If your employer declares bankruptcy, how might that affect your 401(k) and profit sharing retirement plans? In a Chapter 11 reorganization, the company stays in business and your pension should be safe. The Employee Retirement Income Security Act of 1974 (ERISA) requires that companies keep pension assets separate from the corporate assets to protect them… Continue Reading
Category Archives: IRA Fees
U.S. Bank Announces Increased Fees
Saving for retirement just got more difficult if you maintain IRA accounts at U.S. Bank. U.S. Bank recently announced an increase of its annual fee for IRA accounts from $10 to $30. The bank previously waived the $10 annual fee for accounts with a minimum balance of $5,000. Under the bank’s new terms, the $30 fee is… Continue Reading