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Update on your Yellow Retirement Benefits

By 401k, Retirement

Yellow Corp officially filed Chapter 11 bankruptcy Sunday (8/6/23). Pensions & Investments published an article on August 7th, 2023, discussing the status of your Yellow Corp. retirement benefits.

Key Takeaways:

  • Participants whose benefits transferred to the insurance company in 2021 are not affected and will continue to receive 100% of their benefits.
  • Union employees will continue to receive their pension benefits. (These benefits will remain reduced).
  • Pension Benefit Guaranty Corp (PBGC) has the option to terminate Yellow’s pension and take it over.

Participants in the non-union Yellow pension plans should keep a close eye on what the PBGC decides to do in the coming days to understand what will happen to your benefits.

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Should I Take A Loan From My 401(k)?

By 401k, Retirement


401k loans are a feature that some 401k’s offer and may be an option you have in your financial toolbox. But is it the right choice?

The answer: It depends.

Your 401k is designed and works best as a tax efficient way of investing for your future retirement. Using the 401k loan feature as your own personal piggy bank is ill-advised.

But in some cases, considering a 401k loan may actually make financial sense and safeguard your retirement portfolio.

Keep reading as we discuss 401k loans.

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