From stltoday.com
Wednesday, Nov 26, 2014
Quincy, IL News - QuincyJournal.com
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4tolerance - Quincy City Council votes to sell defaulting loans - Quincy, IL News - QuincyJournal.com
If I am not mistaken, the loan amount from the revolving loan fund has a maximum of $50,000 and cannot exceed the amount of the participating bank's loan. If I am correct on that, which I may or may not be, then Bank of Quincy would have a minimum of $50,000 loaned on each originally. The City will take a hit of $83,754 and BOQ will have a loan balance of no less than $113,754 + $30,000 in buying…
Cardinalquincy - Strawman: And Now WE Get Even With Whitey...... - Quincy, IL News - QuincyJournal.com
I love you RUHEARINGVOICES... You hit the nail on the head... My goal is to acquire the lowest negative score ever from these hopeless conservatives. They are incorrigible. Faux news is not fair and balanced. It is outdated an unimaginative like the Old Testament.
Cardinalquincy - Darren Wilson Grand Jury evidence and testimony - Quincy, IL News - QuincyJournal.com
Darren Wilson? Is he like the Ferguson, MO version of Quincy, IL's Timothy Bichsel?
AYHSMB - Bruce Guthrie named director of The District - Quincy, IL News - QuincyJournal.com
Wow. This guy sounds like a good choice to get the Gems going again. The OLC should look him up.
Stupid_Dems - Quincy City Council votes to sell defaulting loans - Quincy, IL News - QuincyJournal.com
Wonder who on the loan committee ok'd the loans. Maybe the same guys who ok's Newcomb?? Maybe???

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

6 months, 2 weeks 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.”

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