More employers are automatically enrolling their employees in retirement accounts, and they're contributing a higher percentage of their employees' salaries to do so.
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About 35% of employers are enrolling new workers in 401(k) plans, according to 2019 fourth quarter data from Fidelity Investments, which analyzes its customers' investing and saving trends. Typically, the default rate for automatic contributions into 401(k) plans hovers around 3%, but more than a third of plans in the fourth quarter had default rates around 5% or 6%, according to the report, which was released on Thursday. Only about 12% of plans used that rate in the fourth quarter of 2009.
Many things are taking place:
5 Reasons Why You Should Get A Money Market Account | Bankrate
A money market account, or MMA, is a type of savings deposit account found at banks and credit unions. These lesser-known accounts walk the line between savings and checking accounts, offering some of the best features of both. MMAs offer safety, accessibility and a decent rate of return.
But there are some differences. For instance, money market accounts may carry a higher minimum balance requirement than savings accounts. In exchange for the higher balance requirement, MMAs can offer a higher rate of return as well.
Alabama Lawmakers speak about Pentagon moving money from Mobile | WPMI
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Tesla Capital Raise Keeps $14 Billion Virtuous Circle Rolling
(Bloomberg) -- Elon Musk dreams big dreams. Tesla Inc. taps Wall Street for funds to turn them into reality. Banks pocket millions in fees. And rather than punish the company for diluting its shareholders, the market applauds.
The virtuous circle has enabled Tesla to raise about $14 billion over the last decade, supporting the electric-car maker through countless ups and downs. News of the latest offering -- which priced at $767 a share, according to a regulatory filing -- boosted Tesla's market capitalization to almost $146 billion, behind only Toyota Motor Corp. among the world's most valuable auto manufacturers.
In case you are keeping track:
New Illinois law gives every child born after 2021 money for college | wqad.com
ROCK ISLAND, Ill. — Starting Jan. 1, 2021, every child born or adopted in the state of Illinois will get $50 deposited in their college savings account or 529 plan.
It's part of a new law, which introduces the Illinois Higher Education Program. Local Quad City financial experts say the cost to attend college keeps going up 5 to 6% each year. State legislators passed this law to combat those rising college tuition costs, and lawmakers hope it will remind parents to contribute to their child's college fund starting at birth.
Beware of romance scammers pulling on your heartstrings for money | Call 4 Action | wsmv.com
Financial cheating: Millions of Americans keep money secrets from spouses
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A new survey found many couples are being unfaithful when it comes to money. Creditcards.com surveyed 2,500 Americans in serious relationships. They found 44% admitted to committing "financial infidelity."
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"Financial infidelity usually takes one of three forms: It's secret debt, secret accounts, or it could be secret spending," he said.
Rossman says 34% admit to spending more money than they feel their partner would be comfortable with, 17% have kept a secret account, and 12% carried secret debt.
For the love of money: How romance scammers drain bank accounts and break hearts
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ROANOKE, Va. – February is the season of love, but it can also be the season of scams if you aren't careful.
Romance scammers use the promise of love to eventually swindle people like Diane Standish out of their money.
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Standish said the scammer, who she had only talked to online, eventually made off with $270,000 from her.
Better Business Bureau of Western Virginia Director Julie Wheeler said these dating scams are more common -- and more costly -- than you think.
Happening on Twitter
The First Amendment protects your right to speak anonymously about your employer https://t.co/C1pSXB6t1J EFF (from San Francisco, CA) Wed Feb 12 23:13:39 +0000 2020
See also: the obligatory Huawei debriefing for any employees joining from FAANG, asking about the internal security… https://t.co/zj9ImzYusw lizthegrey (from Brooklyn, SF, Seattle, & ✈️s) Thu Feb 13 19:57:14 +0000 2020
Buttigieg still secretly supports Medicare For All and the elimination of employer-sponsored health care. His and… https://t.co/6cNNUs7L6Q AndrewHClark (from Washington, DC) Thu Feb 13 20:35:41 +0000 2020
Hiring an #apprentice is a productive and effective way for any organisation to grow talent and develop a motivated… https://t.co/hyU192Rt2A Apprenticeships (from England) Fri Feb 14 08:30:28 +0000 2020
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