Finance Retirement

Tax Amnesty Deadline Looms

U.S. taxpayers who dodged the Internal Revenue Service with offshore bank accounts are rushing to meet an amnesty deadline, a government official said.


SEC Inspector Recommends Changes

U.S. Securities and Exchange Commission investigator H. David Kotz has recommended 58 steps to tighten enforcement in the wake of the Bernard Madoff scandal.


401(k) Losses May Mean Delaying Retirement

As employers review offering buyouts or making changes in their 401(k) plans, they need to realize that they could be looking at two audiences. The younger-than-50 crowd remains worried about layoffs but not retirement after living through the worst single year for stocks since the 1930s. The nearly-ready-to-retire crowd is no longer ready.


Factor in Your Line of Work When Planning Investments

When we invest our money we often look at our tolerance for risk to decide how much to put in stocks, bonds and other investments. The belief is that the younger you are the more you put in stocks because you have a longer time frame to ride the ups and downs of the market. Another belief is how much of your money you are comfortable losing before panicking. But one consideration beyond emotions not taken too often is how your career should influence your investment decisions.


Seniors Realizing Nest Egg in Life Insurance Policies

Seniors battered by the tough economy are selling their life insurance policies to replenish their retirement nest eggs. Unlike younger investors, older adults may not have the time to wait for the market to recover all of their losses, so they're turning to this previously overlooked asset to see whether they should sell it and use the money to pay medical bills or other expenses.


Get Up to Date on Your 401(K)

The current economic downturn has hit 401(k) retirement plans hard, and left millions of Americans wondering whether their 401(k) will bounce back and provide enough income in their retirement years. Several Web sites offer a wealth of information about 401(k) plans, from considerations about the future of the saving program to 401(k) basics and recent news. If you'd like to check in on 401(k) developments, here are a few sites worth visiting:


Smaller Investors Dip Toes Back into Stock Market

After a brutal bear market in which the Standard & Poor's 500 Index plunged 57 percent, small investors were reluctant to open their mutual fund and 401(k) plan statements. Four months later, the stock market is 46 percent higher and may be a fit topic for cocktail party conversation again.


CalPERS Invested More than $110 Million with Former 'Car Czar'

CalPERS has invested more than $110 million with financier Steven Rattner, who resigned as President Barack Obama's "car czar" last week amid an investigation into his dealings with New York's public employee pension fund.


Breaking the Bad News on 401(k)s

A February survey by Hewitt Associates found that 2 percent of employers have cut or temporarily suspended their 401 (k) match, while an additional 5 percent expect to do so in 2009. For HR and benefits managers at these companies, delivering this message can prove to be challenging


Many Couples Diverge on Retirement Planning

They may have vowed to stick together in sickness or in health, but that doesn't mean married couples have talked much about their financial plans for retirement. Couples are often on separate pages on retirement.


$2 Million Settles Kickback Scandal

A California financial company on Wednesday agreed to repay $2 million to New York state's giant public pension fund after one of the company's former partners was implicated in paying a kickback to secure investment deals from the fund. Pacific Corporate Group Holdings LLC of La Jolla agreed to make the payment under a settlement deal reached with New York Attorney General Andrew Cuomo. In exchange, New York agreed to drop all criminal and civil charges against the firm, Cuomo said in a news release.


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