Money Talk: Time for Son to Move His IRA

Question: My son has an IRA at his credit union. He puts in small amounts when he can. Recently the credit union lowered the interest rate and started charging a $25 yearly maintenance fee, which now is taking all the interest back. Is this legal? Answer: Yes. It’s also a good reason to move the account elsewhere. Your son’s retirement account was shrinking in real terms even before the fee ate up all his interest. Even though rates...

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Walgreens-Rite Aid Deal to Draw Scrutiny

Washington — Walgreens Boots Alliance Inc.’s deal to acquire Rite Aid Corp. is expected to draw antitrust scrutiny not only because the company would grow to 12,700 locations, but because of what goes on behind the scenes with drug payments. Antitrust experts say the Federal Trade Commission, which is likely to review the transaction, will look closely at whether the merging of the No. 1 and No. 3 pharmacy chains in the United States...

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What Customers Need To Know

Change is coming to local drugstores after Walgreens Boots Alliance Inc. said Tuesday it is buying rival Rite Aid Corp. for about $9.4 billion. The deal combines two of the nation’s largest drugstore chains, helping them to better compete in the rapidly consolidating health care industry. Drugstore chains face increased competition from mail-order pharmacy services and pharmacies inside grocery store chains. But what will it mean for...

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Trade Pact To Hit Floor Again Today

Washington — President Obama and top Republicans in Congress joined forces Wednesday on a quick, bipartisan rescue attempt for the administration’s trade agenda, left for dead in the House last week in a revolt carried out by Democrats and backed by organized labor. Officials said the Republican-controlled House would vote Thursday on a stand-alone bill to give Obama the enhanced negotiating authority the administration seeks as part...

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Money Talk: College Board Calculator Can Help Figure Aid, Costs

Question: My in-laws have gifted stock to our children through the Uniform Transfers to Minors Act, or UTMA, to help pay future college expenses. The value of the stock has increased significantly over the past few years. We would like to sell the shares and move the proceeds into more stable investments for our children. What are our options for those funds? Do you recommend one option over another? I don’t expect them to get much...

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