Second Brexit referendum hopes dim as UK lawmakers prepare for historic vote

U.K. government plans to have a straight vote Saturday on its new draft Brexit deal look set to go ahead, despite attempts by opposition MPs (Members of Parliament) to attach a “confirmatory” referendum. Pro-EU lawmakers in Westminster narrowly won a vote Thursday, seeking to amend Prime Minister Boris Johnson’s Brexit plans. This clears the way for MPs to potentially alter the outcome of the main Brexit plan when it’s voted upon during a special parliamentary session happening on Saturday. Form


U.K. government plans to have a straight vote Saturday on its new draft Brexit deal look set to go ahead, despite attempts by opposition MPs (Members of Parliament) to attach a “confirmatory” referendum.
Pro-EU lawmakers in Westminster narrowly won a vote Thursday, seeking to amend Prime Minister Boris Johnson’s Brexit plans.
This clears the way for MPs to potentially alter the outcome of the main Brexit plan when it’s voted upon during a special parliamentary session happening on Saturday.
Form
Second Brexit referendum hopes dim as UK lawmakers prepare for historic vote Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: david reid
Keywords: news, cnbc, companies, dim, second, decision, johnsons, vote, plans, historic, plan, lawmakers, hopes, brexit, prepare, referendum, mps


Second Brexit referendum hopes dim as UK lawmakers prepare for historic vote

U.K. government plans to have a straight vote Saturday on its new draft Brexit deal look set to go ahead, despite attempts by opposition MPs (Members of Parliament) to attach a “confirmatory” referendum.

Pro-EU lawmakers in Westminster narrowly won a vote Thursday, seeking to amend Prime Minister Boris Johnson’s Brexit plans. This clears the way for MPs to potentially alter the outcome of the main Brexit plan when it’s voted upon during a special parliamentary session happening on Saturday.

Former Attorney General Dominic Grieve told CNBC’s Steve Sedgwick Friday that he would back Johnson’s deal with Brussels if the government was prepared to attach a second referendum to it.

“My view is that what we are talking about now is so radically different from what was being discussed in the 2016 referendum. The time that has passed since, the importance of this decision — it seems to me that this decision should be put back to the British people.”

Grieve is one of 21 lawmakers that were ousted from the ruling Conservative Party in September. He believes of that group, several will join him in opposing Johnson’s Brexit plan, unless a second referendum is attached to the bill.


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: david reid
Keywords: news, cnbc, companies, dim, second, decision, johnsons, vote, plans, historic, plan, lawmakers, hopes, brexit, prepare, referendum, mps


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Ken Fisher fallout: Which pension plans have pulled out and which have stayed

Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Fisher Investments oversees $386 million of the IPERS $34 billion trust fund. The speed with which pensions moved assets from the money manager surprised even attorneys who specialize in retirement plans. Public retirement plans are subject to state law, and the boards that govern them are fiduciaries — even though the federal laws that apply


Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010.
Fisher Investments oversees $386 million of the IPERS $34 billion trust fund.
The speed with which pensions moved assets from the money manager surprised even attorneys who specialize in retirement plans.
Public retirement plans are subject to state law, and the boards that govern them are fiduciaries — even though the federal laws that apply
Ken Fisher fallout: Which pension plans have pulled out and which have stayed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: darla mercado
Keywords: news, cnbc, companies, firm, pension, plans, investments, public, million, assets, billion, ken, fisher, pulled, fallout, stayed, retirement


Ken Fisher fallout: Which pension plans have pulled out and which have stayed

Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Gillianne Tedder | Bloomberg | Getty Images

It remains to be seen how long other clients will stick with billionaire money manager Ken Fisher in the wake of off-color and sexist comments he recently made at an investing conference. The Iowa Public Employees Retirement System on Friday notified the firm it would end its contract. Fisher Investments oversees $386 million of the IPERS $34 billion trust fund. More than $1.2 billion public pension assets have left Camas, Washington-based Fisher Investments so far, including the Boston Retirement System with $248 million in assets and $600 million the State of Michigan says it’s withdrawing. Philadelphia’s board of pensions also said it would move the $54 million it has with Fisher.

While government-run pension funds make up a relatively small amount of the overall assets managed at Fisher Investments, $10.9 billion from 36 entities, according to the firm’s regulatory filing with the Securities and Exchange Commission, how they respond may be a bellwether for other clients of the firm, industry experts say. In all, Fisher had $94 billion in assets under management as of Dec. 31, 2018, according to their SEC filing. That figure reached $112 billion as of Sept. 30, 2019, according to the firm. The speed with which pensions moved assets from the money manager surprised even attorneys who specialize in retirement plans. That’s because these plans normally take two to three quarters to decide whether they want to change investment advisors, said George Michael Gerstein, an attorney at Stradley Ronon in Washington, D.C. “I typically caution plan fiduciaries against acting too hastily in deciding whether to fire or hire or offer a new investment option to participants,” he said.

