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Saving for retirement will get a modest boost in 2025 thanks to higher contribution limits and the phase-in of provisions stemming from the Secure 2.0 Act, which became law at the end of 2023.
Efforts to better target these benefits to the poor could have a substantial effect on elderly poverty while also helping contain the fiscal costs. However, increasing voluntary pensions and other private savings during working lives may pose a challenge, particularly for the low-skilled and less educated due to their lower earnings and ...
Irrespective of the path, the aim of policymakers should be to: create alternative policies that target the same issue as the original subsidies but better; develop subsidy removal strategies allowing market-discipline to return; introduce "sunset" provisions that require remaining subsidies to be re-justified periodically; and make perverse ...
The Social Security Fairness Act would repeal two federal policies — the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) — that reduce Social Security payments to ...
The following year, former President Barack Obama signed into law the Gabriella Miller Kids First Research Act, which authorized $12.6 million in annual funds for childhood disease research ...
The Butch Lewis Act is an act of the United States Congress that would allow the United States Treasury to provide financial assistance to failing multiemployer pension plans. [1] This assistance would come in the form of grants that would not need to be repaid to the Department of Treasury and would allow retirees to receive the entirety of ...
Trump’s plan to eliminate taxes on Social Security benefits would help current beneficiaries, but future recipients may be hurt by the move.
A cafeteria plan or cafeteria system is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code. [1] Its name comes from the earliest versions of such plans, which allowed employees to choose between different types of benefits, similar to the ability of a customer to choose among available items in a cafeteria.