's use of his own IRA to amass $5 billion. The gallery above looks at the details of some of the most influential developments involving advisors and the retirement industry this year.