Complete Financial Newsroom
5/13/2011
Mohamed El-Erian
Pimco Chief Executive
Here's his opinion on inflation and commodities.
Market Missing Big Picture on Inflation
Bill Gross - PIMCO Funds
Click here to read a short Q & A by Bill Gross, manager of the PIMCO Total Return Fund, titled "Capturing opportunity in the $90 trillion global bond market". (This article was first available in March, 2011.)
04-08-2011
Social Security is Suspending Earnings-Statement Mailings
Don’t be surprised if you don’t receive your annual Social Security benefit statement this year. In an effort to save money, the Social Security Administration (SSA) is suspending the annual mailing of your earnings statement. The SSA is investigating how to securely provide the statements on their web site. If the SSA cannot figure out how to securely provide the statements on their web site, they will resume mailing the statements by the end of 2011. Because the SSA mails statements all year long, some people will have already received their 2010 statement.
It costs the SSA $70M each year to mail the paper statements to 150 million people.
About 2.7 million people applied for retirement benefits in 2010, a 17 percent increase from 2008.
About 88 percent of people who receive Social Security benefits have their payments deposited directly into bank accounts.
You can find the Social Security Administration online at: ssa.gov
Fraudulent FDIC Email
Special Announcement
Potentially Harmful Email
The TFA Home Office has been made aware of a fraudulent email regarding FDIC Insurance. While the email appears to come from a government agency, be advised that the email is a hoax. If you or your clients receive this email or something similar, please do not respond to or click the link in the email, and immediately delete it. The link does not take you to the FDIC
website, but instead will direct you to a website intended to gather your personal information.
An example of the fraudulent email:
From: insurance@fdic.gov << This is not a government email address
Subject: FDIC Insurance
To whom it may concern,
In cooperation with the Department Of Homeland Security, Federal, State and Local
Governments your account has been denied insurance from the Federal Deposit
Insurance Corporation due to suspected violations of the Patriot Act. While we
have only a limited amount of evidence gathered on your account at this time it
is enough to suspect that currency violations may have occurred in your account
and due to this activity we have withdrawn Federal Deposit Insurance on your
account until we verify that your account has not been used in a violation of the
Patriot Act.
As a result Department Of Homeland Security Director Tom Ridge has advised the
Federal Deposit Insurance Corporation to suspend all deposit insurance on your
account until such time as we can verify your identity and your account
information.
Please verify through our IDVerify below. This information will be checked against
a federal government database for identity verification. This only takes up to a
minute and when we have verified your identity you will be notified of said
verification and all suspensions of insurance on your account will be lifted.
http://void.gov << Dummy link only is provided
Failure to use IDVerify below will cause all insurance for your account to be
terminated and all records of your account history will be sent to the Federal
Bureau of Investigation in Washington D.C. for analysis and verification. Failure
to provide proper identity may also result in a visit from Local, State or Federal
Government or Homeland Security Officials.
Thank you for your time and consideration in this matter.
Donald E. Powell
Chairman Emeritus FDIC
John D. Hawke, Jr.
Comptroller of the Currency
Michael E. Bartell
Chief Information Officer
Please note: Any email that is suspicious should be researched or immediately deleted if it is seems unusual, is not expected, the sender is not known, and there is no contact number to reach the sender directly.
Highlights of the 2010 Tax Relief Act
Click here for a summary of the 2010 Tax Relief Act (H.R. 4853) which was signed into law on December 17, 2010.
FDIC Insurance
As a result of the financial crisis, FDIC insurance coverage was changed. This article discuses these changes.
Articles of Interest
As the end of the year approaches, you will be receiving year end statements for all of your accounts and preparing for your income taxes. This article talks about How Long Should I Keep My Statements?
Standard Life Insurance Company of Indiana - Update December 22, 2010
Indianapolis, December 22, 2010 - Indiana Insurance Commissioner Stephen W. Robertson today announced an agreement by which Standard Life Insurance Company of Indiana, which has been in rehabilitation for two years would be reorganized.
Please click here to read the entire announcement.
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