We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.
The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ...
Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.
Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.
The start of a new year is a great time to make some resolutions that could change your personal financial picture for the better. One such pledge is to sock away more money for retirement in the coming year -- an especially crucial move for folks who are currently behind on savings. Here are five ways to make that happen. 1. Bank your raise If you were lucky enough to snag a raise this year, you have a great...
The American workforce is getting older. In fact, by 2024 the Bureau of Labor Statistics estimates that 25% of the US workforce will be composed of workers over the age of 55, and a third of those workers will be older than 65. The reasons, for the most part, are due to the country’s overall ageing population as a result of declining birth rates and better life expectancy. But there’s also something else going on. Employees are not only working longer...
Fourth quarter decline in stock market derailed improved funding trend for year The funded status of the nation's largest corporate pension plans slipped at the end of 2018 as a sharp decline in the stock market during the fourth quarter offset what looked to be a second consecutive year of improved funding, according to an analysis by Willis Towers Watson (NASDAQ:WLTW), a leading global advisory, broking and solutions company. Willis Towers Watson examined pension plan data for 389...
The average U.S. corporate pension plan lost 4.7 percent last year after stocks tanked in the fourth quarter, according to Willis Towers Watson. Steep year-end declines in U.S. stocks left America’s largest public companies deeper in the hole for their pension obligations, according to analysis by consulting firm Willis Towers Watson. Pension funding levels for Fortune 1000 companies dipped to an estimated 84 percent after a volatile fourth quarter culminated in sharp losses in December. The Standard & Poor's...
A lawsuit between Transamerica Corporation and Sanford Heisler Sharp, LLP filed on December 28, alleges the company violated its duties under ERISA and abused employees' trust by mismanaging their retirement funds. The lawsuit claims the company invested employee retirement savings into funds that consistently underperform in their investment benchmarks and similar funds. Documents allege Transamerica has cost its employees millions of dollars in retirement savings that were a part of the Transamerica 401(k) Plan. Plaintiffs Jeremy Karg, Matthew R....
Americans Spend More Than $5,000 a Year on Non-Necessities The survey asked respondents how much they spent annually on the following six categories: Eating out and food deliveryCoffeeAlcoholRide-sharing services and taxisClothing and accessoriesEvents (e.g. concerts, sports) On average, respondents spent $5,339 annually on all of those expenditures combined. The biggest source of nonessential spending is eating out, takeout and food delivery. Respondents said they spent an average of $2,167 a year on food that they didn’t prepare at home....
The Retirement Parity for Student Loans Act would permit 401(k), 403(b), and SIMPLE retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions. Senators Ron Wyden, D-Oregon, and Ben Cardin, D-Maryland, have introduced legislation that would allow 401(k), 403(b) and SIMPLE retirement plan sponsors to use their plans to provide student loan repayment benefits to employees. According to a summary of the bill, The Retirement Parity for Student Loans Act would...
MetLife Inc will pay a US$1 million fine to resolve claims that it made misleading statements to investors in failing to pay pension benefits to thousands of retirees it improperly treated as "presumed dead." Massachusetts Secretary of the Commonwealth William Galvin announced the settlement on Wednesday. The deal resolves an administrative case that Galvin's office filed against MetLife in June. As part of the settlement, Galvin's office said that MetLife will provide payments, with interest, to hundreds of Massachusetts...
Kentucky’s public pension, which was at risk of benefit cuts, may be saved Kentucky has one of the worst public pension plans in the country, but it’s just been saved from getting even worse. The state’s Supreme Court ruled against a reform law that would have cut benefits for public employees, including teachers, law enforcement, firefighters, social workers and government workers. Under the law, workers hired between 2003 and 2008 would have to pay 1% of their salaries for retiree health...
Earlier this year Fidelity reported that the number of 401K millionaires hit an all time high of 168,000 and the number of IRA millionaires hit 156,000. Now that the 76 million Baby Boomers are starting to retire and reach the age of Required Minimum Distributions - planning for tax efficiently drawing down their savings is becoming a bigger concern. Additionally many people believe we may be in a once in a generation window of low taxes , and that...
Arabic
Chinese (Simplified)
English
French
German
Portuguese
Russian
Spanish