Many workers believe pensions are key to achieving the American Dream

A United Auto Workers union member holds a sign outside the Stellantis Sterling Heights Assembly Plant to mark the beginning of contract negotiations in Sterling Heights, Michigan, on July 12, 2023. Rebecca Cook | Reuters Many Americans long for the days when companies guaranteed workers income in retirement. That includes Sara Schambers, a fourth-generation Ford … Read more

What to know about insurance coverage for weight loss drugs and costs

Many U.S. companies are grappling with health insurance coverage issues for workers when it comes to GLP-1 drugs for weight loss. Despite the hefty price tag — typically between $1,000 to $1,500 a month — consumers are clamoring for drugs like Novo Nordisk‘s Wegovy and Eli Lilly‘s Zepbound. This class of drugs, historically used to … Read more

Money and job search moves

Jackyenjoyphotography | Moment | Getty Images The start of 2024 has not been kind to workers in industries that opened the year with layoffs. Google has cut several hundred jobs in its central engineering, hardware and assistant teams. Amazon is shedding hundreds of positions across its Prime Video, MGM Studios, Twitch livestreaming and Audible divisions. … Read more

2023 layoffs will continue to affect workers in 2024, report says

2023 was a year of layoffs. Over 305,000 U.S. workers were laid off over the year in a series of mass layoffs that started most notably with tech companies, but then spread across industries. “Many businesses had to make tough decisions to reduce their headcounts, especially with the economic uncertainty of early 2023,” Aaron Terrazas, … Read more

What to know about the Dec. 31 deadline

Tom Werner | Digitalvision | Getty Images As the calendar turns to a new year, you may be at risk for losing money if you have a flexible spending account. Many FSA owners have a Dec. 31 use-it-or-lose-it deadline to use the funds they have set aside for the year. The average forfeit of funds … Read more

How making student loan payments can help you save for retirement

With repayment of student loans starting again after a three-and-a-half year pause, college debt is top-of-mind for many borrowers who won’t be eligible for new relief plans from the Biden administration. That could come at the expense of saving for retirement, as paying down these loans can cause Americans, especially prime-working-year Americans, to forgo saving … Read more

Bank CEOs show support for SSI reform bill

Morsa Images | Digitalvision | Getty Images Current SSI asset limits ‘lock people in poverty’ Current SSI asset limits are extremely low — $2,000 for individuals and $3,000 per couple. Those thresholds apply to all kinds of assets, including cash, bank accounts, investments and household goods. Beneficiaries who go over the limits are suspended or … Read more

Social Security benefits for workers who have pensions may be reduced

Richard Stephen | Istock | Getty Images When Joyce Debnam’s husband passed away, she began receiving $1,400 a month in Social Security survivor benefits. Eight months later, that income unexpectedly changed. The trigger: Debnam retired from her job at the United States Postal Service in 2013 after four decades of service. That life change prompted … Read more