(Mid-America Pension Rights Project): St. Clair voters asked to renew tax for city pensions

Via Voice News By Jim Bloch Voters in the city of St. Clair will head to the polls on Nov. 5 to decide whether or not to renew a one mill property tax to help the city pay the pensions of city employees. On a house valued at $100,000, the tax would amount to $100 per year. It is one of the longest-standing voted taxes … Continue reading (Mid-America Pension Rights Project): St. Clair voters asked to renew tax for city pensions

(Mid-America Pension Rights Project): 3 Common 401(k) Mistakes That Could Cost You Thousands

Via The Motley Fool By Katie Brockman The 401(k) is one of the most powerful retirement tools out there, so if you’re lucky enough to have access to one, take advantage of it. As of 2019, you can contribute up to $19,000 per year to your 401(k), which is more than three times the annual amount you can save in a traditional or Roth IRA. … Continue reading (Mid-America Pension Rights Project): 3 Common 401(k) Mistakes That Could Cost You Thousands

(Mid-America Pension Rights Project): GE’s pension freeze puts a spotlight on America’s retirement planning problem

Via Yahoo News By Ethan Wolff-Mann The news that General Electric (GE) was freezing its pension for 20,000 workers this week and offering buyouts to 100,000 former employees sent the company’s beleaguered stock up slightly, but dealt the two fierce blows to two great American institutions. The first: GE itself. An American staple and iconic industrial company that has employed hundreds of thousands — if not millions … Continue reading (Mid-America Pension Rights Project): GE’s pension freeze puts a spotlight on America’s retirement planning problem

(Mid-America Pension Rights Project): GE freezes pension benefits to reduce deficit

Via Pensions&Investments By James Comtois General Electric Co. said Monday it plans to freeze its U.S. pension plan for about 20,000 salaried employees and its U.S. supplementary pension plan for some 700 employees. Employees affected by the freeze will move into the firm’s 401(k) plan effective Jan. 1, 2021. GE’s pension plan has been closed to new entrants since Jan. 1, 2012. In addition, GE … Continue reading (Mid-America Pension Rights Project): GE freezes pension benefits to reduce deficit

(Mid-America Pension Rights Project): ERISA at 45: Where do we go from here?

Via BenefitsPro By Alan Vorchheimer September 2019 marks the 45th anniversary of President Gerald Ford signing the Employee Retirement Income Security Act, commonly called ERISA. Of course, the issue of retirement income security is as relevant as ever, particularly given questions about the long-term sustainability of current Social Security benefit levels. We can use this occasion to review the issues that the legislation was intended to address, … Continue reading (Mid-America Pension Rights Project): ERISA at 45: Where do we go from here?

(Mid-America Pension Rights Project): Genetic testing scam preys on seniors’ cancer fears and may be costing taxpayers millions

Via CBS News The trouble began for Ken and Judy Johnson – a pair of retirees from Austin, Texas – at a Fort Lauderdale arts festival. “There was a couple of people in there saying ‘come get your DNA tested,’” Judy recalled. The company, Genexe Health, billed itself as a genetic testing “one-stop shop.” With a quick cheek swab, the Johnson’s could learn if they … Continue reading (Mid-America Pension Rights Project): Genetic testing scam preys on seniors’ cancer fears and may be costing taxpayers millions

(Mid-America Pension Rights Project): Proposed Hardship Distribution Regulations Mean Changes for 401(k) and 403(b) Plan Sponsors

Via JD Supra By Samantha Kopacz and Samuel Parks Employer-sponsors of certain retirement plans have work to do prior to the end of 2019. Sponsors of Internal Revenue Code (“Code”) section 401(k) and 403(b) plans must analyze their plan documents and associated administrative procedures in order to ensure compliance with newly issued guidance related to hardship distributions. On November 18, 2018, the Internal Revenue Service … Continue reading (Mid-America Pension Rights Project): Proposed Hardship Distribution Regulations Mean Changes for 401(k) and 403(b) Plan Sponsors

(Mid-America Pension Rights Project): Coal Miners Back in Washington Fighting for Benefits

Via Western Kentucky University By Becca Schimmel United Mine Workers and supporters were on Capitol Hill Wednesday in an effort to shore up their pension and health benefits. More than 43,000 coal miners in Kentucky, Ohio and West Virginia are growing anxious about losing their retirement benefits. The coal miner’s union says its pension fund will be insolvent in three years if Congress doesn’t take action. If … Continue reading (Mid-America Pension Rights Project): Coal Miners Back in Washington Fighting for Benefits

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(Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems

Sandra Wisnewski, Director of the Mid-America Pension Rights Project at Elder Law of Michigan The Mid-America Pension Rights Project (MAPRP) assists clients with pension and 401(k) issues. There are no age or income restrictions. And there is never a charge for the services. The Pension Project works to find answers and solutions to your pension-related problem. Just ask Ms. P. Ms. P had been divorced … Continue reading (Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems

(Mid-America Pension Rights Project ): A Working-Class Program that Works to Solve Your Pension Problems

By Sandra Wisnewski, Director of the Mid-America Pension Rights Project at Elder Law of Michigan The Mid-America Pension Rights Project (MAPRP) assists clients with pension and 401(k) issues. There are no age or income restrictions and there is never a charge for the services. The Pension Project works to find answers and solutions to your pension-related problem. Just ask Ms. Q. Ms. Q. worked for … Continue reading (Mid-America Pension Rights Project ): A Working-Class Program that Works to Solve Your Pension Problems