The act covers retirement benefits including pensions, profit-sharing plans, employer-sponsored individual retirement accounts (IRAs) and 401(k)s; welfare plans like health, dental, disability, and life insurance; health care plans offered through employers; as well as scholarship funds, vacation, and severance pay. In the case of termination, fund mismanagement, or fiduciary wrongdoing, ERISA guarantees payment of benefits through the federally chartered corporation, Pension Benefit Guaranty Corporation (PBGC). It also allows plan participants to sue through a grievance and appeals process to obtain their benefits....

Alternate names: house-to-income ratio, front-end DTI ratio, PITI ratio How the Housing Expense Ratio Works The housing expense ratio is one of the important income-related data points that lenders look at carefully to make sure a borrower has enough stable income to afford their loan obligations. Aspiring homeowners should get a sense of their housing expense ratio to learn how much home they can afford. A good rule of thumb: Most conventional lenders prefer to see a housing expense ratio of 28% or less....

Because of its focus on assets that are immediately available to meet short-term obligations, the quick ratio is also known as the “acid test ratio.” The formula for calculating the quick ratio is quick assets/current liabilities. Quick assets are a subset of current assets that can more readily be converted into cash with minimal loss in value. Examples of quick assets include cash, marketable securities, and accounts receivable. Quick assets can also be thought of as current assets excluding inventory....

How Much Does the Car Itself Cost? In July 2020, the industry-wide average cost of a brand-new car totaled $38,378, according to Kelley Blue Book. That’s a lot of money. Of course, the average consumer isn’t buying a new car every time they flip a page on the calendar, so the car’s cost is amortized over the length of time you own the car. According to research by R.L. Polk, the average length of time drivers will keep a new vehicle is 71....

Here is some insight into when you need to provide your work history to employers and how to provide it, along with tips for building your resume. What is Your Work History? When you apply for jobs, companies typically require that applicants provide their work history, either on their resume, on a job application, or both. When You Need to Provide Your Work History A job application may ask for information on your most recent jobs, typically your last two to five positions....

Lying on your resume (or during a job interview) is a bad idea for many reasons, not the least of which is that you’re likely to be found out. From the initial background check to the multiple meetings that make up the interview process, there are just too many opportunities to reveal that you’ve been less than truthful. Even if you make it through and get hired, you’re not off the hook....

If a company ends the contract before the two-week notice period is up, is the employee still entitled to full pay? State labor laws differ on notice-period compensation. In most cases, employers are only required to pay employees for the days they work, not the days they intended to work. The exception to this rule is when employment contracts, policy manuals, or collective bargaining agreements contain specific clauses on resignation pay and notice....

So where does that leave you if you’re a customer? You won’t lose your account status or assets since Simple is owned by BBVA USA, the FDIC-insured bank that acquired Simple in 2018. For now, Simple account holders will go on using the app as usual and, later this year, BBVA USA will convert Simple accounts to BBVA accounts. What Will Happen to Current Simple Accounts? At least for the foreseeable future, it will be banking business as usual for Simple customers....

Learn how a car or truck becomes a salvage title vehicle, how states differ in expectations for restoring vehicles, and insurance coverage options for a salvage vehicle. What Are Salvage Title Vehicles? “Salvage” is an insurance and title status typically designated by insurance companies, in accordance with state regulations and the DMV. A car may become a salvage vehicle if damaged sufficiently by fire, flood, theft, collision, or other perils, such that it’s deemed to be a total loss....

You can enroll during the initial enrollment period, which begins near your 65th birthday and lasts for seven months. You can also enroll during the general enrollment period (Jan. 1 to March 31), but you may face late enrollment penalties. If you’re already enrolled, you can make changes to your coverage during designated open enrollment periods each year, depending on the type of coverage you have. But if you need to add or change your coverage outside of these times, you must qualify for a special enrollment period (SEP)....

