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New report flashes a warning light over 401(k) account balances

Published Mon, 24 Feb 2025 14:35:06 GMT

New York (CNN) — The average balance in employer-sponsored savings plans last year was $112,572, well below the $141,542 recorded in 2021.That’s according to the latest annual report, “How America Saves,” from investment firm Vanguard, which serves as record keeper for defined contribution plans that, combined, have nearly 5 million participants with a median age of 43. Such plans include 401(k)s and 403(b)s, as well as a much smaller universe of plans that employers simply put money into for employees and then employees direct how that money is invested.“Vanguard participants’ average account balances decreased by 20% since year-end 2021, driven primarily by the decrease in equity and bond markets over the year,” according to the report.The numbers look worse if you consider the median balance, which was just $27,376 last year, down from $35,345 in 2021. The median in some ways is a truer read on the state of employees’ retirement savings since it is the middle point — meaning half...

Fathers’ roles in helping with infant sleep and breastfeeding found to be ‘suboptimal,’ new study says

Published Mon, 24 Feb 2025 14:35:06 GMT

(CNN) — Fathers matter.A new study — a rare effort that focuses solely on the father’s involvement in an infant’s life — shows a striking link between the support that dads offer and better infant outcomes.The research sought to answer several questions about paternal participation in breastfeeding and the use of safe sleep practices for babies. The results showed that fathers play a crucial role in both — and it highlights the need for bolstered parental leave policies in the United States, according to the study, which published Friday in the journal Pediatrics.The results of the survey, which included 250 fathers, were “suboptimal,” the study concluded, revealing only 16% of dads followed all the recommended safe sleeping practices for infants. And many could do more to support mothers who breastfeed, which can provide key health benefits for babies, the study indicated.The reason the researchers asked these questions in the first place? Moms wanted them to, said study coauthor D...

‘Those Who Remained’ charts life, healing after the horrors of war

Published Mon, 24 Feb 2025 14:35:06 GMT

Opening today at the West Newton Cinema is another gleaming find from the discerning people at Menemsha Films. “Those Who Remained” is a 2019 Hungarian drama set in postwar Budapest, where Jewish survivors try to move forward with their lives however traumatized they have been. Aladar “Aldo” Korner (a fine Karoly Hajduk) is a 42-year-old gynecologist, whose wife and children died in the camps. When we meet him, he is treating 16-year-old Klara Weiner (a marvelous Abigel Szoke). Klara is so devastated by the loss of her family that she pretends they moved away and left her behind with her hopeless and similarly damaged Aunt Olgi (Mari Nagy). Aldo is tall, gaunt and wears his fedora at a rakish tilt. Hajduk would make a fine screen Dracula. He has a courtly demeanor and something dark perched behind his eyes. Szoke’s Klara is an unruly, inconsolable and also attractive girl. She gets her period, which she deems “disgusting.” She hates everything, including such postwar deprivati...

Iowa high court refuses to unblock strict ban on most abortions

Published Mon, 24 Feb 2025 14:35:06 GMT

DES MOINES, Iowa (AP) — Iowa’s high court refused Friday to unblock a strict ban on most abortions, rebuffing Republican Gov. Kim Reynolds and, for now, keeping the conservative state from joining others that have severely limited access to the procedure.The decision to uphold a 2019 district court ruling that blocked the law comes roughly a year after the same body — and the U.S. Supreme Court — determined that women do not have a fundamental constitutional right to abortion.The blocked law bans abortions once cardiac activity can be detected, usually around six weeks of pregnancy and before many women know they are pregnant.While the state’s high court maintains the block on the law, it does not preclude Reynolds and lawmakers from passing a new law that looks the same. The decision Friday was largely procedural — the 2022 appeal to the 2019 ruling was too late.Abortions remain legal in Iowa up to 20 weeks of pregnancy.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows bel...

CP NewsAlert: Supreme Court of Canada upholds Safe Third Country Agreement

Published Mon, 24 Feb 2025 14:35:06 GMT

OTTAWA — Canada’s highest court has deemed the pact between Canada and the United States to control the flow of asylum seekers across the shared border to be constitutional.More coming.The Canadian Press

Stock market today: Wall Street opens mostly higher, looking to extend winning streak

