Senior Editor, Money Team

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.

Investors Win in Supreme Court 401(k) Decision

The U.S. Supreme Court this week sent a strong message to employers offering 401(k)s: You can’t just pick investments for the plan and then forget about them. This unanimous decision is expected to provide greater protection for 401(k) participants who increasingly rely on these plans to fund their retirement. And it may also trigger more lawsuits by workers unhappy with their investment options and the fees charged, legal experts say. “Participants over the long term should benefit from all of …

Reverse Mortgages Now Harder to Get

If you’ve thought about taking out a reverse mortgage, be aware that new rules that recently kicked in might make it harder for you to qualify. The U.S. Department of Housing and Urban Development tightened lending criteria late last month. The changes require that lenders determine whether would-be borrowers have enough income to keep up with property taxes and homeowners insurance so they don’t default on the loan and, possibly, lose their home. HUD’s Federal Housing Administration insures most reverse mortgages. …

Trends Favor Hiring Older Workers

Workers 50 and older face a hurdle that younger peers don’t: how to overcome negative stereotypes that paint them as much more expensive, out of touch with technology and less productive. An AARP report released Monday dispels these myths. The report, “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” was conducted by Aon Hewitt and based primarily on data from large employers. A similar report, which confirmed the value of older employees, was done …

Workers More Upbeat About Retirement Prospects

More than one-third of workers say they won’t retire until after age 65, about three times the number saying so in the early 1990s. Another 10 percent say they won’t ever quit working. That’s according to an annual survey released Tuesday by the Employee Benefit Research Institute. Back in 1991, when EBRI first conducted the survey, this idea of never retiring didn’t even come up, says Craig Copeland, a senior researcher at EBRI and coauthor of the study. That is one of …

Labor Department Proposes Rule to Save Retirees Billions

Financial advisers would have to adhere to more stringent standards when giving advice on 401(k) plans, IRAs and other retirement accounts under a rule proposed Tuesday by the U.S. Department of Labor. The proposed rule would protect people saving for retirement from being steered into accounts with high fees and commissions that benefit the adviser at the expense of the saver. It would force financial professionals to act in the best interest of their clients — a move that advocates say would …

Haven’t Filed Your Tax Return? Then This Is for You

The federal tax deadline is just around the corner. Need more time? No problem. You can get an automatic extension from Uncle Sam by filing Form 4868 by the April 15 deadline. This will give you until Oct. 15 to file your return. The form is only seven lines – half of which are your name, address and Social Security number. However, it does require you to estimate your tax liability. Get discounts on insurance and banking services — AARP Member Advantages. » And …