Travel vs. Commuting Time Commuting is going back and forth to work. Everyone (at least everyone who doesn’t work at home) commutes to a job. Commuting time is personal time, not business time. The IRS does not allow businesses to deduct commuting time as a business expense, and employees should not be paid for the commuting time.  The Department of Labor (DOL) discusses employees who drive employer-provided vehicles. The DOL considers the time spent in home-to-work travel by an employee in an employer-provided vehicle, or in activities performed by an employee that are incidental to the use of the vehicle for commuting, generally is not “hours worked” and, therefore, does not have to be paid....

Current News There are three types of research areas to consider. The first is current news on commodities. The news is a real-time source for all of the breaking stories and reports related to commodities that will influence prices. Dow Jones, Reuters, Bloomberg, and other market platforms have commodity and futures news services that report almost every story you can imagine when it comes to the commodity markets. Many brokerage firms offer these services to their clients....

Bankruptcy affects people from all walks of life and all income levels. It affects married and single people, and age is no barrier. Seniors, as well as those just starting out in life, file for bankruptcy. Cases Filed in 2020 Statistics can often give us a picture of averages, but the actual spread is large. Let’s start with some basic figures for the numbers of cases filed, in this case for the year 2020....

Roadside Assistance for Emergencies For many of us, we will eventually have a problem where we need to call for help while driving. Of course, having a friend or family member come help us is often the best option. But it could also happen when we’re far from home, or it’s the middle of the night. Or, the issue could be so severe that we need professional help. There is nothing worse than being stuck somewhere and having a hard time trying to figure out who can come help....

The average American taxpayer received a tax refund of $2,815 in 2021. This increased to $3,305 in March 18, 2022, although final figures for the 2022 filing season won’t be available until the end of December. You’ve probably heard that you should change your withholding if big tax refunds have become an annual tradition for you. This would increase the size of your paychecks so you could save more money throughout the year without giving the government an interest-free loan....

If you’re asked to verify your FAFSA, don’t worry. It’s a common extra step in the student aid application process. Many students are selected for verification at random, and some colleges have a practice of verifying FAFSA data for all students. Here’s what to expect if your FAFSA is selected for verification and some tips to navigate the process. What Is FAFSA Verification? In short, your college does a verification to double-check the accuracy of the information you provided in your FAFSA....

The IRS sets an annual limit on Roth IRA contributions of $6,000 (or $7,000 if you’re 50 or older) for 2022. The limits are $6,500 and $7,500 for 2023. Maxing out your Roth IRA every year can help you build up a sizable nest egg, but it might not need to be your top financial priority. Should You Max Out Your Roth IRA Contributions? Whether or not you should max out your Roth IRA contributions depends on your individual situation....

Fundamental Analysis Is Irrelevant on Short Time Frames What appears on a company’s balance sheet isn’t going to matter much for a trade that lasts five minutes at most. A company can have awful financial statements, yet it can rally for months on end. It can be strong financially, with great earnings, yet the share price can drop like a rock some days. Fundamentals don’t matter on short-term trades. Anything can happen within the very short time of a day trade....

Klaus Vedfelt/Getty Images There’s also a standard Mastercard product available, which has limited perks—mainly theft protection, credit monitoring, zero-liability for fraudulent purchases, and emergency service. If you’d like to learn more, this guide breaks down the differences between the two most valuable Mastercards—the World Mastercard and the World Elite Mastercard. World Mastercard: How It Works World Mastercard credit cards do come with some travel benefits, as well as access to exclusive offers....

Of the more than 25 million payments distributed this week, over $26 billion worth went to people who collect Social Security benefits but didn’t file a 2020 or 2019 tax return or use the agency’s online tool for non-tax filers. Their checks had been delayed after the Social Security Administration (SSA) took weeks to provide payment information to the IRS, requiring Congress to step in. So far, the IRS has issued 156 million payments worth $372 billion under the latest round of stimulus checks, which pay up to $1,400 per person, including dependents....