Social Security Q&A: Explaining How Retirement Benefits Are Calculated
Question: How are my retirement benefits calculated? Answer: Your Social Security benefits are based on earnings averaged over your lifetime. Your actual earnings are first adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average monthly indexed earnings during the 35 years in which you earned the most. Social Security applies a formula to...
5 Credit Report Myths You Need To Know
If you think the credit reporting process is complicated and too hard to understand, you’re absolutely right. With several different credit bureaus, countless credit reporting laws and rules, and more than a handful of websites advertising “free” credit reports and scores, it can be hard for the average consumer to fully comprehend what goes into a credit report, how the information is reported and how it can affect a credit score. As...
Jobs Numbers Help to Dispel Recession Fear
Washington — A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface. Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports. But last month, U.S. employers sent a clear message of confidence. They...
Report: Rail Safety Failing
Washington — Federal regulators are failing to refer serious safety violations involving freight rail shipments of crude oil and other hazardous cargo for criminal prosecution, and are going lightly on civil fines, according to a report released Friday by a government watchdog. The Federal Railroad Administration routinely applies only modest civil penalties for hazardous materials safety violations, even though inspectors request...
Stocks Lose Ground As Jobs Report Disappoints Market
New York — Stocks posted steep losses Friday, ending the week with broad declines, as investors fretted over a report showing that U.S. job creation slowed last month. Technology stocks fell especially hard, and shares of LinkedIn had their worst day in history. Energy and consumer discretionary stocks fell as oil prices declined and investors continued to worry that the risk of the U.S. economy slipping into recession, while low, is...
