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The IRS recently released Notice 2023-75 to announce cost-of-living adjustments to the indexed dollar limits applicable to retirement plans. Increases are more moderate than in recent years...
A select set of employees and self-employed people can expect to pay more to Uncle Sam.
Social Security faces a crisis in 2034, when its main trust fund is projected to become insolvent, potentially resulting in significant cuts in benefits. Simple demographics play a major role in the problem, as the massive baby boomer generation continues to retire and fewer young workers pay into the system. But according to one expert, rising income inequality also plays an important role in the funding crunch. Stephen Goss, the chief actuary of the Social Security Administration, told attende
The governor’s signing today of this legislation is now law and will be effective January 1, 2024.
Cook County Board President Toni Preckwinkle applauded the Illinois General Assembly on passing pension reform legislation to ensure the County can fully fund its pension obligations.