Tuesday, Sep 30, 2014
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GoSalukis - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
Where was Duece's fiscal restraint during the hydro mess? Someone should tell him these are investments in infrastructure.
Loverofblues - Practice of end-of-career teacher salary bumps being scrutinized - Quincy, IL News - QuincyJournal.c
3 month vacation? Teachers are paid on 9 month contracts.
UJacks1 - Practice of end-of-career teacher salary bumps being scrutinized - Quincy, IL News - QuincyJournal.c
Welcome to the real world of the poorly paid, over worked, 3 months vacation, holidays off, public school teacher! They have never had any reason to complain about pay - in any form.
AYHSMB - REBEL MEDIA: If Gov. Quinn put an Olive Garden in Quincy, would he win Adams County? - Quincy, IL Ne
If he had a pair, Quinn would have asked if any employees, and the percentage of, will earn minimum wage. (Waitresses not included).
1950Brutus - REBEL MEDIA: If Gov. Quinn put an Olive Garden in Quincy, would he win Adams County? - Quincy, IL Ne
Did Quinn check out their views on same sex marriage?? - Rahm may try to run these folks out of town like he did the Chic Filet people because only the politically correct can service us food here in IL.

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

4 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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QuincyJournal 21 minutes ago

Iowa company pitches Newcomb development proposal - Hobart Historic Restoration wants to build $3.9 million apartm... http://t.co/D3LhR9gTcY
Bob Gough on Twitter

Bob Gough 43 minutes ago

@DanLucySports God bless, Dan.
Bob Gough on Twitter

Bob Gough 3 hours, 34 minutes ago

@ursadailynews The City is planning to take out insurance to cover that in case it falls through.
Bob Gough on Twitter

Bob Gough 3 hours, 58 minutes ago

@ursadailynews No. Hobart is seeking $1.8 million of equity from the city as an incentive. Money would come from the TIF.