Millions Archives - DR News - News, Retirement, Finance

Pension Funds Linked to ByteDance Investments Put Millions at Risk in US Market

WASHINGTON — The Chinese-controlled parent company of TikTok, ByteDance, is facing scrutiny as it has been revealed that millions of dollars from US pension funds, including those of New York’s police officers and firefighters, are likely invested in the company. Congress has ordered ByteDance to sell off TikTok or face a ban, prompting concerns about the implications of such investments. A new report by the non-profit investment-watchdog group Future Union has identified 48 pension funds …

Investors Left in the Dark as Millions Vanish After Accountant’s Death

Collegeville, Pennsylvania – Anne Bortner, a 65-year-old from South Jersey who works with individuals dealing with traumatic brain injuries, had entrusted $180,000 to accountant Joseph Pezzano in Collegeville, Montgomery County. This investment, made after the passing of her mother, was intended for her retirement. However, following Pezzano’s death at the age of 73 last Christmas Day, Bortner, along with her twin sister and brother, have been unable to locate their funds. Many other investors are …

Taxpayers in Florida Footing Bill for Millions in Healthcare Costs for Undocumented Immigrants, Rep. Greg Steube Claims on Social Media

Tallahassee, Florida – The issue of healthcare costs for immigrants in the U.S. illegally has sparked a debate among policymakers in Florida. Rep. Greg Steube, a Republican from Florida, recently raised concerns about the financial burden placed on taxpayers due to providing healthcare for individuals who are in the country without legal status. According to Steube, the state of Florida has spent approximately $566 million on hospital visits for these individuals, a figure that has …

Social Security Crisis Looms as Trust Funds Set to Exhaust by 2035, Threatening Benefits for Millions

Pinellas County, Florida – Social Security, a program that has been in existence since 1935, has been a crucial source of support for millions of Americans. However, a new report from the Social Security Trustees in 2024 paints a concerning picture for the future of the program. According to the latest projections, the Social Security trust funds are expected to be depleted by 2035. If no action is taken by Congress, the funds may only …

Fraudulent Scheme Uncovered: Man Charged with Wire Fraud for Millions in Benefit Scams

HARTFORD, Conn. – A man in Hartford, Connecticut, has been accused of wire fraud in connection to the fraudulent acquisition of social security, unemployment, and food stamp benefits. The indictment, handed down on May 1, 2024, alleges that Ricardo Santiago, 58, committed three counts of wire fraud. After pleading not guilty to the charges, he was released on a $25,000 bond. Court documents reveal that Santiago held various jobs from 2002 to 2024, earning over …

Child Medicaid and CHIP Enrollment Declines Impact Millions Across States

Austin, Texas – A recent report reveals a concerning trend in child enrollment in Medicaid and the Children’s Health Insurance Program (CHIP) across the United States. By December 2023, 4.16 million fewer children were enrolled in these programs nationwide compared to the month before states began the Medicaid “unwinding” process. This unwinding process, following the lifting of COVID-related continuous coverage protections, has led to accelerated losses in enrollment, with significant implications for the affected children …

State Pension and Benefits Increase Boosts Incomes for Millions

Birmingham, UK – In April, millions of individuals in the UK saw a significant increase in their income as the new fiscal year brought about annual adjustments to benefits and pensions. These adjustments are made to ensure that income levels keep up with the rising cost of living, which has been a concern due to high inflation rates in recent years. The UK economy has shown positive signs of progress in the past few months, …

Social Security Payments Could Lead to Higher IRS Bills for Millions of Americans as Tax Season Approaches

Sarasota, Florida – As tax season approaches, many seniors on Social Security may find themselves owing thousands of dollars to the IRS. Although Social Security payments received a 3.2 percent cost of living adjustment this year, this increase could inadvertently push many seniors into a higher tax bracket, resulting in a larger amount of money being withheld from their payments. In fact, it is estimated that nationally, about 40 percent of Social Security recipients are …

Taxes on Retirement Savings: New ‘Headroom’ for Pensioners but Millions Face Increase

London, UK – Retirees in the UK are set to receive some welcome news with the announcement of increased ‘headroom’ for retirement savings. However, this positive development comes with a downside, as millions of pensioners may face the prospect of paying higher taxes in the near future. The new measures aimed at providing pensioners with more flexibility in their retirement savings come as a relief for many individuals looking to secure their financial future. The …

Medicaid Disenrollment Crisis: Millions of Americans Struggle to Regain Health Insurance

Jacksonville, Florida – A 2-year-old girl in Jacksonville, Florida, diagnosed with cystic fibrosis faced a health insurance crisis after losing her Medicaid coverage during the pandemic. The toddler’s mother, along with others, filed a lawsuit highlighting the urgent need for insurance to cover necessary medication and doctor visits. This story reflects a broader issue affecting communities nationwide as the Medicaid expansion, prompted by the pandemic, comes to an end. Many Americans who lost Medicaid coverage …