retirement

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 …

Older Job Seekers Have Little Patience for Long Search

Posted on 02/6/2014 by | Money and Work | Comments

WorkWhen it comes to the stressful search for a job, older workers apparently have less tolerance for the process. Most either land a job or stop searching altogether within a year or less, according to a study by the Center for Retirement Research at Boston College. Those who have employer-paid pensions, retirement assets and Social Security to rely on were more likely to end the job hunt even sooner, usually within four months, the study found. In fact, just being eligible …

More New Retirement Account Proposals

Posted on 02/5/2014 by | Washington Watch | Comments

Bulletin Today | PoliticsAmericans are way short in their retirement savings, and President Obama’s MyRA plan, which he unveiled last week, isn’t the only new proposal that aims to help with that problem. Sens. Susan Collins, R-Maine, and Bill Nelson, D-Fla., also offered a savings plan. Sen. Tom Harkin, D-Iowa, has one of his own, which follows a report he released last summer. Of these three proposals, Harkin’s is the most ambitious. His Universal, Secure and Adaptable (USA) Retirement Funds would create a …

MyRA — Thumbs Up or Thumbs Down?

Posted on 01/30/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA day after President Barack Obama gave the go-ahead for the Treasury Department to create a “starter” savings account, experts are weighing whether it will be worthwhile or just another ignored investment tool. Critics note, for instance, that the so-called myRA will do little to overcome the huge shortfall in retirement savings among so many workers. The conservatively invested accounts, though they won’t lose money, won’t make much of a return, either. And the myRA is voluntary, so it’s unclear …

Obama’s MyRA Gets Early Go Ahead

Posted on 01/29/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsPresident Barack Obama is moving quickly to make good on his pledge to create a new “starter” savings program for workers without a retirement plan on the job. He announced in his State of the Union speech Tuesday night that he would use his executive authority to establish a so-called myRA (my retirement account) that would allow workers to direct a portion of their pay into an account that invests in government securities. On Wednesday afternoon, he signed a presidential memorandum to …

Is Your State a … Weakling?

Posted on 01/24/2014 by | Washington Watch | Comments

Bulletin Today | PoliticsPolitico Magazine has tallied the numbers, and the Oscar for best state goes to … New Hampshire. Actually, the magazine’s ranking is pegged to a different winter event: the president’s annual State of the Union address. Here’s what Politico‘s Margaret Slattery has to say: Tuesday, President Obama, if precedent holds, will declare that the state of America’s union is “strong.” Is it? One way to judge is by the state of the states of the union: How strong are they, and, …