Who remains

The spate of divestitures was spurred by sexist comments Fisher made at the Tiburon CEO Summit on Oct. 8 — which public officials also cited as a reason for firing his firm. Fisher has since apologized for his comments. “Some of the words and phrases I used during a recent conference to make certain points were clearly wrong and I shouldn’t have made them,” he said in a prepared statement. “I realize this kind of language has no place in our company or industry. I sincerely apologize.” While individual investors can pick up their assets and go at any time, retirement plans tend to proceed deliberately, even if they’re investing their funds with an array of managers. This could be why other plans aren’t yet rushing for the exits at Fisher. Indeed, the State Board of Administration of Florida, which has a $175 million relationship with the firm, has been in contact with Fisher Investments and is performing its due diligence, said John Kuczwanski, a spokesman for the plan. Further, the Haverhill Massachusetts Retirement System, which has about $200 million in total assets, expects to address its next steps in an upcoming board meeting in November. “It’s up for discussion,” said administrator David Van Dam. The Haverhill pension plan has $13 million invested with Fisher. Public retirement plans are subject to state law, and the boards that govern them are fiduciaries — even though the federal laws that apply to corporate 401(k) plans don’t apply to them. This means the pension plans must act in the best interest of their beneficiaries and participants, and they must back their decisions with the appropriate due diligence. “There are a lot of quantitative and qualitative factors that are reviewed before deciding to remove someone,” said Marcia Wagner, founder of The Wagner Law Group in Boston. “It isn’t a snap decision.”

Prudent process

Hinterhaus Productions | The Image Bank | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: darla mercado
Keywords: news, cnbc, companies, firm, pension, plans, investments, public, million, assets, billion, ken, fisher, pulled, fallout, stayed, retirement


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GM deal with UAW includes closing three US plants, $11,000 ‘ratification’ bonuses

Michael Wayland / CNBCDETROIT – The United Auto Workers’ proposed tentative deal with General Motors includes the closure of three U.S. plants, including a large assembly plant in Lordstown, Ohio, according to the union. GM told the union it would bring battery cell production to Mahoning Valley, a region that includes Lordstown in Ohio. The sale of the plant and battery cell production, according to the company, are not covered under the proposed tentative agreement. GM, according to a person f


Michael Wayland / CNBCDETROIT – The United Auto Workers’ proposed tentative deal with General Motors includes the closure of three U.S. plants, including a large assembly plant in Lordstown, Ohio, according to the union.
GM told the union it would bring battery cell production to Mahoning Valley, a region that includes Lordstown in Ohio.
The sale of the plant and battery cell production, according to the company, are not covered under the proposed tentative agreement.
GM, according to a person f
GM deal with UAW includes closing three US plants, $11,000 ‘ratification’ bonuses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: michael wayland
Keywords: news, cnbc, companies, plant, production, includes, closing, cell, lordstown, deal, union, 11000, plans, uaw, according, ratification, plants, bonuses


GM deal with UAW includes closing three US plants, $11,000 'ratification' bonuses

United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC

DETROIT – The United Auto Workers’ proposed tentative deal with General Motors includes the closure of three U.S. plants, including a large assembly plant in Lordstown, Ohio, according to the union. The plants, including two powertrain operations in Michigan and Maryland, had been earmarked in November to end production this year, but the Detroit automaker had to negotiate the closures as part of contract negotiations with the union. A parts distribution facility for GM in Fontana, Calif. also would close under the four-year deal. A fourth plant in Detroit assembly plant that was also slated for closure, as previously reported by CNBC, will be spared to build a new all-electric pickup for the automaker, if the deal is ratified. The plant is still slated to end production of the Cadillac CT6 and Chevrolet Impala by January. A timeframe for production of the pickup and the complete closures of the other U.S. facilities was not disclosed by the union, however the three plants were already idled by the automaker earlier this year. GM declined to comment.

Battery cell production

GM, in a statement, said it remains “committed to future investment and job growth” in Ohio. GM told the union it would bring battery cell production to Mahoning Valley, a region that includes Lordstown in Ohio. The plans, according to GM, would create about 1,000 manufacturing jobs, and include the sale Lordstown to Lordstown Motors Corp., a new company that plans to build electric pickups for commercial fleet customers. That company plans to initially create 400 jobs, GM said.

