When President Obama embraced same-sex marriage last week, he tried to frame it as an issue for the states to resolve. But federal laws and policies are very much front and center in the battle for a level financial playing field for lesbian, gay, bisexual and transgender (LGBT) Americans – especially seniors. And the Obama [...] [read full article…]
We’ve all seen the studies – one seems to land on my desk once or twice a week. “Americans are living longer.” “Fewer have defined benefit pensions.” “The value of Social Security is shrinking.” “Boomers don’t have enough money to retire comfortably.” “A retirement crisis is looming.” Just a couple recent data points: –Working American [...] [read full article…]
Imagine getting the following notice in the mail from your life insurance carrier: “Dear Customer: Due to the difficult business climate, we no longer will be mailing out a regular statement on your account as a cost-saving measure. We do expect you to continue paying your premiums, so please log on to our website to [...] [read full article…]
Roth workplace accounts, which have grown more popular in recent years, are about to get a shot in the arm from Uncle Sam. This week the federal government started rolling out a Roth option to 3.3 million employees who participate in its main retirement program. Unlike tax-deferred retirement accounts, Roth contributions are made with after-tax [...] [read full article…]
Ford Motor Company is making an offer it hopes 90,000 former employees can’t refuse: a lump sum buyout of their pensions. The auto giant plans to offer a voluntary buyout of defined benefit pensions to salaried retirees and former employees, with payouts to start later this year. Although Ford hasn’t revealed the exact terms of [...] [read full article…]
