The financial news that actually matters
Covers retirement planning, Social Security benefits, pension systems, and long-term financial security. It helps readers understand how to prepare financially for retirement.
Retirees who placed six-figure savings into annuities expecting ironclad protection face a sharp dividing line based on where they live. When an insurance company becomes insolvent, each state operates a guaranty fund that steps in to cover policyholders, but the standard ceiling sits at $250,000 per individual annuity contract. That cap leaves anyone with a…
A San Diego nurse practitioner kept billing Medicare for millions of dollars in mobile wound-care services even after she was locked up in federal prison on an unrelated sentence, according to federal prosecutors. Blanca Estela Cardenas and her daughter, Raquel Pasillas, were charged in a $9.5 million Medicare fraud scheme as part of the 2026…
Federal prosecutors have charged three people with billing Medicare more than $118 million for wound-graft procedures that were medically unnecessary or, in some cases, never performed at all. Leigh Tesar, Walter Presha Jr., and Koby Evans face health care fraud and conspiracy counts in an indictment filed in the Middle District of Florida, Case No….
Federal prosecutors in the Southern District of Florida have charged Ibrahim Khaldoon Hilmi with orchestrating a $3.76 billion fraud scheme that used two shell companies to bill Medicare, Medicaid, the Federal Employees Health Benefits Program, and commercial insurers for durable medical equipment and wound dressings that were never delivered. The indictment in United States v….
Current and former Liberty Mutual employees who saved through the company’s 401(k) plan stand to collect a share of $13.4 million after the insurer agreed to settle a class action alleging it overcharged participants on retirement plan fees. Former workers face a hard deadline: claims must be filed by August 22 or they forfeit any…
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has repeated his warning that an “everything bubble” in stocks, bonds, and real estate is on the verge of collapse, with retirement accounts held by baby boomers at the center of the fallout. The warning arrives as U.S. national debt sits near $39.5 trillion, a figure…
Roughly 100,000 IBM retirees and beneficiaries have seen their pension benefits transferred from the company’s own plan to insurance giants Prudential and MetLife through a series of transactions totaling approximately $14 billion. The transfers, executed in 2022 and again in September 2024, removed billions of dollars in obligations from IBM’s balance sheet. Some affected retirees…
Current and former Whole Foods employees stand to recover a share of $2 million after the grocery chain finalized a class settlement over fees that quietly reduced balances inside its 401(k) retirement plan. The deal resolves claims that plan participants paid more than they should have for recordkeeping and administrative services, costs that compounded year…
Workers across the United States have earned retirement benefits they never collected, and a federal agency has been quietly holding that money for years. The Pension Benefit Guaranty Corporation, an independent agency within the federal government, maintains unclaimed benefits from terminated pension and retirement plans. When employers shut down a plan and cannot locate every…
Single filers earning above the federal income threshold for direct Roth IRA contributions now face a familiar annual squeeze: wages climb, but the statutory ceiling rises more slowly, pushing a growing number of workers into workaround territory. For the 2026 tax year, the IRS set the IRA contribution limit at $7,500, while 401(k) deferrals can…