Tag: guaranteed income

Basic Income Program. The basic income program is just one of dozens

Basic Income Program. The basic income program is just one of dozens rolling out in cities across the U. Universal Basic Income (UBI) is a suggested system that would provide individuals a minimum income to help prevent destitution and to help eliminate glaring … Download 8,663 income in Basicons — Round (Solid) family icons. The concept of universal basic income is a 20th-century program recently gaining new attention. There should never be support like this for universal basic income programs (UBI), which pay not to work. Alexandria, Virginia, approved $500 payments in the … Stockton, California, tried a "universal […]

Will the FCA’s new Consumer Duty mean more support for those not taking advice?

Will the FCA’s new Consumer Duty mean more support for those not taking advice?

FCA Logo Every year, around 700,000 people (£45bn of pots) start accessing their pension pots . These new retirees have big decisions to make about their future retirement income.

Around 250,000 enter drawdown, with around 120,000 (£6bn of pots) not taking advice. Advice is not compulsory so they have every right not to, but managing retirement income so you do not run out of money over your lifetime is hard, very hard.

The new consumer duties have an overriding principle that “A firm must act to deliver good outcomes for retail customers”Will this principle lead to more support directly […]

Detroit needs Guaranteed Basic Income -NOW!

Detroit needs Guaranteed Basic Income -NOW!

Arlyssa Heard struggles with crushing debt from student loans and a high-interest car payment. The single mom was excited to get a promotion at her job, but did not want a huge raise.

“The extra $150 extra take-home in my paycheck meant losing benefits worth far more,” she said.

Detroit residents like Heard hear over and over again they’re to blame for their financial situations and the state of their neighborhoods. They’re told they can pull themselves up by the bootstraps if only they try hard enough. Yet the system that’s supposed to help Arlyssa keeps her from getting ahead.Our current […]

Breakfast links: Purple Line could open sooner

Breakfast links: Purple Line could open sooner

Purple Line vehicle at testing facility. Image by Maryland Transit Administration The Purple Line light rail is on track to open in fall 2026, according to project spokesperson David Abrams. It was previously delayed to at least 2027. Better communication and scheduling among the project operators, along with state and local officials is aiding in the sped-up timeline, which will still be four years and $1.6 billion behind normal schedule. ( Ginny Bixby / Moco360 ) Proposed downtown DC housing tax breaks raise equity issues

DC Mayor Muriel Bowser’s proposal to increase tax breaks for downtown office-to-residential conversions […]

Professional Advice Must Drive Participant Retirement Income Decisions

Professional Advice Must Drive Participant Retirement Income Decisions

Image credit: © Poramate Cheewapat | Dreamstime.com Professional advice is essential for 401(k) participants seeking to adopt a retirement income solution that is tailored to their unique personal and financial situations, according to a new paper published this week by Denver-based recordkeeper Empower.

A confluence of factors has historically made the adoption of a retirement income plan difficult for American workers. Complex products and employer fiduciary concerns have been barriers to greater adoption, argues Empower in the paper, “Retirement income: A modern approach driven by advice.”

The Empower paper says the landscape may now be at a tipping point, and the […]

Prince George’s County Adopts Guaranteed Basic Income Pilot

Prince George’s County Adopts Guaranteed Basic Income Pilot

The county joins a growing number of cities aross the U.S. experimenting with direct cash payments. 401(k) 2012 / Flickr

Hundreds of Prince George’s County residents will begin receiving direct cash payments from the county, after the county council unanimously adopted a guaranteed basic income pilot program on Tuesday.

The pilot program, modeled after a California-based initiative, is designed to serve residents “intractably trapped” in a cycle of generational poverty and close the racial wealth gap by paying individuals a monthly stipend. (According to the U.S. Census , 11.5% of residents in the majority-Black county live in poverty.) Prince George’s […]

Liz Weston: ‘Bridge’ your way to Social Security

Delaying the start of Social Security benefits is a powerful way for retirees to cope with inflation, survive bad investment markets and reduce the risk they’ll run short of money. The advantages of waiting are so great that financial planners often recommend their clients tap other savings, such as retirement funds, to help them delay claiming.

Employers could increase their workers’ financial security by offering a similar “bridge” strategy as part of 401(k)s and other workplace retirement plans, according to a study by the Center for Retirement Research at Boston College. The bridge strategy would tap a worker’s retirement account […]

Nestimate Debuts Software Solution for In-Plan Guaranteed Income Products

Nestimate Debuts Software Solution for In-Plan Guaranteed Income Products

Image credit: © Anyaberkut | Dreamstime.com Nestimate, Inc, a software analytics platform empowering retirement income solutions, today announces the launch of its first software tool, “Nestimate.” Nestimate’s Kelby Meyers Nestimate is designed to help fiduciaries overcome the initial hurdles of in-plan retirement income solutions. This software gives advisors, consultants, and plan sponsors a scalable way to implement lifetime income.

In announcing the software’s debut, Kelby Meyers, CEO of Lincoln, Neb.-based Nestimate said the expansion of the Safe Harbor provision surrounding lifetime income in the SECURE Act of 2019 and a seismic demographic shift underpins the growing interest. As a result, […]

Basic Income for Artists: The Gateway to a New Economy?

Basic Income for Artists: The Gateway to a New Economy?

Value is an important concept, although amorphous in nature, it forms a central part of our decision-making every day. It is the lens through which individuals allocate time, importance and worth to the people, “things” and activities in our lives. What is valuable to me, may not be valuable to you, and doesn’t necessarily reflect what is valuable to communities or populations at large.

One central role of the economy is to perform this translation, taking value from a broad and deeply personal ideal to one that can be globally understood and applied. The universal language through which economic value […]

$5m in Reparations for Every Black Adult? I’m Listening

$5m in Reparations for Every Black Adult? I’m Listening

San Francisco just got serious.

A boy at a Juneteenth parade, which commemorates the end of slavery in Texas two years after it was abolished in the rest of the US, in Galveston, Texas, June 2021. Photo: Callaghan O’Hare/Reuters

Calls for reparations are older than America itself; new demands largely go unnoticed. This wasn’t the case earlier this week when the San Francisco ​​African American reparations advisory committee published its 100 recommendations for how the city could repay its Black population.The recommendations made headlines worldwide, for good reason: a $5 million per-person pay-out; guaranteed income of at least $97,000 a […]