Moving and Retirement

The ripple effects of a market collapse would be severe, and taxpayers would potentially be on the hook for losses posted by failed mortgage companies. In addition to loans backed by the FHA or VA, the government is exposed through Ginnie Mae, the federal agency that provides payment guarantees when mortgages are pooled and sold as securities to investors. The mortgage companies are supposed to bear the losses if these securitized loans go bad. But if those companies go under, the government “will probably bear the majority of the increased credit and operational losses,” the paper concludes. Ginnie Mae is especially vulnerable because almost 60 percent of the dollar volume of the mortgages it guarantees comes from nonbank lenders. more »

Sonya Zalubowski writes: I go into the bedroom, to check on Joey. He’s curled in a ball in his little bed. He only half-raises his head. Weaker than just a day ago. His nose is dry, hot. Sharp in my chest when I try to draw a deep breath. It hits me. The foolishness that I could even try to outrace both our maladies. That they won’t catch up with us before we reach the county line. That Joey would die in even more pain. That I will experience even more myself of the burning grind of my bone on bone hip. more »

GAO reported that from 2004 through 2013, over 25 million participants in workplace plans separated from an employer and left at least one retirement account behind, despite efforts of sponsors and regulators to help participants manage their accounts. GAO found that although an employer may incur costs searching for separated participants, there are no standard practices for the frequency or method of conducting searches.       more »

"Strong job gains in recent years have led to widespread reductions in unemployment across the income spectrum and for all major demographic groups. For example, the unemployment rate for adults without a high school education has fallen from about 15 percent in 2009 to 5-1/2 percent in January of this year, while the jobless rate for those with a college degree has moved down from 5 percent to 2 percent over the same period. In addition, unemployment rates for African Americans and Hispanics are now at or below rates seen before the recession, although they are still significantly above the rate for whites. Wages have continued to grow moderately, with a modest acceleration in some measures, although the extent of the pickup likely has been damped in part by the weak pace of productivity growth in recent years. more »