paycheck

Workers Say Employers Getting Stingy on Pay, Benefits

Posted on 03/26/2014 by | Money and Work | Comments

Bulletin Today | WorkIf the economy’s improving, why do workers say that their employers are getting stingier with pay or benefits, possibly compromising their financial security now and in retirement? In a survey of 5,070 U.S. workers, 76 percent said their company made one change or another in the last two years that weakened their retirement benefits, reduced pay raises, increased out-of-pocket health care costs or premiums, cut back on hours, laid off workers or involved a major restructuring. The survey, conducted by …

Payday Loan Fees Often Exceed the Amount Borrowed

Posted on 03/25/2014 by | Senior Editor, Money Team | Comments

Money & SavingsIf you need more evidence that payday loans can be a debt trap, look no further than today’s report by the Consumer Financial Protection Bureau. The agency found that 4 out of 5 payday loans are renewed or rolled over within two weeks after the end of their term. In half of these cases, the borrower renews the loan at least 10 times in a row. And repeat borrowing may be more expensive than many borrowers may realize. Fees in …

Employers Shift More Health Care Costs to Workers

Posted on 03/7/2014 by | Money and Work | Comments

Bulletin Today | WorkIt’s not that your paycheck feels smaller. It is smaller, thanks to the bigger portion that health care costs are siphoning from your take-home pay. Employers year after year have shifted more of the burden for health insurance costs to workers. And it’s no different for this year. Employees’ premiums rose by nearly 7 percent to $2,975 for 2014, not counting out-of-pocket costs, according to a survey released this week by Towers Watson and the National Business Group on Health, …

AOL Reverses 401(k) Policy After Blowback

Posted on 02/10/2014 by | Money and Work | Comments

Money & SavingsLike boomers (and all workers, for that matter) don’t have enough to worry about when it comes to saving enough for retirement. Now actions by AOL’s Tim Armstrong may be setting a dangerous example for other companies to follow. First, the chief executive of AOL told employees Thursday he was changing the company’s 401(k) match to a year-end lump sum contribution rather than contributions throughout the year. Leave before Dec. 31, 2014 (voluntarily or involuntarily), and you lose out on …