Obama propone normativas para proteger los ahorros de los trabajadores

El presidente Barack Obama pidió al Departamento del Trabajo (en inglés) federal que presente una normativa para proteger los ahorros de las cuentas IRA, 401(k) y otros planes de jubilación ofrecidos por los empleadores, de cargos y gastos ocultos que pueden representar pérdidas de miles de millones de dólares a los ahorristas. El presidente quiere que a los corredores de inversiones y otros asesores se les requiera actuar teniendo en mente el mejor interés de los inversores y no el …

President Proposes Rule to Protect Worker Savings

President Barack Obama called on the Department of Labor today to draw up a rule to protect people who save in IRAs, 401(k)s and other workplace retirement plans from hidden fees and expenses that may drain billions from their accounts. The president wants brokers and other professionals to be required to act in an investor’s best interest — instead of their own — when dispensing advice on retirement accounts. “Right now there are no uniform rules of the road that require retirement advisers to …

Few African Americans Take Advantage of Retirement Planning Products

Recent research shows that most African Americans/blacks age 50-plus use financial products, such as checking accounts and savings accounts. But only 1 in 10 use retirement planning products, such as a 401(k) plan or individual retirement account (IRA). Millions of Americans haven’t saved any money for their golden years, and millions of others haven’t saved nearly enough. According to the Federal Reserve, the median balance of retirement accounts totals less than $60,000, and many African Americans/blacks have saved even less. >> AARP …

Obama Budget Would Drastically Alter IRA Rules

President Barack Obama calls them loopholes, although investors consider them playing by the rules. Yet under the president’s newly released budget, some of the tax strategies used by high-income earners to contribute to Roth IRAs or maximize the tax benefits on inherited IRAs would go away. Right now, to make a full or partial contribution to a tax-friendly Roth IRA, income must be under $131,000 for an individual and $193,000 for a married couple. High earners have gotten around this by …

Coalition Urges Labor Department to Protect Retirees’ Nest Eggs

Public interest groups have joined forces in a coalition to prod the U.S. Department of Labor to revise rules requiring financial advisers to act in their clients’ best interests when offering retirement investment advice. SaveOurRetirement.com, a website created by the coalition, is urging the Labor Department to update the so-called fiduciary rule. Without that safeguard, advisers to retirement plans could sell financial products that pay large commissions yet hurt their clients with unnecessary fees, poor returns or excessive risks, the coalition said. “Right now, …