Mortgage Payment Acceleration Accounts An Ancient Wisdom Fits Current Economics Mortgage burning parties are considered a relic of our parents and grand-parents generations. With growing uncertainty about our over-leveraged lives, the more conserva...

 

Nowadays there are several financial services that are increasingly important to labor union members. Many are centered around retirement planning issues. 401(k)’s, 203(b)’s, 457’s and traditional pensions make up the vast majority of retirement plans. These are, for the most part, Defined Contribution Plans under ERISA (Employee Retirement Income Security Act). That means that the employer offers the group benefit to the employee by deducting a pre-determined amount or percentage from the worker’s paycheck to fund their retirement account. This may or may not be matched by the employer.