Updates

General Electric is pulling the plug on its pension plan, and that’s a surefire way to derail workers’ retirement planning. GE GE, +0.72% announced earlier this month it was freezing pensions for 20,000 employees with salaried benefits in an attempt to reduce its $8 billion pension deficit, and that it would also freeze supplementary pension … more »

Workplace retirement plan investments ballooned in the last decade. The average 401(k) balance increased by more than 450% between 2009 and 2019, according to Fidelity Investments. Meanwhile, the average 401(k) return reflects the stock market volatility of recent years. Vanguard’s How America Saves 2019 report found that the median 2018 return was a 6.5% loss, … more »

If you’ve been considering a mortgage with an adjustable rate, your reasons for going that route might be disappearing. As recessionary fears cause longer-term interest rates to hover near or below short-term rates, the advantage that typically comes with adjustable rate mortgages has shrunk — or entirely disappeared — at some lenders. ARMs, as they … more »