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President Barack Obama will pitch some new proposals to expand access to retirement savings accounts and revisit some old ones when issuing his budget next month. [...] The White House says Obama's proposals, if enacted, would provide more than 30 million people access to a retirement account. The biggest chunk of that increase would occur through legislation requiring employers that don't offer a retirement plan to automatically enroll their workers in an Individual Retirement Account. The employers that did so would get a tax credit of $3,000 to help them offset the administrative expense. The proposal was also part of...

President Obama is rumored to be in talks to move to New York and teach as a professor at Columbia Law School once his time in the White House is over. The president has strong links to Columbia University: He was a transfer student from California’s Occidental College in 1981 as a 20-year-old junior, and graduated from Columbia in 1983. Obama also taught courses in constitutional law at the University of Chicago from 1992 until his election to the US Senate in 2004. He was a senior lecturer from 1996 to 2004, during which time he taught three courses per...

President Barack Obama's fiscal year 2016 budget was unveiled Monday to the American public, along with the Department of Treasury's Greenbook, which provides further explanation and details of the proposals in the president's budget. In truth, the president's budget is really more of a wish list than anything else, but it's a good indication of where the administration is headed. This year's version of the budget includes a number of provisions targeting retirement accounts. That's no surprise, as provisions aimed at retirement accounts have been a regular feature in budgets in recent years. What is a surprise, however, is how...

Time left until Obama leaves office...[displayed at link!]

President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. Read Companies bracing for 1-2 retirement punch . According to the report,...

With Budget Proposal Obama Tells Us What Is A ‘Reasonable’ Amount To Have In Retirement Accounts April 6, 2013 Lonely Conservative With his budget proposal, President Obama has told us what he believes is a “reasonable” amount to have in a retirement account. $3 million is the number he chose. According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals “to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”“The budget would limit an individual’s total balance across tax-preferred accounts to an...

Major Gen. Paul E. Vallely, who served as the U.S. Army Deputy Commanding General for the Pacific, issued a statement on April 8, 2010, calling for the resignation of President Barack Obama.