Tag: Pensions and Retirement Plans

A New Perk for Some Student Loan Borrowers: A 401(k) Match

Student loan borrowers who are lucky enough to have access to a 401(k)-type plan, but are too stretched to save in it, may soon be helped by a new workplace benefit: Paying off their student loans can generate retirement savings contributions from their employer. Starting this year, workers with student loans can receive employer matching […]

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Keeping a Midlife Crisis From Wrecking Your Retirement Plan

The midlife crisis is easy to poke fun at — especially if it’s someone else’s. The stereotype, as portrayed in movies and on TV, is familiar: A middle-aged man has a meltdown upon turning 40 and ditches his wife for a younger woman and a sports car. Or maybe just the car. In real life, […]

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What Is the Basel III Endgame, and Why Are Banks So Upset About It?

An unlikely coalition of banks, community groups and racial justice advocates is urging federal regulators to rethink the plan they proposed in July to update rules governing how U.S. banks protect themselves against potential losses. Regulators are calling for an increase in the amount of capital — cash-like assets — that banks have to hold […]

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After a Rip-Roaring 2023, the Markets Are Taking a Breather

Note that the average fund substantially lagged the broad stock market averages. Most funds are actively managed, by professionals trying to beat the market. By contrast, broad low-cost index funds, which merely seek to mirror the markets, generally did their job well. For example, the Vanguard Total Stock Market Index Fund returned 12.3 percent for […]

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Gabriel Attal Is France’s Youngest and First Openly Gay Prime Minister

PARIS — In a typically bold bid to revitalize his second term, President Emmanuel Macron named Gabriel Attal, 34, as his new prime minister, replacing Élisabeth Borne, 62, who made no secret of the fact that she was unhappy to be forced out. Mr. Attal, who was previously education minister and has occupied several government […]

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In 2024, More Old 401(k) Accounts Could Be Forced Into Rollovers

And in November, the financial services industry established a system that automatically moves old retirement accounts into the plan of the worker’s new employer. The Portability Services Network automatically matches Social Security numbers on workplace accounts, obtains the worker’s consent to move the money and automatically deposits money from the old account into the new […]

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A Shock for Many Retirees: Social Security Benefits Can Be Taxed

Social Security benefits weren’t taxed at all until 1984. In 1993, Bill Clinton signed legislation that expanded tax thresholds, making up to 85 percent of benefits taxable for recipients with combined incomes of more than $34,000 ($44,000 for joint filers). Those who earn less could be subject to taxes on up to 50 percent of […]

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What to Know About Long-Term Care Insurance

If you’re wealthy, you’ll be able to afford help in your home or care in an assisted-living facility or a nursing home. If you’re poor, you can turn to Medicaid for nursing homes or aides at home. But if you’re middle class, you’ll have a thorny decision to make: whether to buy long-term care insurance. […]

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G.M.’s New Contract With U.A.W. Faces Surprisingly Stiff Opposition

A United Automobile Workers union vote on a tentative contract agreement with General Motors that provides record wage increases has run into unexpectedly strong resistance from veteran workers. Voting at most union locals has been completed and the final result, due as early as Thursday evening, will very likely be decided by a narrow margin. […]

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Facing Financial Run as Costs Soar for Elder Care

Margaret Newcomb, 69, a retired French teacher, is desperately trying to protect her retirement savings by caring for her 82-year-old husband, who has severe dementia, at home in Seattle. She used to fear his disease-induced paranoia, but now he’s so frail and confused that he wanders away with no idea of how to find his […]

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Marilyn Mosby, the Former Baltimore Prosector, Found Guilty of Perjury

Marilyn Mosby, a former Baltimore prosecutor who rose to national prominence for pursuing charges against police officers in connection with the death of Freddie Gray, was found guilty in federal court on two counts of perjury for falsely claiming financial hardship to withdraw money from a retirement fund. The verdict, coming after a brief, three-day […]

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American Household Wealth Jumped in the Pandemic

American families saw the largest jump in their wealth on record between 2019 and 2022, according to Federal Reserve data released on Wednesday, as rising stock indexes, climbing home prices and repeated rounds of government stimulus left people’s finances healthier. Median net worth climbed by 37 percent over those three years after adjusting for inflation, […]

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U.A.W. Says Auto Strikes Will Become More Unpredictable

Four weeks after starting limited strikes against three large automakers, the United Automobile Workers is shifting to a more aggressive strategy, suggesting work stoppages could spread to more plants and possibly go on for some time. In an online video, the union’s president, Shawn Fain, said he would no longer wait to announce expansions of […]

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U.A.W. Prepares for Partial Strike Against Detroit Automakers on Friday

Barely 24 hours before the contract deadline, the United Auto Workers leader said Wednesday that his members were prepared for a strike against the three Detroit automakers — first at a limited number of factories, with the walkout expanding if talks remain bogged down. The U.A.W. president, Shawn Fain, also ruled out any extension of […]

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Fox Sued by New York City Pension Funds Over Election Falsehoods

New York City’s pension funds sued the Fox Corporation and its board on Tuesday, accusing the company of neglecting its duty to shareholders by opening itself up to defamation lawsuits from the persistent broadcasting of falsehoods about the 2020 presidential election. The lawsuit, filed in the Delaware Court of Chancery, is the most significant shareholder […]

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Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses

Workers may see losses in a bankruptcy if they invested much of their retirement money in their employer’s stock or if the employer made matching contributions in company stock, Mr. Stein of the Pension Rights Center said. Employees usually have the right to diversify their investments out of their company’s stock, he said, but they […]

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