The sale of the plant and battery cell production, according to the company, are not covered under the proposed tentative agreement. GM, according to a person familiar with the negotiations, is expected to invest $9 billion in manufacturing operations as part of the deal, including the battery cell production. About $7.7 billion of that would be “direct” investment in current U.S. plants. The UAW did not disclose the total expected investment in its summary of the deal that was released Thursday.

Pay increases, bonuses


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: michael wayland
Keywords: news, cnbc, companies, plant, production, includes, closing, cell, lordstown, deal, union, 11000, plans, uaw, according, ratification, plants, bonuses


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Three big mistakes to avoid during Medicare open enrollment

Of the 60 million or so Medicare beneficiaries, roughly 22.2 million people are enrolled in Advantage Plans, according to the Centers for Medicare and Medicaid Services. The remainder are on original Medicare and often pair it with a standalone drug plan and/or a so-called Medigap policy. The average monthly premium among Advantage Plans is forecast to be $23 next year, down from close to $27 in 2019. Assuming there’s no better optionThe number of Advantage plans you can pick from largely depend


Of the 60 million or so Medicare beneficiaries, roughly 22.2 million people are enrolled in Advantage Plans, according to the Centers for Medicare and Medicaid Services.
The remainder are on original Medicare and often pair it with a standalone drug plan and/or a so-called Medigap policy.
The average monthly premium among Advantage Plans is forecast to be $23 next year, down from close to $27 in 2019.
Assuming there’s no better optionThe number of Advantage plans you can pick from largely depend
Three big mistakes to avoid during Medicare open enrollment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: sarah obrien
Keywords: news, cnbc, companies, mistakes, premiums, coverage, outofpocket, enrollment, plans, advantage, 2020, medicare, drug, according, avoid, big, plan, open


Three big mistakes to avoid during Medicare open enrollment

Hero Images | Getty Images

Even if Medicare’s open enrollment period sounds like a big snore fest, you might sleep better next year if you take advantage of it. For the program’s 60 million beneficiaries, that yearly fall window — Oct. 15 through Dec. 7 — offers the chance to make changes that take effect Jan. 1. While you aren’t required to do anything — your coverage will automatically renew if you take no action — passing on the chance review your plan could cost you in 2020. “The danger is that at the time of service, you’ll be surprised when you have a different copay or out-of-pocket expense that you weren’t anticipating,” said Elizabeth Gavino, founder of Lewin & Gavino in New York and an independent broker and general agent for Medicare plans. More from Personal Finance:

Couples weigh ‘strategic divorce’ to save on taxes

You can trick yourself into saving more. Here’s how

Four ways to not outlive your retirement savings During this annual fall enrollment period, you can: Switch to an Advantage Plan from original Medicare (Part A hospital coverage and Part B outpatient coverage);

Switch to original Medicare from an Advantage Plan;

Move from one Advantage Plan to another;

Move from one prescription drug plan (Part D) to another, or purchase one if you did not when first eligible (although you could face a penalty for late enrollment). Of the 60 million or so Medicare beneficiaries, roughly 22.2 million people are enrolled in Advantage Plans, according to the Centers for Medicare and Medicaid Services. That number is expected to rise to 24.4 million in 2020. The remainder are on original Medicare and often pair it with a standalone drug plan and/or a so-called Medigap policy. Be aware that generally speaking, autumn open enrollment has nothing to do with Medigap plans, which operate under separate rules. Here are mistakes to avoid when it comes to the current six-week window to make changes.

Ignoring the whole thing

Even if your Advantage plan or drug coverage served you well this year, there’s no guarantee that you’ll feel the same way in 2020. While insurers are federally regulated, the specifics of their options can vary greatly from plan to plan, county to county and year to year. Changes can affect your premiums, deductibles, co-pays and covered services, along with participating doctors, hospitals, pharmacies and other providers. The average monthly premium among Advantage Plans is forecast to be $23 next year, down from close to $27 in 2019. This year, 56% of enrollees paid no premium for those plans, according to the Kaiser Family Foundation. Regardless of what that payment would be, keep in mind that it’s in addition to your Part B premium. Although there’s been no official word yet on that base amount for 2020, it’s projected to rise to $144.30 from $135.50 this year, according to the latest Medicare Trustees report. (Higher-income beneficiaries pay more.)

Of course, premiums are are not the only factor you should consider. “The lower premiums have higher deductibles and copays, and the higher premiums tend to have lower amounts for those,” said Danielle Roberts, co-founder of insurance firm Boomer Benefits in Fort Worth, Texas. “Look at what it will cost you overall.” The average out-of-pocket limit for in-network services among Advantage plan enrollees in either HMOs or PPOs this year is $5,059, according to the Kaiser Family Foundation. “You should know your worst-case scenario and be prepared to afford the maximum out-of-pocket for the plan you choose,” Gavino said.

