KEY TAKEAWAYS The Department of Education closed all online applications for Income-Driven Repayment (IDR) plans and loan consolidation. This was likely in response to a lawsuit challenging the Department of Education’s authority to develop repayment plans that forgive student loans. Borrowers enrolled in SAVE may be moved to a different repayment plan, and borrowers under

For many years, 65 was the age at which you were able to retire and start taking full Social Security benefits, but a law passed in 1983 changed that for some beneficiaries. The full retirement age (FRA) for Social Security benefits rose this year under amendments to the program designed to stretch its funding. Retirees born

KEY TAKEAWAYS The Department of Education closed online applications for Income-Driven Repayment (IDR) plans and loan consolidation applications after a federal court blocked student loan repayment plans. A decision by the 8th Circuit Court of Appeals agreed with states that argued the Secretary of Education did not have the authority to implement the Saving for

KEY TAKEAWAYS The recent L.A. wildfires have destroyed critical vegetation, which typically absorbs rainfall and prevents floods and mudflows. By 2050, homes in Los Angeles, San Diego, and San Francisco will have a higher flood risk than wildfire risk. Many homeowners in the area may have to take up increasingly costly flood insurance to protect

Some workers with employer-run retirement accounts such as 401(k) plans could be losing thousands of dollars because of regulatory or fiduciary violations. For example, recently, Southwest Airlines Co. (LUV) was hit with a proposed class action lawsuit from its employees, which said the company offered poorly performing funds, causing employees to forgo millions in savings.

KEY TAKEAWAYS As Americans’ average lifespans continue to increase, the average amount of savings will likely not last an entire retirement. Additionally, as inflation continues to persist, retirement accounts need to have more savings to afford the increased price of goods and services. Retirement accounts can shift to a “purpose-oriented portfolio strategy” and increase savings

Key Takeaways About 7,000 IRS employees were reportedly laid off on Thursday and a hiring freeze may have limited the number of seasonal workers the agency employed. Since the reductions happened in the middle of the agency’s busiest season, it could affect the processing of your tax return. Tax preparers said filing your return as

KEY TAKEAWAYS The previous acting commissioner of the Social Security Administration left after Elon Musk’s DOGE attempt to access sensitive government records. Lee Dudek has been appointed the administration’s acting commissioner pending the Senate Confirmation of President Donald Trump’s nominee. Dudek said DOGE is critical to the agency and clarified that DOGE personnel can read