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2017 brought good tidings for the economy, but what lies ahead?

The Disney character Uncle Scrooge McDuck must be happily swimming around in his money bin these days thanks to our economy in its record eighth year of expansion. While there is plenty to be anxious about today, most Americans can at least take some joy in the state of their financial affairs — a condition fundamentally attributable to we citizens having had the resources and leadership to preserve our financial system when it teetered on the brink back in ’08.

Benefit Insights: End of the Year Checklist

As the year-end approaches, our to-do lists can be lengthy. There are holidays to prepare for, employee performance reviews to complete, and, oh, wait, there is also the year-end data collection package from your TPA! We have once again reached that magical time of the year when you get to submit information regarding your retirement plan so your compliance services can be completed. While your TPA firm does the heavy lifting, the information you submit is the basis for accurate compliance testing. While not very exciting, this information is important.

Why the cost of running our government is worth every penny

French citizen Alexis de Tocqueville wrote the book “Democracy in America” back in 1835. To this day, it is still considered the best book describing the American political system and its social structure. The advantage de Tocqueville had was that he visited America and viewed our country as an outsider. Unlike us, he managed to see the forest in spite of the trees.

GOP tax plan could hurt homeowners, banks, real estate sector

With all the discussion about the Republican tax reform efforts, I have yet to hear any concerns about how the increased tax on mortgage interest and property taxes might affect current property values.

The real estate industry is on board with its army of lobbyists trying to minimize the possible damage, but the emphasis seems to be the effect on homebuyers.

“Where are all the customers’ yachts?” The trouble with TIAA investment products

The investment business is offering yet another example prompting us to ask, “Where are the customers’ yachts?” This is a reference to the famous question asked by a brokerage firm customer when he was shown the collection of yachts owned by brokerage firm founders.

This time around, the customers who should be asking the question are those in TIAA funds which command 40 percent of the retirement plan market for teachers, nonprofit employees and other participants in various 403(b) plans. These plans for nonprofits are comparable to 401(k)s.

Hornets’ nest: How the Republican tax-reform bill could affect middle-class Americans

When I was about 8 years old, I thought it would be interesting to throw rocks at a hornets’ nest to see what would happen. The result was a wall of hornets that hit me in the face. My head swelled up like a basketball within a few hours, and with eyes swollen shut, I was sightless for about a week.

Not for the faint-hearted: Wild, potentially lucrative stock market ‘snap-backs’

One of my favorite New Yorker cartoons depicted a fortune teller looking into a crystal ball. To her customer, beside whom a Labrador retriever sat with a baleful look, the woman predicted, “I see a 10-foot retractable leash in your future.” Similarly, it calls to mind a mental image of our stock market, which could be approaching the end of its leash.

How could the feds slashing your tax-free 401(k) contribution cap affect you?

To view the entire article on The Mercury News (a Bay Area News Group newspaper), click here.

 

As Republicans on Capitol Hill hammer out a tax reform bill, one controversial proposal would slash the annual amount Americans can sock away into 401(k) plans without being taxed until they retire. Do you have such a plan? Let’s look at how it would be affected.

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