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Aug 25, 2008
Politicians Talk Tough About Obscene Executive Pay, But Where Are the Fixes?
Last year, a Financial Times/Harris poll revealed that 77 percent of Americans think chief executives "earn too much." And that sentiment has likely intensified in 2008, with one banker after another walking away from the mortgage mess with overflowing pockets.
Aug 14, 2008
Yes, You Can Create Your Own Financial Plan
Not everyone needs a financial planner - here are some of the key reasons why you might consider flying solo.
Aug 12, 2008
Most companies in US avoid federal income taxes
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said. About 25 percent of the U.S. corporations not paying corporate taxes were considered large corporations, meaning they had at least $250 million in assets or $50 million in receipts.
Aug 11, 2008
3 Retirement Rip-Offs
Elder fraud, already quite rampant in the United States, is on the rise. While individuals age 60 and over make up about 15 percent of the U.S. population, rip-offs of seniors account for nearly half of all complaints received by state securities regulators, according to the North American Securities Administrators Association.
Aug 10, 2008
Verizon Settlement Provides New Union Jobs, Protects Health Care for Active and Retired Workers, Boosts Wages, Pensions
A new tentative three-year contract settlement with Verizon achieves union employees' major goals of promoting union jobs and expanding bargaining rights, providing good health care for both active and retired workers, and increasing wages and pensions for 65,000 workers from Virginia to Maine, the Communications Workers of America and International Brotherhood of Electrical Workers reported.
Aug 4, 2008
Raise retirement age for Social Security?
The next president and a new Congress will come under increasing pressure to act to fix the Social Security system. Democratic presidential candidate Barack Obama rejects any increase in the retirement age while his GOP rival John McCain opposes tax increases as a possible fix. The American Academy of Actuaries, which advises policymakers on risk and financial security issues, wants any potential solution the White House and lawmakers might consider to include raising the retirement age from the current range of 65-to-67-years-old.
Aug 1, 2008
401(k)s In Danger
In recent years, defined benefit plans (such as pensions, where the amount of your future benefits are known) have given way to defined contribution plans, where only the sum you contribute to the account is known. Companies were suddenly off the hook regarding future obligations to many or all retirees. In exchange for this liberation, they've typically offered to match employee contributions. In order to save even more money, some companies may eliminate this match.
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