Category Archives: Congress is Considering
A new push for retirement savings
Some new and some renewed proposals are circulating congressional desks that hope to increase Americans’ participation in IRAs and retirement plans, the most significant of which is an automatic IRA enrollment. Employers that don’t offer retirement plans will be required to offer workers an option to have money automatically deducted from their paycheck and deposited [...]
Legislators to Cap Credit Card Interest Rates
New legislation was introduced yesterday that aims to put a cap on the fees ($15) and interest rates (16%) that credit card companies can charge their customers. Of course there’s going to be a lot of resistance from credit card companies, but is this really what we need? Wouldn’t an informed consumer be better able [...]
Congress Considering: Bill Proposed to Change Retirement Plan and Disclosure in favor of the Participant
6/23/2009 Introduced. This legislation amends the ERISA rules (that govern retirement plans) to keep the relationship between the employer and the plan provider at an arm’s length. It will provide special reporting and disclosure rules to make fee structures more transparent to the participants. The bill limits the services that can be offered, the types [...]
Congress Considering: Bill Aims to Make Financial Literacy a Curriculum Goal
We are facing the worst financial crisis since the Great Depression, in large part because of irresponsible financial practices that led to the subprime mortgage market’s collapse. To help protect our families from future crises, we need to empower people to make intelligent financial decisions. The key is financial literacy education before students enter the [...]