(Mid-America Pension Rights Project): Michigan can say ‘thank u, Ariana Grande’; Her hit ‘7 Rings’ boosts state pension funds

Via Lansing State Journal By Carol Thompson Michigan pensioners get a little boost every time Ariana Grande’s chart-topping song “7 Rings” hits the airwaves. That’s good news for the more than 530,000 people tied to the state’s pension programs, most of which are not fully funded. There isn’t a direct line between “7 Rings” to pensioners’ pockets, but it’s pretty close. Here’s the connection: In the song, Grande puts … Continue reading (Mid-America Pension Rights Project): Michigan can say ‘thank u, Ariana Grande’; Her hit ‘7 Rings’ boosts state pension funds

(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 services. The Pension Project works to find answers and solutions to your pension-related problem.  Sometimes retirees are notified after retirement that the monthly … Continue reading (Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems

(Mid-America Pension Rights Project): Scams cheat older Americans out of almost $3 billion a year.

Via CNBC By Maggie Fitzgerald Seniors lose an estimated $2.9 billion annually from financial exploitation, according to the Senate Special Committee on Aging. Impersonating the IRS was the No. 1 scam targeting seniors in 2018. More than 1,500 seniors across the country contacted the committee’s fraud hotline in 2018; however, Kansas Attorney General Derek Schmidt said in recent testimony that only 1 in every 24 … Continue reading (Mid-America Pension Rights Project): Scams cheat older Americans out of almost $3 billion a year.

(Mid-America Pension Rights Project): More plans looking to hang on to assets of departing workers

Via Pensions&Investments By Margarida Correia Employees may leave their jobs but the money in their retirement plans can stay. That’s the thinking among a growing number of defined contribution plan sponsors, particularly those running large plans, recent studies from Alight Solutions and Callan LLC show. With baby boomers retiring, plan sponsors would rather not see their assets “walk out the door” as it could compromise their ability … Continue reading (Mid-America Pension Rights Project): More plans looking to hang on to assets of departing workers

A woman wearing a hard hat works in a factory.

(Mid-America Pension Rights Project): Mr. K’s Story

By Sandra Wisnewski, Director of the Mid-America Pension Rights Project  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 MAPRP works to find answers and solutions to your pension-related problems. Just ask Mr. K.  Mr. K. worked for a company located in Michigan and was a member of a union. He left the company in … Continue reading (Mid-America Pension Rights Project): Mr. K’s Story

(Mid-America Pension Rights Project): Family Law: Military Divorce Retirement, Pension Rules Change

Via The National Law Review By Jaliz Maldonado In the year 2017, the National Defense Authorization Act underwent a revision concerning the way in which pension of military personnel is divided in the case of a divorce between the spouses. While previously, it was thought to be the decision of the State under the USFSPA enacted in 1982, now Congress has come up with a single, … Continue reading (Mid-America Pension Rights Project): Family Law: Military Divorce Retirement, Pension Rules Change

(Mid-America Pension Rights Project): Worried about a missing pension or 401(k)? Here’s where you can get help

Via Detroit Free Press By Susan Tompor Randy Sigley, 63, who grew up in West Virginia, remembers that jobs were hard to come by in the mid-1970s so he headed to Ohio to work in a factory making concrete pipe. He got that job about a year out of high school and made sure to hold onto it at least 10 years because he always heard that he’d … Continue reading (Mid-America Pension Rights Project): Worried about a missing pension or 401(k)? Here’s where you can get help

(Mid-America Pension Rights Project): State to monitor underfunded Midland pension

Via Midland Daily News By John Kennett An underfunded pension plan has forced the City of Midland to take corrective action with the state. The City of Midland has three defined-benefit retirement plans. Two of those, the Retiree Health Care and Public Act 345, Fire Fighters and Police Officers Retirement Act, are in good shape according to state officials. But, the third, the Municipal Employees’ … Continue reading (Mid-America Pension Rights Project): State to monitor underfunded Midland pension

(Mid-America Pension Rights Project): Retirement Withdrawal Strategies: Which Should You Use?

Via NerdWallet By Andrea Coombes It’d be nice if saving for retirement was all we had to do. Turns out, we also need to decide on the best way to pull out our savings once we retire. Luckily, smart people have come up with a variety of tactics to stretch our savings for the long haul. Read on to review some of the most popular … Continue reading (Mid-America Pension Rights Project): Retirement Withdrawal Strategies: Which Should You Use?

(Mid-America Pension Rights Project): IRS Raises 401(k), IRA Contribution Limits for 2019

Via ThinkAdvisor By Marlene Satter The IRS has announced in Notice 2018-83 new cost-of-living adjustments that affect dollar limitations for defined contribution plans and other retirement-related items for tax year 2019. Those contributing to 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan will be able to boost their contribution from $18,500 to $19,000. IRA contributions, not raised since 2013, will now be $6,000, … Continue reading (Mid-America Pension Rights Project): IRS Raises 401(k), IRA Contribution Limits for 2019