Thursday, Jul 30, 2015
Quincy, IL News - QuincyJournal.com

Recent Comments

qfingers - Trash burner has residents seeing red - Quincy, IL News - QuincyJournal.com
Assuming you're referring to your desire to burn-your-own...there's no comparison to this incinerator and a few thousand homes burning their own. Not too smart putting the incinerator in the middle of town though. And they are probably completely unaware of the EPA restriction.,...at least I hope they are not deliberately violating it as that could subject the city to fines I would think.
QuincyGuy - GOP fundraiser calls for U.S. Sen. Mark Kirk to drop 2016 re-election bid, backtracks - Quincy, IL N
Keep in mind - this was one contributor - not the Republican Party.
pjohnf - Why won’t Illinois lawmakers reform their own pensions? - Quincy, IL News - QuincyJournal.com
Why won't Illinois politicians reform their own pensions? That's a good question. They're eager to blame state employees and other government workers for Illinois's budget problems, yet they ignore their own bankrupt pension system, while the tax payers pay year after year to keep politicians in their Cadillac pensions. If Illinois pension reform is to happen then the corrupt politicians…
pjohnf - Madigan files, passes bill to nix lawmaker pay raises after blocking similar bill for weeks - Quincy
Madigan's bill was nothing more political grand standing and was designed to fool the foolish. He thinks the public is stupid, especially his supporters, but anybody with a brain can see through his subterfuge. Madigan and his co-conspirator Cullerton passed a continuing appropriation last year in the hopes of hiding the annual raises from the tax payers and not requiring a vote by the corrupt…
pjohnf - Jewish Democrats give John Kerry earful on Iran deal - Quincy, IL News - QuincyJournal.com
He warned that walking away from the deal would isolate the United States from its international allies and Iran’s countdown to nuclear weapons “starts tomorrow.” Duh, our allies don't trust us anyway and our enemies don't fear us so what's to lose if we reject this bad deal? The countdown to Iran getting a nuclear bomb started a long time ago, Lurch. And Lurch actually said this, "“I…

Most Popular

Man jumps off Bayview Bridge

Shooting near 8th and York Updated

Trash burner has residents seeing red Updated QJ Original Video

Projected remaining Cleanup cost; at least $1.26 Million

Quincy Public Schools Foundation to Host Renowned Comedian and Ventriloquist

Seven Dead, 34 Hurt In Weekend Shootings In Chicago

With Illinois' budget in limbo, child cares serving the poor are closing down

Illinois prison population dropping

Early 401(k) withdrawals replace homes as America's piggy bank

1 year, 2 months ago From stltoday.com

From From stltoday.com:

Premature withdrawals from retirement accounts have become America’s new piggy bank, cracked open in record amounts during lean times by people such as Cindy Cromie, who needed the money to rent a U-Haul and start a new life.

Her employer, the University of Pittsburgh Medical Center, had outsourced Cromie’s medical transcription work. Cromie said the move cut her income by as much as 60 percent, at times leaving her with minimum-wage pay.

So, last year, at age 56, she moved about 90 miles from her home in Edinboro, Pa., into her mother’s basement. To make ends meet as she moved and then quit the job, Cromie pulled out $2,767 from her retirement savings.

“We made two trips, and it just got to be real expensive,” she said. “That money, it was a security that I needed.”

Still unemployed, Cromie is trying to avoid tapping what’s left of her retirement savings — $7,000 that would be subject to taxes and a 10 percent extra penalty if she touches it in the next two to three years, before she turns 59½.

It’s a small number that’s part of a much larger picture:

The Internal Revenue Service collected $5.7 billion in 2011 from penalties, meaning that Americans took out about $57 billion from retirement funds before they were supposed to.

The median size of a 401(k) is $24,400 as of March 31, with people older than 55 having $65,300, according to Fidelity Investments. Those funds can disappear quickly in retirement, and the early withdrawals indicate that the coming retirement crisis could be even more acute than expected.

“They get hit with the penalty at exactly the time when they’re the most vulnerable,” said Reid Cramer, director of the Asset Building Program at the New America Foundation, which tries to improve savings for lower-income families. “So it’s a real double-whammy.”

Click Here to Read Full Article


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 1 hour, 30 minutes ago

Convicted spy Pollard to be paroled in November; White House denies it is olive branch to Israel http://t.co/NRiYmrRMzn
QuincyJournal on Twitter

QuincyJournal 1 hour, 30 minutes ago

Illegal immigrant ordered freed by feds now suspected of murder in Ohio http://t.co/srrAqmypg5
QuincyJournal on Twitter

QuincyJournal 2 hours, 33 minutes ago

There's a new debt-ceiling deadline on the horizon... http://t.co/J5sEijKozR
QuincyJournal on Twitter

QuincyJournal 3 hours, 31 minutes ago

QPD Blotter for July 30, 2015 http://t.co/N5EY6UOQQD