Articles

City controller floats idea to change retirement plans

If the plan is carried out, new city employees wouldn’t be eligible for pensions through the Indiana Public Retirement System. Instead, they would have a defined-contribution plan similar to the 401(k) plans offered by private-sector employers.

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Chances of getting audited by IRS lowest in years

Budget cuts and new responsibilities are straining the Internal Revenue Service's ability to police tax returns. This year, the IRS will have fewer agents auditing returns than at any time since at least the 1980s.

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Savers beware: Fees may be shrinking your 401(k)

A new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker's account over a four-decade career compared with lower-cost options.

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