Published Mon, 24 Feb 2025 14:35:06 GMT

NEW YORK (AP) — Stocks are opening mostly higher as Wall Street looks to extend the market’s longest winning streak in a year and a half. The S&P 500 was up 0.2% in the early going Friday. The benchmark index is trading at the highest level it’s been at since April 2022 of last year. The Dow added 71 points, or 0.2%, and the Nasdaq slipped 0.1%. Adobe was among the biggest winners early on. The software maker rose 5% after raising its outlook and turning in results that easily beat forecasts. Treasury yields rose. The yield on the 10-year Treasury note climbed to 3.78%THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.BANGKOK (AP) — Shares advanced in Europe and Asia on Friday after a broad-based rally on Wall Street. U.S. futures were little changed and oil prices wobbled lower after gaining more than 3% on Thursday. Germany’s DAX added 0.2% to 16,328.40 and the CAC 40 in Paris surged 0.6% to 7,337.98. Britain’s FTSE 100 was up 0.2% at 7,642.77. The fu...

TD Bank issues causing customers to not receive direct deposits

Published Mon, 24 Feb 2025 14:35:06 GMT

One of Canada’s biggest banks is having major problems Friday morning, as a technical issue is affecting whether or not its customers receive direct deposits.In response to multiple social media posts asking TD Canada Trust what’s going on, TD Bank says it is “aware of an issue causing customers in Western and Eastern regions to not receive their Direct Deposit today.”Many have taken to Twitter highlighting their need to receive their paychecks.@TD_Canada helllo I was wondering if the direct deposit is down I haven’t got my paycheck— M (@MMcPheee) June 16, 2023“It’s crazy @TD_Canada is having issues with people getting paid today and they aren’t even letting people know. I’ve had multiple people contact me asking where their pay is…. Any update??,” one Twitter user asked.“Yup, no pay for anyone within my work environment who banks with @td_canada. Extremely upsetting as people have automatic withdrawals coming out,” another said....

On Ukraine-Russia trip, South African leader’s delegation stuck at Polish airport over arms permits

Published Mon, 24 Feb 2025 14:35:06 GMT

JOHANNESBURG (AP) — A delegation of security officials, diplomats and journalists accompanying the South African president to Ukraine and Russia was stranded on a separately chartered plane at Warsaw’s airport for more than 24 hours. Polish authorities said on Friday that the problem was over permissions for firearms. South African President Cyril Ramaphosa is among a group of African leaders visiting Kyiv and Moscow on a mission to encourage a resolution to Russia’s war on Ukraine. According to the Poland Border Guard agency, Ramaphosa’s security detail did not have permission for the weapons they were carrying, which resulted in a standoff. The president’s office described the incident as “very unfortunate and deeply regrettable” but said his security was not compromised.“Members of the delegation had weapons which they did not have permission to bring, but they could leave the plane themselves,” the Polish agency tweeted Friday.“Our officials remain engaged with their...

Jury resumes deliberating in trial of gunman who killed 11 at Pittsburgh synagogue

Published Mon, 24 Feb 2025 14:35:06 GMT

PITTSBURGH (AP) — A jury resumed deliberating Friday in the federal trial of a truck driver who shot and killed 11 worshippers at a Pittsburgh synagogue in the nation’s deadliest attack on Jewish people.There is no dispute that 50-year-old Robert Bowers was the man who burst into Tree of Life synagogue on Oct. 27, 2018, and opened fire with an AR-15 rifle and other guns, although prosecutors and the defense sparred at trial over his motive. Seven people were wounded, including five police officers.After 11 days of testimony, jurors got the case Thursday afternoon and spent more than two hours reviewing the mountain of evidence against Bowers before going home. Bowers is charged with 63 criminal counts, including hate crimes resulting in death and obstruction of the free exercise of religion resulting in death. Prosecutors are seeking the death penalty.In closing arguments Thursday, a prosecutor told the jury that Bowers targeted his victims because of their religion, noting hi...

AP Election Brief | What to expect in Virginia’s primaries for state legislature

Published Mon, 24 Feb 2025 14:35:06 GMT

WASHINGTON (AP) — Virginia voters will select candidates in a primary election Tuesday in which redistricting has forced a record number of retirements and created several high-profile contests between incumbents of the same party.The winners will face off in a November general election that will decide control of the closely divided state legislature.In 2021, Republicans won a narrow 52-48 majority in the House of Delegates and swept every statewide constitutional office. This year, they aim for a complete lock on the commonwealth’s legislative agenda by winning back the state Senate, which Democrats now control by a 22-18 majority.One of the top races to watch is the Democratic primary in the 13th Senate District, where the candidates’ positions on abortion have played a key role. First-term incumbent Joe Morrissey, a former independent, opposes abortion rights and has backed some Republican efforts to restrict the procedure in the commonwealth. His opponent is Lashrecse Aird, a f...