Jamie Grill | Blend Images | Getty Images 46,000 plans Though the overall share of firms that made changes is relatively small, it amounts to tens of thousands of 401(k) plans that have reduced the benefit for employees, according to Will Hansen, the group’s executive director. There are about 572,000 401(k) plans in the U.S.,
Month: December 2020
The coronavirus pandemic has made some of the richest people in the world richer, and one of those people is MacKenzie Scott, the ex-wife of Amazon boss Jeff Bezos. When the couple divorced in 2019, Bezos transferred 25% of his Amazon stock holdings to Scott. At the time, that left her with a net worth
The Securities and Exchange Commission on Thursday charged Robinhood with deceiving customers about how the stock trading app makes money and failing to deliver the promised best execution of trades. Robinhood agreed to pay a $65 million civil penalty, without admitting or denying SEC’s findings. The Silicon Valley startup, which has eventual plans to go public,
LifestyleVisuals | E+ | Getty Images Yes, Medicare’s annual enrollment period ended Dec. 7. No, not all hope is lost if you realize the Advantage Plan you picked for 2021 is a mismatch. That’s because Medicare has a three-month window at the beginning of each year, Jan. 1 through March 31, when you can swap
Robert Johnson, founder of Black Entertainment Television, told CNBC on Thursday that he hopes the Republican party keeps control of the U.S. Senate in order to provide a counterbalance to proposals from Democrats. “I think balanced government, where each party has a chance to put in their best ideas and propose their best solutions is
getty It might have been a hard year, but if you’re lucky enough, you might still find a little year-end bonus in December’s paycheck. Before you get too excited, though, don’t forget the lesson learned from that holiday classic Christmas Vacation. “Don’t spend it before it has been paid,” says Steve Parrish, Co-Director of the
Congressional Progressive Caucus members Rep. Pramila Jayapal, D-Wash., center, accompanied by Rep. … [+] Ilhan Omar, D-Minn., and Rep. Mark Pocan, D-Wis., speaks during a news conference on the targeted killing of Iran’s senior military commander Gen. Qassem Soleimani on Capitol Hill, in Washington, Wednesday, Jan. 8, 2020. (AP Photo/Jose Luis Magana) ASSOCIATED PRESS The
Music aficionados would be hard pressed to find a more historically relevant spot for living the high life in New York City than the apartment once occupied by renowned composer, conductor and pianist Leonard Bernstein. Set within less than two miles of both Lincoln Center and Carnegie Hall, the two-story trophy property is perched atop
SINGAPORE — The rollout of Covid-19 vaccines in Singapore will help the economy to recover — but will not take it back to what it was before the pandemic, the country’s Minister for Foreign Affairs Vivian Balakrishnan said on Thursday. “I think we should talk about a new normal. So yes, there will be recovery
Institutional Investor Hall of Famer Richard Bernstein sees a risky market dynamic. He’s questioning why so many investors prefer momentum names in technology when the economy is getting ready to boom. “The whole innovation disruption thing is becoming a sucker’s bet,” the Richard Bernstein Advisors CEO and CIO told CNBC’s “Trading Nation” on Wednesday. “Fundamentals
For over two decades, Najuma Atkinson worked her way up at Dell Technologies and broke barriers — Atkinson started as a tech support manager in 1999 and, today, she is senior vice president of human resources shared services and the only Black woman SVP at the company. One of the most important things she has
Stock trading app Robinhood is being accused of reckless, exploitive business tactics on its young, millennial clientele. “The worst aspect of what they do clearly is they way they are gameifying the idea of investing,” Massachusetts Secretary of the Commonwealth William Galvin, who filed the compliant, told CNBC’s “Squawk Alley” Wednesday. “This is a very
Hermione Granger | Moment | Getty Images Bitcoin has done it again — the cryptocurrency topped $20,000 Wednesday to reach its second record in three weeks and its highest level since 2017. The digital currency has been on a tear this year and is now up more than 180%, driven in part by new institutional
Providence Mayor Jorge Elorza has stated that the city’s Actuarially Required Contribution to the … [+] pension system each year is “unsustainable” and that he fears the city may need to file for bankruptcy in the future if it doesn’t alter pensions or receive an infusion of cash to stabilize its pension system. Boston Globe
Should I sell my cryptocurrency before the year-end or after the year-end? The US tax system works on a calendar year. This means the taxes due for your financial activity between January 1, 2020 to December 31, 2020 will be due by April 15, 2021. Taxes due for your financial activity between January 1, 2021
The housing market is largely being driven by a shortage of available housing inventory and … [+] extremely low-interest rates. Xinhua News Agency/Getty Images The housing market has been on fire this year with record-low mortgage rates and a sudden wave of relocations made possible by remote work. Meanwhile, home prices have continued to push
Adidas CEO Kasper Rorsted told CNBC that the German sportswear company will continue to invest in brick-and-mortar stores, despite the boom in e-commerce sales during the coronavirus pandemic. “There’s no doubt that online has accelerated two to three years into the future … but I actually think if you asked most people, there’s a big
U.S. stock futures were flat on Wednesday night as traders kept an eye on Washington, looking for clues about the prospects of additional fiscal aid. Dow Jones Industrial Average futures gained just 13 points, or 0.04%. S&P 500 and Nasdaq 100 futures also rose marginally. Earlier in the day, congressional leaders closed in on a
I’ve been a shopping expert by trade since 2011. I got my start writing budget-friendly content as a freelancer for a few different websites, then served as the consumer spokesperson for a deal site for three years. After I was laid off in 2015, I set off on my own. So I talk about shopping
The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday. The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in
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