News

A labor dispute is currently underway involving the United Auto Workers (UAW), a union representing approximately 145,000 employees in the automotive industry.

Five New York City’s pension funds, have joined forces with the state of Oregon to file a shareholder derivative lawsuit against Fox Corporation. This legal action accuses the media conglomerate of failing in its Fiduciary duty to shareholders by repeatedly broadcasting falsehoods regarding the 2020 presidential election. The pension funds represent approximately 572,946 shares of Fox Class A stock and 285,338 shares of Fox Class B stock worth, valued at $27.7 million as of August 31, 2023. These funds represent nearly 800,000 current and retired workers and worth a staggering $253 billion.

In a significant move that could impact the retirement savings of millions of Americans, President Joe Biden recently issued his first veto, rejecting a bipartisan bill aimed at preventing investment fund managers from injecting their political biases into investment decisions. This decision has raised concerns among workers and retirees, as it allows fund managers to consider a company's environmental, social, and governance (ESG) score when making investment choices. This article will delve into the implications of Biden's ESG rule and provide practical steps to protect your retirement savings.

September holds a special significance for Social Security recipients in the United States, For one, at the end of this month, US Inflation data collection will be concluded and , which is instrumental in determining the cost-of-living adjustment (COLA) for the upcoming year. The latest estimates of 2024 COLA can be found here. Secondly, and of particular interest to certain Social Security beneficiaries, September brings the issuance of not one but two checks.

In contrast to the previous year, the overall inflation rate in July has seen a notable decrease. However, a recent survey conducted by TSCL indicates that many older Americans still struggle with consistently high prices, impacting their household finances.

The Internal Revenue Service (IRS) has made a significant announcement that will impact retirement planning for both employers and employees. Under the SECURE 2.0 legislation, there was a looming requirement for Roth catch-up contributions. These contributions were to be mandatory for workers earning $145,000 or more per year who wished to make catch-up contributions to their employer-sponsored retirement plans, such as the ubiquitous 401(k). However, in a move that brings relief to many, the IRS has decided to delay this requirement by two years. Now, individuals have until 2026 to comply with this provision.

Lawyers representing Usain Bolt, the legendary 36-year-old retired sprinter, revealed in January 2023 a startling financial scandal surrounding a private investment firm in Jamaica. 

US labor department has released the data for Unemployment claims for the week ending August 26, 2023.