You should know your worst-case scenario and be prepared to afford the maximum out-of-pocket for the plan you choose. Elizabeth Gavino Founder of Lewin & Gavino

Monthly premiums for standalone prescription drug plans will also be lower next year, dropping to $30 from $32.50 in 2019. (Again, higher earners pay more.) However, as with Advantage Plans, a lower premium doesn’t necessarily mean your total out-of-pocket cost would be less. Depending on the plan’s formulary — how it prices the drugs it covers — and the coverage restrictions in place, the amount you pay for certain drugs could be more in 2020. You can compare coverage through the Medicare.gov Plan Finder tool, although be aware that some of the information you’re given may be incomplete. You might have to look at the plan’s formulary to get details on things like whether you’d have to try out cheaper alternatives first (so-called step therapy) or if there are quantity limits on the medicine you take. To make sure your doctor, pharmacy or other provider is still in network, you also have to check with the insurance company that offers the plan. You can either visit the provider’s website or call. And if you work with a Medicare agent, that person also should be prepared to help you.

Assuming there’s no better option

The number of Advantage plans you can pick from largely depends on where you live. The more rural the area, the fewer the options you’re likely to have. For example, in Wyoming and Alaska, fewer than 10% of all beneficiaries are in Advantage plans in 2019, according to the Kaiser Family Foundation. Nationwide, that share is more than 30%. However, new plans continuously become available, as insurance carriers expand their options and coverage areas and new players enter the market. This makes it important to make sure there isn’t a more cost-effective option for you.

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New stand-alone prescription drug plans also could be available where you live, which makes it worthwhile to comparison-shop. “Your plan might be great, but if one similarly priced saves you $500 next year, you’d probably want to know about that,” Roberts said. “If you don’t do the analysis, you might miss out on that savings.”

Assuming your health won’t change


Company: cnbc, Activity: cnbc, Date: 2019-10-17  Authors: sarah obrien
Keywords: news, cnbc, companies, mistakes, premiums, coverage, outofpocket, enrollment, plans, advantage, 2020, medicare, drug, according, avoid, big, plan, open


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Tell? Don’t tell? How much should you let your company know about your plans to retire early?

Source: Mindy KincaidYou want to retire early. She was clear about her plans to retire early. Now, he said, they were coming up with their own plan to pay off the house and see what they could do to retire early. Aleya plans to retire in about 10 years. “I’ve never talked about it with my supervisor,” Aleya said.


Source: Mindy KincaidYou want to retire early.
She was clear about her plans to retire early.
Now, he said, they were coming up with their own plan to pay off the house and see what they could do to retire early.
Aleya plans to retire in about 10 years.
“I’ve never talked about it with my supervisor,” Aleya said.
Tell? Don’t tell? How much should you let your company know about your plans to retire early? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: jill cornfield
Keywords: news, cnbc, companies, early, retire, supervisor, know, aleya, till, company, kincaid, tell, let, cummins, dont, plans


Tell? Don't tell? How much should you let your company know about your plans to retire early?

Mindy Kincaid, 45, retired early and was always clear that she intended to do so. They were still shocked, though. Source: Mindy Kincaid

You want to retire early. Not 60, not 55, not 50. Way earlier than the standard. If you are contemplating some form of FIRE (financial independence/retire early), you may have mixed feelings about sharing your long-range plans. Many people don’t want their employers to catch a word of this. At risk: promotions and the company investment in you. On the other hand, as Mindy Kincaid, 46, found out, they may not take your goals seriously.

When they don’t believe you

Kincaid, a stay-at-home-mom who lives in Charlotte, North Carolina, was always upfront with her supervisors at the bank where she worked. Kincaid spent 27 years managing an online banking platform for businesses. “I loved it,” she said. But when she had kids, she wanted to spend more time with them. Always good at saving, she and her husband went about making plans to pay off the mortgage.They were aiming for her to step away in August 2020.

