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Retirement Pay Finally Released to Former IBC-13 Employees After 22-Year Wait

Manila, Philippines – More than two decades after their retirement, 145 former employees of state-run Intercontinental Broadcasting Corp. (IBC) in the Philippines have finally received their long overdue retirement pay. Some of these retirees, who have been grappling with health issues, were able to benefit from the release of approximately P500 million in retirement pay. According to the Presidential Communications Office, it took 22 years and 28 management teams before the payment was finally released. …

Pensioners given option to change pay frequency from four weeks to every seven days

London, England – Pension recipients in the UK are now able to adjust the frequency of their payments, moving from a four-week period to a weekly schedule. This change provides individuals with greater flexibility in managing their finances and budgeting effectively for their needs. Avoiding tax creep during retirement is crucial for maintaining financial stability. By understanding the tax laws and planning accordingly, retirees can maximize their savings and ensure a comfortable future. Seeking professional …

Wealth Accumulation Solutions for Women Aim to Bridge Pay Gap in Spain and the US

Washington, D.C. – Economists have been analyzing the disparity in lifetime wealth accumulation outcomes for men and women in different countries, shedding light on the impact of caregiving responsibilities and gender pay gaps on retirement savings. According to the U.S. Department of Labor, women who take time off to care for children or loved ones end up with an average lifetime wealth accumulation of $295,000 less than men in similar roles, further widening for women …

Social Security Taxation: Understanding Why Recipients Must Pay While Collecting Benefits

Myrtle Beach, SC – A senior citizen who is collecting full Social Security benefits while still working full-time wonders why the federal government continues to deduct Social Security payroll taxes from their paycheck. The confusion stems from a lack of clarity on why individuals receiving benefits must contribute to the program’s funding. The individual, who had $4,400 deducted from their pay in 2023, questions the rationale behind this process. In response to the inquiry, it …

Social Security: Biden Claims ‘Working People’ Pay More than Millionaires, Do You?

Washington D.C., USA – President Biden recently made a statement regarding the contributions made by “working people” compared to millionaires and billionaires in funding Social Security. This has sparked a discussion on the fairness of the current system. The President’s remarks shed light on the disparities in Social Security contributions between different income brackets. By highlighting the disproportionate burden shouldered by the working class, Biden has brought attention to a longstanding issue in the country’s …

Minneapolis Mayor Veto Threatens Uber and Lyft Departure Over Drivers’ Pay Hike

Minneapolis, Minnesota – Minneapolis Mayor Jacob Frey vetoed a pay raise for rideshare drivers approved by the City Council, leading to a potential showdown with major rideshare companies like Uber and Lyft. The companies have threatened to leave the city and possibly the state, citing the pay hike as a reason for their impending departure on May 1. Frey swiftly called for a special council meeting to override his veto and prepare for the consequences …

Tax Triggers Tied to West Virginia Pay Raises and Social Security Cuts

CHARLESTON, West Virginia – Negotiations are underway in the West Virginia Legislature to finalize the budget before the end of the session on Saturday. The state Senate has introduced amendments to House Bill 4883, which focuses on increasing the annual salaries of certain state employees, including teachers, school service personnel, and West Virginia State Police troopers and employees. Originally, Governor Jim Justice proposed a 5% pay raise for these employees, costing over $80 million. However, …

Hourly Financial Planning Fees: What Should You Expect to Pay for a Fee-Only Planner?

Boston, Massachusetts – As individuals approach retirement age, the need for sound financial planning becomes increasingly important. Recently, a Reddit user sought advice on the appropriate hourly fee for a fee-only financial planner, sparking a discussion on the costs associated with financial advisory services. The user, who has a substantial investment portfolio totaling $1.55 million with a heavy focus on tech stocks, sought guidance on portfolio rebalancing. With retirement on the horizon in 2024-2025, the …

AI chatbot debacle forces Air Canada to pay partial refund, tribunal rules

Vancouver, British Columbia – A Vancouver man has won a partial refund from Air Canada in a case that sets a potential precedent for the use of artificial intelligence in business. The Canadian tribunal ruled in favor of Jake Moffatt, who sought a bereavement fare after the death of his grandmother. He interacted with the airline’s chatbot, which erroneously promised him a discount on his flight ticket. Moffatt later discovered that the airline’s actual bereavement …

Court Orders Donald Trump to Pay Over $350m in Fraud Case Ruling

New York, USA – Former President Donald Trump has been ordered to pay over $350 million after being found guilty in a massive fraud trial in New York state. Justice Arthur Engoron delivered the verdict, imposing fines of $355 million and an additional interest of $463.9 million, as well as a three-year ban on doing business in the state. The ruling comes after Mr. Trump was found to have fraudulently inflated his wealth on financial …