4 Mistakes to Avoid When Borrowing From Your 401(k)

Via The Motley Fool By Catherine Brock Whether you’re consolidating debt or replacing the transmission in your car, a 401(k) loan can provide the low-cost funds you need, fast. After all, you have access to 50% of your vested balance or up to $50,000, whichever is less. And, you’d be borrowing from yourself, which feels better than borrowing money from the bank. That’s the good … Continue reading 4 Mistakes to Avoid When Borrowing From Your 401(k)

Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans

Via Kiplinger By Randy Lupi About 10 years ago I met with a client — she was a teacher and a single mom hoping to put her kids through college. At 56, she was almost past the average retirement age for teachers in her state, yet it was clear she wasn’t going to be retiring anytime soon — not only because of the tuition bills … Continue reading Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans

(Mid-America Pension Rights Project): Will the Retirement Crisis Change Our Attitudes Toward Saving?

Via ThinkAdvisor By Gary Anetsberger We all know that saving for retirement is important. As a society, we are living longer than we expected, and this sometimes means that we did not save enough during our working years. Living longer lives is of course a wonderful thing, but it also means that nearly everyone has an opinion on how much to save, through what vehicles, … Continue reading (Mid-America Pension Rights Project): Will the Retirement Crisis Change Our Attitudes Toward Saving?

(Mid-America Pension Rights Project): 401(k) participants sue AutoZone over alleged ERISA breaches

Via Pensions&Investments By James Comtois Participants in a $549 million 401(k) plan sponsored by AutoZone Inc. have filed a class-action lawsuit against the company for violating ERISA. The suit, filed Wednesday in U.S. District Court in Memphis, alleges that AutoZone breached its fiduciary duties by approving, maintaining and recommending an asset allocation service called “GoalMaker” provided by Prudential Insurance Co. of America, which the participants … Continue reading (Mid-America Pension Rights Project): 401(k) participants sue AutoZone over alleged ERISA breaches

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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. Z. Ms. Z worked for a company for many years. It had been so long ago … Continue reading (Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems

(Mid-America Pension Rights Project): How retirees can make required minimum distributions pain free

Via CNBC By Lorie Konish Stocks had a rocky close to 2018. That doesn’t mean your required minimum distribution from retirement accounts will be lower this year as a result. RMDs, as they are commonly known, are the minimum amount individuals who are age 70½ and older must take out of their retirement funds such as individual retirement accounts or workplace-based accounts such as 401(k) … Continue reading (Mid-America Pension Rights Project): How retirees can make required minimum distributions pain free

(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