In April, they decided she could give notice. During her last months on the job, one supervisor was surprisingly on board with Kincaid’s plans. A different supervisor, eight to 10 years younger than Kincaid, expressed a lot of skepticism. “He was like, ‘Yeah, right.’ But I kept plugging away, and I talked about it openly,” she said. While she was still working, Kincaid was part of a team of 100 or so people. She was clear about her plans to retire early. She shared information from Dave Ramsey and titles of books she found helpful. Her boss blew her off. “I don’t know if it was the age difference or the mentality,” she said. “The day I let him know, he paused. Then he slammed his hand down on the desk.” The gesture was more amazement, she says, a “wow,” rather than an angry response. “He had no words,” Kincaid said. “When we announced it to the rest of my peers, he kind of chuckled. ‘I don’t have to be worried about the rest of you, because no one is as frugal as Mindy is.’ ”

It may be contagious

After Kincaid’s announcement, the company’s instant message system lit up like a Christmas tree, she says. People didn’t want to talk about it out loud, but they certainly wanted to discuss it silently. One man walked over to her desk to chat. He had remembered her original time frame of three to six months. A week later, he told Kincaid about a conversation he’d had with his wife. Now, he said, they were coming up with their own plan to pay off the house and see what they could do to retire early. Most commonly, Kincaid says, people tell her, “You always said you would do it. Help talk me through it.”

DJ and Erin Cummins Source: DJ and Erin Cummins

Coworkers are often intrigued when they learn someone has found a way to work fewer years. Just after starting a personal finance blog, D.J. Cummins, 37, was hired in April as a market researcher for a St. Louis company, where his group director is an acquaintance. He is fairly sure his boss is a surreptitious reader of his blog. “She came up to me and had some questions about setting up a 529 account for her daughter,” said Cummins, who lives in Bethalto, Illinois. Cummins’ blog covers personal finance topics such as real estate and ways to save for retirement. He and his boss had not talked about the blog during his interview. “Two weeks later, she told me I had motivated her to start meal prepping to save money,” he said. Cummins wants the option of retiring early in about five years. After losing a job in a wave of layoffs, he is mainly interested in financial independence. “It really makes you think,” he said. More from Invest in You:

Here’s how to invest like Warren Buffett

Tips from people who didn’t save till their 40s or 50s

What almost no one knows about emergency savings

When to keep mum

Aleya S., 36, plans to keep her job till retirement. The Bloomington, Illinois, resident asked that her last name be withheld. She has been with her employer for three years, and she likes it a lot. There is plenty of job growth, training opportunities and generous compensation. She has an excellent relationship with her direct supervisor. Aleya plans to retire in about 10 years. What she doesn’t plan to do is tell her company. The organization has many employees of long standing. “A lot of people stay till retirement,” well into their 60s, Aleya said. Her fear: The company will think twice about investing in her skills if it knows she intends to leave. “We were talking recently about my next designation,” Aleya said. The company awards bonuses to employees who take on higher roles. That means Aleya is not counting the days till she can retire. She is also not shirking. “I’m a top performer in my team and in my area,” she said. “I’ve never talked about it with my supervisor,” Aleya said. “I’m looking forward to the next 10 years, and I’m excited about where I’m going to go. “Sometimes we pick jobs as a means to an end, but I’m really enjoying what I do.”

A good ending


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: jill cornfield
Keywords: news, cnbc, companies, early, retire, supervisor, know, aleya, till, company, kincaid, tell, let, cummins, dont, plans


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This chart shows just how much Elizabeth Warren and Bernie Sanders want to go after billionaires

Senator Bernie Sanders joins former Vice President Joe Biden and Senator Elizabeth Warren onstage before the start at the 2020 Democratic U.S. presidential debate in Houston, Texas, U.S. September 12, 2019. A new analysis of 2020 Democratic candidates’ tax plans reveals a stark difference in how much presidential hopefuls, particularly Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., want to go after billionaires. Their critics are also skeptical of how effectively the government can


Senator Bernie Sanders joins former Vice President Joe Biden and Senator Elizabeth Warren onstage before the start at the 2020 Democratic U.S. presidential debate in Houston, Texas, U.S. September 12, 2019. A new analysis of 2020 Democratic candidates’ tax plans reveals a stark difference in how much presidential hopefuls, particularly Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., want to go after billionaires. Their critics are also skeptical of how effectively the government can
This chart shows just how much Elizabeth Warren and Bernie Sanders want to go after billionaires Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: ganesh setty, valerie block
Keywords: news, cnbc, companies, tax, billionaires, bernie, plans, shows, democratic, chart, sanders, economists, zucman, warren, wealth, president, billion, elizabeth


This chart shows just how much Elizabeth Warren and Bernie Sanders want to go after billionaires

Senator Bernie Sanders joins former Vice President Joe Biden and Senator Elizabeth Warren onstage before the start at the 2020 Democratic U.S. presidential debate in Houston, Texas, U.S. September 12, 2019.

A new analysis of 2020 Democratic candidates’ tax plans reveals a stark difference in how much presidential hopefuls, particularly Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., want to go after billionaires.

