Small business owners who are considering starting retirement plans for their employees have a chance to save on their 2017 taxes. If they want to set up the least complex plan, the SEP, or Simplified Employee Pension, they can still do so by the due date for their returns — and that could be as late as Oct. 15 if they get an extension of the upcoming April 17 filing deadline. SEPs require very little paperwork and reporting to the...
Demographic change is a defining issue of our time. As the worldwide population ages, the healthcare systems of every country, including the United States, will face significant challenges to meet the needs of an aging population. This article is the first in a series that will explore how nations are coping with demographic change. The series on aging will give you a close look at the future of long term care through the lens of a number of different healthcare...
The powers of a federal control board overseeing Puerto Rico’s finances could soon be tested as the U.S. territory’s governor on Monday defied its calls to implement more austerity measures amid an 11-year recession. Gov. Ricardo Rossello rejected demands that his administration submit a revised fiscal plan to include a labor reform and a 10 percent cut to a pension system facing nearly $50 billion in liabilities. He said the plan he will submit Thursday also will not contain any...
Little surprise, bean counters have the best 401k plans. Judy Diamond Associates is out with its third annual 401(k) Plan Benchmark Report, which lists the top industries leading the pack. The division of ALM Intelligence examined approximately 500,000 active 401k plans with at least $3,000 in plan assets. It found the following: Certified public accountants Financial advisory Legal Dental Insurance providers/brokers Physicians Engineering Financial and insurance services (all others) Consultants Mining and utilities Read More: 401K Specialist
The issue of the first 16,000 pensions based on the provisions of the 2016 law introduced by then social security minister Giorgos Katrougalos confirms that all pensioners can expect an average reduction of between 16 and 25 percent, reaching up to 50 percent in some cases. At the same time, the figures reveal that this is an unfair system in actuarial terms, as the biggest cuts have been imposed on the people who as workers had paid the highest social...
China's urban and rural residents pension insurance system, covering more than 500 million people, will meet five major changes, four years after it was established in 2014, according to a report by chinanews.com. The Ministry of Human Resources and Social Security and the Ministry of Finance released a guideline on Monday, indicating that the urban and rural residents pension insurance system, having not been established for a long time, still has some problems and needs to be improved. The security level...
About 66% of people between the ages of 21 and 32 have absolutely nothing saved for retirement, according to a report from the National Institute on Retirement Security. CNN heard from dozens of Millennials about why they have little or nothing saved. For the most part, they believe they'd be better off putting their money elsewhere. Some want to pay off student debt. Some are trying to build up their own business. Many graduated during the recession, worked low-wage jobs for a few years and then...
Even if you don't own individual shares of Facebook, the falling stock might not be a friend to your 401(k). Indeed, the "techlash" and share price free fall that have recently engulfed popular tech companies such as Facebook, Amazon, Netflix and Tesla might be causing you financial pain — without you even knowing it. The reason: You likely hold tech stocks in your retirement portfolio through index funds — and a lot more than you might think. Read More: USA Today
One of my favourite Australian television shows was The Hollowmen. It was set in the offices of the Central Policy Unit, a fictional political advisory unit set up by the Prime Minister to help him get re-elected. Every episode featured a headline-grabbing announcement, which upon analysis was found to be deeply flawed. It is particularly appropriate to the ongoing debate about Labor's intention to deny a refund of imputation credits. It was all going gung ho for the first couple...
A federal control board overseeing the finances of Puerto Rico's government demanded cuts to the island's shaky public pension system Wednesday and said it will consider raising the minimum wage only if certain conditions are met. The demands were outlined in various letters to Gov. Ricardo Rossello, who has repeatedly rejected imposing a 10 percent cut to pensions of more than $1,000 a month and is seeking to increase the minimum wage from $7.25 an hour to $8.25 by 2021. The...
