In response to concerns over the adequacy of retirement savings, Congress has created incentives to encourage individuals to save for retirement through a variety of retirement plans. Some retirement plans are employer-sponsored, such as 401(k) plans, and others are established by individual employees, such as Individual Retirement Accounts (IRAs). This report describes the primary features … Read more
Social Security provides monthly cash benefits to retired or disabled workers, their family members, and family members of deceased workers. Many people of all ages have some connection to the program, including an estimated 178 million covered workers and approximately 64.5 million beneficiaries in 2020. The program’s income and outgo are accounted for with the … Read more
Should I Defer My Social Security Payout? Social Security’s income and outlays are accounted for through two federal trust funds: the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund. Under their intermediate assumptions and under current law, the Social Security trustees project that the DI … Read more
State Taxation of Internet Transactions, CRS Report R41853, May 7, 2013 (24-page PDF) The Federal Budget: Issues for FY2014 and Beyond, CRS Report R43068, May 9, 2013 (28-page PDF) Crime and Forfeiture, CRS Report 97-139, May 13, 2013 (97-page PDF) 501(c)(4)s and Campaign Activity: Analysis Under Tax and Campaign Finance Laws, CRS Report R40183, May … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Unemployment Rate / Employment-Population Ratio Unemployment and the Unemployment Rate As defined by the Bureau of Labor Statistics (BLS), the number of people who do not have jobs but have actively looked for work in the prior 4 weeks and are currently available … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Deflation / Inflation / Real Dollar Whip Inflation Now (WIN) Deflation: A sustained decrease in the general price level. Deflator: An index used to adjust a current dollar amount to its real dollar counterpart, that is, to remove the effects of inflation. Inflation: A rise … Read more
This is a bailout in the making. And as Atrios commented this morning: “It wouldn’t surprise me if the PBGC starts getting as hungry as the FDIC.” PBGC To Assume Delphi Pension Plans Unfunded and underfunded pensions are going to become a very big problem in the near future. In August, we will publish “Underfunded … Read more