Page 748 - Pensions News Today

Notice of a new addition to the tax code, section 401(k) offered workers a tax-freeway to defer compensation from bonuses and stock options. when a benefits consultant suggested companies extend those benefits to retirement savings accounts, the idea took off. as originally conceived, these new 401(k) retirement plans were meant to complement worker pensions. but then companies looking for an easy way to save a buck, started shifting their workers into 401(k)s and away from pensions. for workers...

Not the democrats. thats who i expected to come after our money. after all, here is what brady and co want to do, they want to move up tax receipts. they want you to pay taxes now on your 401(k) savings. i say thats wrong. any change to the 401(k) will dissuade people from saving. you want it take away my ability to save, but youre not giving me anything else to help me out. i think its a tragedy and a big mistake. liz: its infuriating, is it not, michael? the 401(k) is sort of that last little ...

Tax, cutting taxes for the richest of the rich and corporate tax reform, the thing thats stunning is anything for middle income people is trickle down hope. no hard benefit. when sarah huckabee sanders says on twitter americans are going to get $4,000 to $9,000, dont you want that? show me can in writing where theyre going to get that. theyre not. its an assumption. >> if i have ten people and give one person $1,000 and nine people zero, you can average it out, but nine people got zero dollars. ...

Themselves and move into a 401(k). i had the co-sponsor in the bill that would take all public employees, at least elected officials, out of the system where theyre getting pensions. so move them into a 401(k) status. so 401(k)s are important. theyre good for savers and americans thinking about their future. we want to move in that direction and protect and preserve that. >> neil: thanks, congress woman. >> thanks so much. >> neil: the white house says if there was collusion with russia, ive has...

Not personally in favor of getting rid of the 401(k)s. but the house is putting a bill together and then that -- >> okay, even though two days ago on twitter, i said there will be no change to your 401(k). look. youre either a person of your word or youre not. but let me go to you, robert. how big of a hit would this be? to the middle class? >> huge. 55 million americans depend on 401(k) plans ifs their savings. and context, its important to understand that it used to be b that people had pensio...

Theyre not going to get rid of it altogether. that means they have to make up a bunch of cash. theyre short of cash. >> does that explain -- i mean this 401(k) reporting, we havent done a deep dive but "the new york times" has been reporting this weekend that theyre talking about instead of putting $18,000 in your account every year, you can only put $2,400. that does seem like a real hit for middle class families who have no pensions. our system has changed to be focused around this. >> this is...

You know being or having being a member of the european union im talking about the liabilities for e.u. pensions for example and you know the e.u. is the stronger part here in those negotiations its like in a divorce where one partner really has much more resources or money. whatever you know the instances between the two sides are there is often one side which is stronger and before i let you go conrad talking about photo opportunities just give me your friday face. fridays face is quite optimi...

Were going to see the bipartisan and lamar alexander is working on it very hard from our side, and if something can happen, thats fine. but i wont do anything to enrich the insurance companies. right now the insurance companies are being enriched. theyve been enriched by obamacare like nothing anybody has seen before. >> the president ought to make up his mind. he keeps changing his mind on issue after issue, and that shows an appalling lack of leadership. now he said today it would benefit the ...

Economy seems to be making some strides towards recovery albeit slowly thats the good news but the bad news much of the country hasnt noticed a third of greeks are at risk of poverty and retirees are feeling it most some are losing their homes because they cannot live on their incomes their pensions are meager because theres too little money in the state coffers too many people avoid paying taxes. which results in a loss of more than ten billion euros in taxes a year to change that the governmen...

Evaluating several spots that are harmful. chemical cale tainted water source on the northern coast of puerto rico well put that out on our facebook page. the other thing weve been hearing this week is money. this notion that rather than receiving grants which is what is going to texas and florida, that puerto rico should have to get loans. >> right. >> that again is a double standard of how people in virgin islands are being treated. were getting loans as opposed to grant assistance. puerto ric...