In determining the effective tax rate each income group pays, economists Gabriel Zucman and Emmanuel Saez take into account all available information that 2020 front-runners, including former Vice President Joe Biden, have said on the campaign trail and on their respective websites. Sanders, according to the economists’ analysis, would tax the income of the wealthiest 400 in America at nearly 100%.

The candidates’ plans vary widely, and so the economists also treat private health insurance premiums as a tax on households. The analysis also assumes different rates of tax evasion and avoidance, according to their methodology.

Zucman and Saez serve as policy advisors for both the Warren and Sanders campaigns.

The chart illustrates why some on Wall Street have sounded the alarm on the possibility of Warren or Sanders becoming president instead of Biden, who is known to be more moderate and business-friendly.

The economists have their critics, too. For instance, former Treasury Secretary Larry Summers and Natasha Sarin, assistant professor at the University of Pennsylvania, view Zucman and Saez’s estimates as overly optimistic. Their critics are also skeptical of how effectively the government can enforce a wealth tax.

The main reason for such a large difference between Biden’s plan and the plans of Warren and Sanders, who calls himself a democratic socialist, has to do with proposed wealth taxes, Zucman said in an email.

Biden has not put out a formal tax plan yet, whereas Sanders’ proposed wealth tax, for example, has a tax rate up to 8% for wealth above $10 billion. Warren, meanwhile, proposes a 2% annual tax on net worth between $50 million and $1 billion, with an additional 1% levied on net worth above $1 billion.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: ganesh setty, valerie block
Keywords: news, cnbc, companies, tax, billionaires, bernie, plans, shows, democratic, chart, sanders, economists, zucman, warren, wealth, president, billion, elizabeth


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Here are the biggest analyst calls of the day: Amazon, Square, Lowe’s & more

Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. Clodagh Kilcoyne | Reuters


Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. Clodagh Kilcoyne | Reuters
Here are the biggest analyst calls of the day: Amazon, Square, Lowe’s & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael bloom
Keywords: news, cnbc, companies, amazon, speaks, gives, president, space, calls, plans, biggest, kilcoyne, washington, jeff, origins, thumbs, analyst, day, square, lowes


Here are the biggest analyst calls of the day: Amazon, Square, Lowe's & more

Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019.

Clodagh Kilcoyne | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael bloom
Keywords: news, cnbc, companies, amazon, speaks, gives, president, space, calls, plans, biggest, kilcoyne, washington, jeff, origins, thumbs, analyst, day, square, lowes


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Here are the biggest analyst calls of the day: Amazon, Square, Lowe’s & more

Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. Clodagh Kilcoyne | Reuters


Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. Clodagh Kilcoyne | Reuters
Here are the biggest analyst calls of the day: Amazon, Square, Lowe’s & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael bloom
Keywords: news, cnbc, companies, amazon, speaks, gives, president, space, calls, plans, biggest, kilcoyne, washington, jeff, origins, thumbs, analyst, day, square, lowes


Here are the biggest analyst calls of the day: Amazon, Square, Lowe's & more

Founder, Chairman, CEO and President of Amazon Jeff Bezos gives a thumbs up as he speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019.

Clodagh Kilcoyne | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael bloom
Keywords: news, cnbc, companies, amazon, speaks, gives, president, space, calls, plans, biggest, kilcoyne, washington, jeff, origins, thumbs, analyst, day, square, lowes


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Medicare open enrollment is underway. Here’s what’s new and what to watch out for

Martin Barraud | Getty ImagesIt’s the time of year for people on Medicare to give their coverage a checkup. “Each insurance carrier revisits their [drug] formulary and they renegotiate provider contracts,” said Elizabeth Gavino, founder of Lewin & Gavino in New York and an independent broker and general agent for Medicare plans. Also during that initial sign-up time, you can sign up for an Advantage Plan, which includes Parts A and B and, typically, a Part D prescription plan. Meanwhile, you als


Martin Barraud | Getty ImagesIt’s the time of year for people on Medicare to give their coverage a checkup. “Each insurance carrier revisits their [drug] formulary and they renegotiate provider contracts,” said Elizabeth Gavino, founder of Lewin & Gavino in New York and an independent broker and general agent for Medicare plans. Also during that initial sign-up time, you can sign up for an Advantage Plan, which includes Parts A and B and, typically, a Part D prescription plan. Meanwhile, you als
Medicare open enrollment is underway. Here’s what’s new and what to watch out for Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: sarah obrien
Keywords: news, cnbc, companies, available, advantage, services, prescription, whats, plans, enrollment, coverage, watch, heres, plan, open, underway, medicare, users


Medicare open enrollment is underway. Here's what's new and what to watch out for

Martin Barraud | Getty Images

It’s the time of year for people on Medicare to give their coverage a checkup. The program’s annual enrollment period runs from Oct. 15 through Dec. 7, which is when you can make changes to your coverage that will take effect Jan. 1. During this window, you can: • Switch to an Advantage Plan from original Medicare (Part A hospital coverage and Part B outpatient care); • Switch to original Medicare from an Advantage Plan; • Move from one Advantage Plan to another; • Move from one prescription drug plan (Part D) to another, or purchase one if you did not when first eligible. Experts say that even if you’ve been happy with your 2019 coverage, both Advantage and prescription drug plans are modified from year to year — and new plans become available, as well — which means it’s important to evaluate whether your current option is still the best available for you.

