Money
Pension Advance Transactions: Questionable Business Practices and the Federal Response
GAO identified at least 38 companies that offered individuals lump-sum payments or "advances" in exchange for receiving part or all of their pension payment streams. The 38 companies used multistep pension advance processes that included various other parties. At least 21 of the 38 companies were affiliated with each other in ways that were not apparent to consumers. more »
States Attack the Pay Gap Between Women and Men; Latinas Earn 54% of What White Men Earn.
over a casual lunch three years ago, her colleagues shared their salaries. Rizo, 41, the only full-time woman in her office, was startled to discover that some of her male co-workers — including a new hire with less experience and education — were being paid at least $10,000 more than she was. Rizo sued the county, and her case is pending in US District Court. more »
Federal Reserve: Keeping the Target Fderal Funds Rate Below Levels the Committee Views as Normal in the Longer Run
The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring developments abroad. Inflation is anticipated to remain near its recent low level in the near term but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of declines in energy and import prices dissipate. more »
For Some States, a Focus on Older Workers: Laws With Little Protection from Hiring Discrimination
According to the EEOC, charges of age discrimination have risen steadily since the turn of the century, from about 16,000 in 2000 to close to 21,000 in 2014. A senior attorney with AARP said "the number of charges filed with the EEOC is just the tip of the iceberg." Most employers, according to the attorney "are smart enough not to make any sort of comment against the person's age, which would provide the smoking gun piece of evidence. So often, it's really not worth filing a job discrimination claim." more »