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Low returns create bleak outlook for clients in ‘retirement red zone’ Morningstar’s David Blanchett says the 10-year return forecast puts those closest to retirement age in a dangerous place May 1, 2018 by Ryan W. Neal David Blanchett, Morningstar’s head of retirement research, doesn’t have a lot of good news for retirement plan advisers. Morningstar is forecasting annual compound returns of less than 1% for the next 10 years, said Mr. Blanchett, speaking at the InvestmentNews‘ Retirement Income Summit in Chicago. While things will rebound eventually, financial planners need to assume low returns for the near future. There’s a good chance some years may see
‘Forever’ Stamps Will Soon Cost 55 Cents Increase is one of many postal price changes in 2019 by Sarah Elizabeth Adler, AARP, January 4, 2019 Getty Images Say hello to new postage prices in 2019 — and consider stocking up on stamps now. Starting Jan. 27, the U.S. Postal Service is rolling out updated mailing and shipping rates, including a 10 percent increase in the cost of ‘forever’ stamps, from 50 to 55 cents. Percentage-wise, that’s the biggest jump in more than two decades The price hike comes after a year of revenue troubles for USPS, which reported a net loss of
Loans, unemployment insurance available to some furloughed feds By Sherkiya Wedgeworth, Jan 02, 2019 Short-term loans, unemployment insurance and hardship loans for qualifying employees are being offered to many federal employees currently not receiving pay due to the partial government shutdown. The Federal Employee Education and Assistance Fund offers hardship loans for those employees suffering from emergencies while under furlough, such as illness, death of a family member or loss due to a sudden tragedy, such as a fire. “FEEA’s heart goes out to the 800,000 federal workers currently furloughed or working without pay,” FEEA said in a news release. “While we wish
Contract Expires for 200K Postal Workers, Negotiations Extended a Month By Eric Katz September 21, 2018 The U.S. Postal Service’s contract with a union representing 200,000 employees expired on Thursday, but both sides agreed to extend their talks one more month to reach a new agreement. The clerks, mechanics, drivers, custodians and other workers represented by the American Postal Workers Union will remain covered during the extension under the benefits and protections of the existingcollective bargaining agreement, which went into effect in 2016. The two sides began negotiating in June and did not give an indication as to whether they were closing in
TSP Board Approves 16 Percent Increase in Budget By Erich Wagner September 17, 2018 The board overseeing the federal government’s 401(k)-style retirement savings program voted unanimously Monday to approve a $360.6 million budget for fiscal 2019, a 16 percent increase over current spending. There are a number of drivers behind the plan to increase spending on the Thrift Savings Plan from fiscal 2018’s level of $309.7 million, chief among them a significant influx of participants from the uniformed services following the launch of the Blended Retirement System. Since that system went live in January, more than 250,000 service members have enrolled in