-
Here's What Happens to Your 401(K) Loan If You Are Laid Off
If you’ve taken out a loan against your 401(k) savings account and lose your job, it could generate an unexpected tax bill. While recent economic rescue legislation provided some relief for coronavirus-related 401(k) loans, they still are subject to certain existing rules when you separate from your company, whether by choice or not. And that borrowed money could morph...
-
For Millions of Americans, the Coronavirus Pandemic Will Make Retiring Harder
Labor economist Teresa Ghilarducci began studying retirement in 2008, when the Great Recession was making it impossible for millions of Americans to retire. “The phenomenon of Granny working in McDonald’s really started to ramp up,” said Ghilarducci, who leads the Retirement Equity Lab at The New School in New York. Yet, as bad as it was then, she sees the current Covid-19 recession...
-
Puerto Rico Retirees Could Face 8.5% Cut to Pensions, in Latest Blow for Island
Retired government workers in Puerto Rico are bracing for a possible cut to their monthly checks even as the already financially strained island faces one of its most difficult moments with recent earthquakes. For Myra Rivera, a 69-year-old former teacher and translator, any reduction to her pension is unfair. “That’s robbing,” she says. In the last three years, Puerto...
-
Man Who Is Indiana's Oldest State Employee Retiring at 102
A 102-year-old man who is Indiana’s oldest state employee is retiring after nearly six decades on the job, saying that “your body tells you when it’s time to go.” Bob Vollmer plans to report to work for the last time Feb. 6 as a surveyor for the Indiana Department of Natural Resources. The southern Indiana man, whose mother lived...
-
Why Retiring at 65 Could Become a Thing of the Past
Raising the retirement age is an emotional issue. For evidence, just look at proposals to move up the full retirement age for Social Security. Even the idea upsets advocates who want to see the program expanded and individuals receiving benefits. Because of that, lawmakers tend to tiptoe around the issue. Outside the U.S., French citizens have taken to the...
Trending
