A Redesigned Retirement Benefits Portal That Works for You

By Vonda Van Til, Social Security Public Affairs Specialist We are excited to tell you about our redesigned retirement benefits portal at http://www.ssa.gov/benefits/retirement.  Keeping you informed about our products and services, and helping you prepare for making decisions that will affect your benefits is very important to us.  Preparing for retirement is one of the most important decisions you can make. Our website has helped … Continue reading A Redesigned Retirement Benefits Portal That Works for You

(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 Mr. J. Mr. J. worked for a company for … Continue reading (Mid-America Pension Rights Project): A Working-Class Program that Works to Solve Your Pension Problems

Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 2

By Christine Steinmetz, Pension Attorney at the Mid-America Pension Rights Project at Elder Law of Michigan In my last blog post, I discussed a defined benefit pension where the employer solely contributes to the plan and bears all the risk. In this post, I will discuss the defined contribution plan. A 401(k), also called a defined contribution benefit, is very different from a defined benefit … Continue reading Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 2

Retirement planning 101 with Social Security

By Vonda Vantil, Social Security Public Affairs Specialist Social Security benefits are part of the retirement plan of almost every American worker.  If you’re among the people covered under Social Security, you need to know how much you might receive from us when you begin receiving benefits.  These monthly payments may be a vital part of your retirement income. We base your benefit payment on … Continue reading Retirement planning 101 with Social Security

(Mid-America Pension Rights Project): Raiding Your 401(K) Can Be a Divorce Disaster

Via Kiplinger By Stacy Francis Many divorcing spouses find themselves strapped for money to pay for mounting legal bills and the higher costs of supporting two households, rather than one. With bank accounts and brokerage accounts drained to zero, some look to tap their employer 401(k)s or IRAs for quick cash to cover these costs. Within a few days, you can have the balance of … Continue reading (Mid-America Pension Rights Project): Raiding Your 401(K) Can Be a Divorce Disaster

Ready to Retire? Apply Online with Social Security

By Vonda Vantil, Social Security Public Affairs Specialist It’s never too early to start planning for retirement and our online tools can help.  Go to  http://www.socialsecurity.gov/myaccount to access your my Social Security account to get a personalized estimate of your retirement benefits based on your earnings record.  Once you have an account, you can use our Retirement Calculator, to check out how your benefits change … Continue reading Ready to Retire? Apply Online with Social Security

Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 1

By Christine Steinmetz, Pension Attorney at the Mid-America Pension Rights Project at Elder Law of Michigan Do you ever wonder if you have saved enough for retirement? There are so many online calculators, articles, and books written on this very issue. You save and expect your retirement to go smoothly. However, many people retire and realize that they have not saved enough. Recently, General Electric … Continue reading Mid-America Pension Rights Project: Defined Benefit Pension vs Defined Contribution 401(k): Part 1

Social Security benefits increase in 2020

By Vonda Vantil, Social Security Public Affairs Specialist Each year, we announce the annual cost-of-living adjustment (COLA). By law, federal benefits increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Usually, there is an increase in the benefit amount people will receive each month, starting the following January. Nearly … Continue reading Social Security benefits increase in 2020

Older Adults Are Outliving Their Retirement Savings: How I Helped My 89-Year Old Grandmother Bridge the Gap

By Denise Keiser, Fund Development Specialist at Elder Law of Michigan Recently, I sat down with my grandmother who is in her 80’s to help prepare her monthly bills and discovered some startling news about her retirement savings – it’s gone! She, like many seniors her age, has outlived her nest egg. Surprisingly, she never thought she would live this long, and thus, ever run … Continue reading Older Adults Are Outliving Their Retirement Savings: How I Helped My 89-Year Old Grandmother Bridge the Gap

(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