“Each insurance carrier revisits their [drug] formulary and they renegotiate provider contracts,” said Elizabeth Gavino, founder of Lewin & Gavino in New York and an independent broker and general agent for Medicare plans. “So you need to make sure your providers, prescriptions and your preferred pharmacy are still on the plan.” Additionally, changes can affect your premiums, copays, deductibles and covered services, along with the cost of your prescriptions. And, you might find coverage that meets your needs at a better cost. If, after evaluating your options, you determine that you want to stick with your current coverage, you don’t need to take any action. It’s worth noting that Medicare’s fall open enrollment is different from your initial enrollment period, which is a seven-month window that starts three months before your 65th birthday and ends three months after your birth month. Also during that initial sign-up time, you can sign up for an Advantage Plan, which includes Parts A and B and, typically, a Part D prescription plan. These plans also often include additional coverage such as dental, vision or wellness programs. Here are some key things to keep in mind this year.

What’s new

If you use the Plan Finder tool on Medicare.gov to compare your options each year, you’ll be navigating a new system. The updated version, which became available to users in late August, was met with criticism due to various changes — and glitches — that caused incomplete or incorrect results to be generated. While the Centers for Medicare and Medicaid Services has deployed many fixes in the wake of the negative feedback, it’s uncertain whether more tweaks are in store or if users will continue running into issues. “The intentions were good, but the timing was terrible,” said Danielle Roberts, co-founder of insurance firm Boomer Benefits in Fort Worth, Texas. She added, though, that users can always call 1-800-MEDICARE if any information seems to be missing or anything is unclear. As of Tuesday, there were still differences between the new and old versions that were not viewed as improvements. For example, users were still finding incomplete results related to prescription drugs, including the details of a particular plan’s limits on the quantity of the medicine you need covered. Meanwhile, you also might notice some supplemental benefits available through Advantage Plans that you hadn’t seen in the past. While many plans already offer extras such as dental or vision coverage, new rules allow Advantage Plans to offer services that go beyond traditional medical care. For example, roughly 500 plans are expected to offer services such as adult day care or caregiver support systems next year, according to the Centers for Medicare and Medicaid Services. Another 250 plans will offer things such as meal delivery, rides to the grocery store or even pest control. However, not all extra benefits are available to everyone who enrolls in the particular plan offering them. Some may only be extended to people with certain chronic illnesses or conditions — and even then, whether you qualify must be assessed by the plan once you’re enrolled. “You won’t know if you’re eligible for those supplemental benefits until you’re in the plan,” said David Lipschutz, associate director for the Center for Medicare Advocacy. “So don’t be lured in only by the bells and whistles.” More from Personal Finance:

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Earning income after 65? How to make it work for you If you pick an Advantage Plan during fall enrollment and realize afterward that it’s not a good fit, you can change your coverage between Jan. 1 and March 31 by switching to either another Advantage Plan or to original Medicare and a stand-alone prescription plan. Be aware that while you can change your mind about your coverage several times during the current open enrollment period, you can only make one change during the January-through-March window. The average premiums for Advantage Plans is forecast to be $23 next year, down from close to $27 in 2019. Yet this year, 56% of enrollees paid no premium, according to the Kaiser Family Foundation. Regardless of the amount, keep in mind that it’s in addition to your Part B premium. Although there’s been no official word yet on what that 2020 base amount will be, it’s projected to rise to $144.30 from $135.50 this year, according to the latest Medicare Trustees report. The deductible for Part A is forecast to increase to $1,420 from $1,364, and the deductible for Part B is projected to go to $197 from $185.

