Pension regulation aims to safeguard the retirement savings of individuals by ensuring that pension plans are managed responsibly and that participants' benefits are protected.

The Department of Labor (DOL) is the primary federal agency responsible for regulating private-sector pension plans in the United States.

In the United States, individuals can access their pension benefits without penalty starting at age 59½.

The maximum contribution limit for a traditional IRA in 2023 is $6,500 ($7,500 for individuals age 50 or older).

401(k) plans are employer-sponsored retirement savings plans that allow employees to contribute a portion of their salary on a pre-tax basis.

The maximum contribution limit for a 401(k) plan in 2023 is $22,500 ($30,000 for individuals age 50 or older).

SEP IRAs are retirement savings plans designed specifically for self-employed individuals and small business owners.

The maximum contribution limit for a SEP IRA in 2023 is $6,500 ($7,500 for individuals age 50 or older).

The required minimum distribution (RMD) age for traditional IRAs and 401(k) plans is 72.

The penalty for failing to take a required minimum distribution (RMD) from a traditional IRA or 401(k) plan is 50% of the amount that should have been distributed.

There is no age limit for contributing to a traditional IRA, as long as the individual has earned income.

There is no age limit for contributing to a Roth IRA, as long as the individual has earned income.

Roth IRAs are funded by after-tax contributions and allow for tax-free withdrawals in retirement.

The maximum contribution limit for a Roth IRA in 2023 is $6,500 ($7,500 for individuals age 50 or older).

The income limit for contributing to a Roth IRA in 2023 is $129,000 for single filers and $218,000 for married couples filing jointly.