Employers are squeezing their workers’ retirement savings, holding back on both the amount and the timing of 401(k) matching funds and dragging out vesting schedules. Taken together, these measures are making it more difficult to save for old age.
President Barack Obama’s new retirement accounts lack the most popular features of 401(k) plans. They offer no matching contributions, no prospect for eye-popping returns and no track record of employer support.
Nokia Oyj’s preliminary victory in its efforts to collect royalties from Taiwanese phonemaker HTC Corp. will be reviewed by a U.S. trade agency with the power to keep the smartphones from entering the country.
Eighty-seven-year-old Lew Manchester has just returned from a three-week trip touring Buddhist temples in Laos and cruising the Mekong Delta in Vietnam. His 61-year-old daughter Lee lives year-round in the basement of her friend’s Cape Cod cottage, venturing into the winter cold to get to the bathroom.
A group of House Republicans said seniors lobby AARP will gain as much $1 billion over the next decade from the 2010 health care overhaul it supported and should have its tax-exempt status investigated.
Peggie Theodore, 56, landed a job as a staffing assistant at the National Institutes of Health in January after a six-month search. Even earning less than she did in the Navy, she says she’s just happy to return to work.