As inflation eases, rate cuts could come soonInflation eased more than expected in June, handing Federal Reserve officials another dose of encouraging data as they inch closer to cutting interest rates and giving long-awaited relief to households and businesses. Data released Thursday by the Bureau of Labor Statistics showed that prices climbed 3 percent compared with last year, an improvement from…
Read moreWhere the owner of a beach house alleged the defendant failed to procure sufficient insurance to cover a loss, the…
Can Boston become the hub of the “longevity economy”? Brooks Tingle sure thinks so. He has made it his mission…
Data: St. Louis Federal Reserve. Chart: Axios VisualsHuge numbers of Americans are leaving the workplace in a surprise second wave of the post-COVID retirement boom.Why it matters: An aging country — combined with a booming stock market and a nudge from return-to-office policies — means more working stiffs are preparing to exit the stage.What's happening: The U.S. has about 2.7…
Matt Sweeney, a spokesman for the comptroller's office, said the duplicate payments were due to an error that occurred while testing the state retirement system's "disaster recovery" procedures with its vendor bank that distributes direct deposits. The New York State and Local Retirement System handles pensions for retirees of both state and local…
WASHINGTON- The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report Monday. Meanwhile, Social Security's trust funds- which cover old age and disability recipients- will be unable to pay full…
Unless a ton of climate and weather scientists are wrong, the U.S. could be in for the worst Atlantic hurricane season ever. “This season is looking to be an extraordinary one,” said Rick Spinrad, administrator of the National Oceanic and Atmospheric Administration, Thursday morning at a briefing to announce NOAA’s predictions for the upcoming hurricane season, which starts…
Financial instability among a large portion of retirees and those nearing retirement in America is closely linked to a high reliance on the 401(k) retirement plans. This has been evidenced by recent research. While these plans have their advantages, they have shown certain inadequacies, as many individuals are unable to save enough to maintain their lifestyle post-retirement….
The Retirement Security Rule, recently approved by President Biden’s team, has sparked reactions across the investment advising community. While some view this new rule as a significant stride in solidifying the retirement safety of US citizens, others express concerns over its potential bureaucratic complications. This policy, crafted by the Department of Labor, insists that…
Insurance giant American International Group has struck a deal to sell a 20% stake in its majority-owned life and retirement arm Corebridge Financial to Japan's Nippon Life Insurance for $3.8 billion. AIG said on Thursday that it had agreed to sell about 120 million Corebridge shares to Nippon Life for $31.47 each, a premium of 4.3% over Corebridge's closing…
Dr. Brian Jeffrey Swann, who is on the board of directors for Remote Area Medical and practices dentistry in Tennessee, told a U.S. Senate committee about low-income people who drive from far distances to attend clinics where they can get their dental problems treated. (Screenshot from U.S. Senate webcast)WASHINGTON — Dentists from throughout the country urged Congress to include…
The Editorial Board's recent headline embodied what I have repeatedly said- neither President Biden nor former president Donald Trump has a plan to address the fast-approaching insolvency of Social Security and Medicare. It's likely Mr. Biden will try to tap the same well- Americans' paychecks- to keep Social Security funded. Neither candidate is willing to…
