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Here's The Real Problem With Labor Unions

Topics: 401(K) Plan, Bankruptcy, Contract, Management, Outsourcing

As everyone should know by now, my main concern with unions is specifically with public unions. While I do not care for unions at all, and never have, at least with private unions, someone other than corrupt politicians buying votes is bargaining at the other end of the table. In the case of public unions, if politicians strike a bad deal, taxpayers foot the bill. In the case of private corporations, if management strikes a bad deal, the company goes bankrupt, shareholders take a hit, or the jobs move elsewhere, as soon as the contract is up. Except in few…

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Planning for the sunset: Defined benefit retirement plans

Topics: 401(K) Plan, Consultant, Limited Liability Company, Loan, Planning

Why a defined benefit plan can help a small business owner be ready now for retirement later By Christopher Freeburn While many small business owners may hope to fund their retirement through the sale of their business to employees or partners, for most small businesses that simply isn't a realistic option. Furthermore, with ever-greater numbers of people launching their small businesses as a second career, many small business owners are facing the prospect of looming retirement with relatively few years to contribute to their 401k plans. The same problem looms in the minds of professionals who have spent years slowly…

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Consumer Reports: How To Beat 4 Threats to Your Retirement

Topics: 401(K) Plan, Insurance, Planning, Qualification

The path to retirement is never perfectly smooth, and in these uncertain times you should probably expect to hit some roadblocks on the way. What can go wrong? Plenty. Your employer can freeze its pension plan, leaving you with a shrunken benefit, or cut its retiree health benefits, dashing your dream of retiring early. The stock market can tank, decimating your savings. After you retire, inflation can eat away at the buying power of your money. Many workers (20% in fact) in private industry participate in pension plans, and 19% of them are in frozen plans, according to the Bureau…

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Stop! 5 Reasons Not to Touch that 401k

Topics: 401(K) Plan, Human Resources, Loan, Management, Termination

Suzanne Lucas spent 10 years in corporate Human Resources. She's hired, fired, and analyzed the numbers for several major companies. She founded the Carnival of HR, a bi-weekly gathering of HR blogs, and her writings have been used in HR certification and management training courses across the country. This is an HR column, not a financial one, but I just read that Fidelity is reporting that 22% of their 401k clients have taken a loan against their 401k accounts. Stop and think about that. These are people with jobs who are taking out loans. Not, people who are unemployed looking…

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Another Editor Bemoans AOL's Patch Labor Practices

Topics: 401(K) Plan, Contract, Freelancer, Insurance

A week ago, we published some responses from staffers at AOL's Patch, who wanted to chime in about recent claims that editors at the hyperlocal venture are subject to unreasonable workloads given their roughly $40K salaries. Here's another letter we received. This one comes from someone who had taken a job as a copy editor at Patch, and who wished to remain anonymous: I was hired at Patch to be a copy editor. They recruited me through LinkedIn. I ended up quitting at the get-go because I found their contract to be completely inappropriate if not against fair labor practices.…

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How to Bring Your Concept to Market

Topics: 401(K) Plan, Sales, SCORE, Small Business, Social Media

You have moved past the stage in which you have a brilliant business concept; and, you are no longer in the product development phase, where you do the pre- and post-prototype. You have tested your concept by conducting online surveys, focus groups, trade show demonstrations or through some other means to determine if potential customers will buy your product or service. You have refined your concept based on reliable feedback. Now comes the business development, which means you are all geared up to start manufacturing, marketing and selling your product or offering your service. "I started out with a concept…

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