What Is The Minimum Wage?
In May 2007, Federal minimum wage was increased to $7.25 per hour, but will be implemented in three stages ($5.85 by July 24, 2007, $6.55 by July 24, 2008 and $7.25 by July 24, 2009). However, …
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The Lilly Ledbetter Fair Pay Act of 2009
Just days after being inaugurated, President Barack Obama signed a new piece of legislation that was designed to bring fair pay to American workers. The law, known as the Lilly Ledbetter Fair Pay Act of 2009, overturned the 2007 Supreme Court decision of Ledbetter v. Goodyear Tire & Rubber Co and amended the Civil Rights Act of 1964. History of the Act In 2007, the United States …
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What You Need to Know about 401k Withdrawals
401k plans are common retirement investment tools for United States workers. The plans, named for the section of the IRS code that defines them, allow workers to save for retirement and to defer income taxes until the time the money is withdrawn. However, with these tax benefits come restrictions on when money can be withdrawn from the plan without financial penalties. 401k withdrawals …
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