Money
Are You Spending Down Your 401(k)? GAO Investigates Other Countries' Experiences That Offer Lessons of Spend-down Options
Strategies used by other countries include (1) communicating spend-down options to participants in an understandable and timely manner, and (2) helping participants see how their savings would translate into a stream of income in retirement by providing them with projections of retirement income in their annual benefit statements. Currently, 401(k) participants have difficulty predicting how long their savings will last because most benefit statements do not focus on the stream of income it can generate. more »
The Heart Breakers Strike: Esther Peterson, A Driving Force Behind the Equal-Pay Movement
Labor Secretary Perez inducts Esther Peterson into the Labor Hall of Honor on Tuesday, Dec. 10th, and Council of Economic Advisors’ Betsey Stevenson will moderate a panel on the status of women in the 21st century workforce. A live webcast of both events will be available at http://www.dol.gov/dol/media/webcast/live/ and recognize the 50th anniversary of the American Women report produced by JFK's Commission on the Status of Women, of which Peterson was Executive Vice Chairman. more »
How Do We Protect Private Information? Consumer Privacy Framework Needs to Reflect Changes in Technology & the Marketplace
In many circumstances, consumers also do not have the legal right to control the collection or sharing with third parties of sensitive personal information (such as their shopping habits and health interests) for marketing purposes. As a result, although some industry participants have stated that current privacy laws are adequate – particularly in light of self-regulatory measures under way – GAO found that gaps exist in the current statutory framework for privacy. more »
Look Ahead to November: Marijuana, Gambling, Reverse Mortgages, Minimum Wage and GMOs on the Election Ballot
New Jersey could become the 11th state with a minimum wage that increases automatically if voters approve a constitutional amendment this fall. More states are adopting minimum wages that are indexed to inflation or increases in the cost of living. Arizona, Colorado, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington already have such policies, and in all of them except Vermont the moves were approved at the polls. more »