Economy U.S. corporations continued to improve their balance sheets albeit at a slower pace this past quarter than in recent months. In contrast, countries of the euro-zone have been slow to adopt austerity measures, and remain in recession. Federal Reserve Chairman Bernanke drew ire, and…
…employees and plan beneficiaries who fail to direct the investment of their 401(k) plan account balances must provide a QDIA notice. The notice must reach employees and beneficiaries at least 30 days before (1) they are eligible to participate in the plan or (2) the…
…demographic – such advice is falling upon deaf ears. A report earlier this year by the Harvard Business Review found that, among Americans aged 40 to 45, “the median retirement account balance is $14,500 — less than 4 percent of what the median-income worker will…
…income to the recipients. Review loans to make sure that loan balances do not exceed the maximum limitations. Unless used to finance the purchase of a principal residence, all loans must be repaid within five years. A plan may impose more stringent conditions on loans…
…have to include their entire vested plan balance in income (any amount not previously taxed) if the plan is disqualified for certain reasons. In addition, distributions from a plan that has been disqualified are not considered eligible rollover distributions. Consequently, employees receiving distributions cannot roll…
…less buying power in US dollar terms. Conversely, Chinese goods and services have become cheaper for the rest of the world. A floating currency would help bring the US trade deficit with China back into balance. Among the world’s largest economies, China has the world’s…