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Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: sarah obrien
Keywords: news, cnbc, companies, available, advantage, services, prescription, whats, plans, enrollment, coverage, watch, heres, plan, open, underway, medicare, users


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You could be missing out on this employee benefit. But beware the risks

The health insurer’s employee stock purchase plan gave her the ability to buy shares at a 15% discount with a feature called a lookback. That revelation led Shapiro to found his own company, Carver Edison, to help employees come up with the money to participate. Nearly three-quarters of publicly traded companies offer employee stock purchase plans, or ESPPs, to at least some of their employees, according to a 2018 Deloitte survey. Company shares generally are offered at a discount, which is typi


The health insurer’s employee stock purchase plan gave her the ability to buy shares at a 15% discount with a feature called a lookback. That revelation led Shapiro to found his own company, Carver Edison, to help employees come up with the money to participate. Nearly three-quarters of publicly traded companies offer employee stock purchase plans, or ESPPs, to at least some of their employees, according to a 2018 Deloitte survey. Company shares generally are offered at a discount, which is typi
You could be missing out on this employee benefit. But beware the risks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: lorie konish
Keywords: news, cnbc, companies, company, benefit, shares, employees, plans, carver, purchase, plan, beware, edison, employee, stock, risks, missing


You could be missing out on this employee benefit. But beware the risks

Fertnig | E+ | Getty Images

When Aaron Shapiro dug through the workplace benefits his mother was entitled to as a 30-year employee at United Healthcare, he noticed a big missed opportunity. The health insurer’s employee stock purchase plan gave her the ability to buy shares at a 15% discount with a feature called a lookback. That means a participant in the plan gets the lowest price from either the beginning or the end of the stock purchase period. “It’s an opportunity that anyone in the institutional investing world would kill to have access to,” Shapiro said. “It just so happens to be sitting in the hands of an employee of a publicly traded company.” By Shapiro’s calculations, not participating in the plan cost his mother more than $1 million. That revelation led Shapiro to found his own company, Carver Edison, to help employees come up with the money to participate. Nearly three-quarters of publicly traded companies offer employee stock purchase plans, or ESPPs, to at least some of their employees, according to a 2018 Deloitte survey. Yet employee participation in the plans is generally low, the study found.

How these plans work

Stock plans are generally available to all employees and allow them to purchase shares at a reduced price. The purchase of company stock is made via payroll deductions. That means the money comes out of your pay after taxes, noted Emily Cervino, head of thought leadership at Fidelity. Company shares generally are offered at a discount, which is typically around 15%, she said. Many plans also include a lookback. So, if you enroll when the stock is at $10 per share, and the transaction occurs when the stock is $15, you get the discount on the lower of the two prices. That means you pay $8.50 per share if the stock is trading at $15. Participating employees can choose their salary contributions, which usually range between 1% to 10%, Cervino said. The IRS limits your investment to $25,000 total per year. Employee contributions typically accumulate over three to six months, at which point they are aggregated together to purchase shares. In most cases, employees can sell the shares immediately after they’ve purchased them. Or, they can choose to sell them at a later date. One big factor to consider when choosing between now or later: taxes. An immediate sale will be taxed as ordinary income. A future sale will be taxed at a lower rate as long-term capital gains. To qualify as long-term capital gains, you generally need to sell at least two years from the first day of the offering period or at least one year from the purchase date.

Improving employee participation

Shapiro’s company, Carver Edison, is working to provide short-term interest-free rate loans on behalf of employees so they can increase their contributions to stock purchase plans. For example, if a plan’s maximum is 10% of an employee’s income, and a worker can only afford to contribute 1%, Carver Edison will front the 9% difference. Following the transaction, Carver Edison receives some shares to reimburse them for the loan. The employee’s net shares are then deposited into their brokerage account. More from Personal Finance:

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Tips for maxing out your retirement contributions this year “If things go well at the company, [the employee] stands to build more wealth over time,” Shapiro said. “If things don’t go well, the employee now owns more shares, [and] they have more dry powder to diversify their investments.” Carver Edison works directly with companies. So an individual’s employer would need to be working with them in order for an employee to take a loan. The company recently completed a deal to provide their program to the publicly traded companies on E-Trade’s Equity Edge platform.

What to consider before you invest

Just because you can borrow to participate in an ESPP doesn’t mean you should. And, as with all investments, financial advisors say you should proceed with caution if you want to participate in your employer’s plan. “A good question to ask is, ‘Would I buy this stock if it wasn’t in my company plan?'” said Cathy Curtis, founder and CEO of Curtis Financial Planning in Oakland, California. “If the answer is probably not, then maybe it’s a better idea not to get involved.” In addition, it’s also important to evaluate whether the strategy fits into your overall financial plan. “The first thing to figure out is do you even have cash available to contribute,” said Roger Ma, founder of Lifelaidout in New York.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: lorie konish
Keywords: news, cnbc, companies, company, benefit, shares, employees, plans, carver, purchase, plan, beware, edison, employee, stock, risks, missing


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