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Spring 2016 Newsletter


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Federal Funds Rate

The federal funds rate is the interest rate at which banks lend funds to each other from their deposits at the Federal Reserve, usually overnight, in order to meet reserve requirements. The Fed also raised a number of other rates related to funds moving between Federal Reserve banks and other banks. The Fed does not directly control consumer savings or credit rates, but the federal funds rate serves as a benchmark for many short-term rates, such as savings accounts, money market accounts, and short-term bonds. (READ MORE)

History of the IRS

With the due date for tax filing just around the corner, it is interesting to note that much of our current tax system started in 1913. That year the 16th amendment was ratified and it stated, “Congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration.”  From 1868 until 1913, ninety percent of all revenue came from taxes on liquor, beer, wine and tobacco!  Since 1913, tax revenue has largely come from income tax. That was the year the 1040 form was introduced. (READ MORE)

DOL Rule Won’t Insist on Flat Per-Participant Recordkeeping Fees

Finalization of the Department of Labor’s (DOL) proposed fiduciary rule will place new responsibilities on sponsors of 401(k) plans to determine the extent of service they want from retirement plan providers. (READ MORE)

Grow Your Retirement Savings

Before filing your 2015 tax return make sure you’re not passing up an opportunity to pad your Roth IRA savings without padding your tax bill. (READ MORE)

Six 401(k) Rollover Pitfalls

If you are receiving a distribution from your 401(k) plan and considering a rollover to a traditional IRA, there are some pitfalls you’ll want to avoid. (READ MORE)

Fee Investors Pay Non-Fiduciaries

A new generation of financial companies already live up to the DOL’s proposed standard. Moreover, they all are eager to efficiently and effectively serve the investors who traditional brokerages appear to be so cavalierly gouging or waving away. (READ MORE)

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