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☆ Opinion | Flau’jae and Wyclef Jean Are Rapping About Personal Finance. Good.
▼ + stars: | 2024-03-08 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Flau’jae, the 20-year-old star of basketball and hip-hop, does not manage $1.3 trillion in assets for clients. She also does not have an army of financial advisers and economists at her disposal. Listen to “Paper Right,” a recently released hip-hop track recorded by Wyclef Jean, a founding member of the Fugees, with guest appearances by artists including Flau’jae, Pusha T, Lola Brooke and Capella Grey. I wrote on Monday about a program that teaches math through personal finance and personal finance through math. You have to keep your eyes on the prize — and to know that there’s a prize you should want in the first place.

Persons: ”, Wyclef Jean, Pusha, Lola Brooke, Capella Grey, TIAA’s, there’s, Jean Organizations: Teachers Insurance

[1/2] A sign indicates the direction to the offices of Progress Software in Burlington, Massachusetts, U.S., July 26, 2023. But more than two months after the breach was first disclosed by Massachusetts-based Progress Software, the parade of victims has scarcely slowed. The tallies show that nearly 40 million people have been affected so far by the hack of Progress' MOVEit Transfer file management program. Now the digital extortionists involved, a group named "cl0p", have become increasingly aggressive about thrusting their data into the public domain. MOVEit is used by organizations to ship large amounts of often sensitive data: pension information, social security numbers, medical records, billing data and the like.

Persons: Brian Snyder, Marc Bleicher, cl0p, Huntress Security's John Hammond, Christopher Budd, Sophos, Eric Goldstein, Nathan Little, Emsisoft, Bert Kondruss, Rowe Price, Maximus, Alexander Urbelis, Crowell, Goldstein, didn't, Surefire's, Raphael Satter, Zeba Siddiqui, Chris Sanders, Grant McCool Organizations: Progress Software, REUTERS, FRANCISCO, Reuters, Software, Insurance, of America, Cybersecurity, Infrastructure Security Agency, Tetra Defense, WHO, Pension, California Public Employees, Moring, U.S ., Thomson Locations: Burlington , Massachusetts, U.S, WASHINGTON, American, Massachusetts, York, New York, Louisiana, California, New York City, Oregon

☆ Nuveen Buys Giant New York City-Focused Affordable Housing Portfolio
▼ + stars: | 2023-05-09 | by ( Will Parker | ) www.wsj.com time to read: 1 min

New York City area properties include several large apartment buildings in the Bronx, Brooklyn and Queens. Photo: Gary Hershorn/Getty ImagesNuveen, the asset management arm of Teachers Insurance and Annuity Association of America, is acquiring a more than 12,000-unit affordable housing portfolio in one of the largest multifamily housing deals this year. The properties are largely concentrated in the New York City area, including several large apartment buildings in the Bronx, Brooklyn and Queens. Other buildings are located in Maryland, Massachusetts, Texas and other states, Nuveen said on Tuesday. The portfolio includes developable land and existing buildings in need of rehabilitation that could eventually produce an additional 8,000 low-income apartments, Nuveen said.

☆ Biden's new retirement law means you may not have to choose between paying off student debt and saving for the future
▼ + stars: | 2023-01-23 | by ( Jason Lalljee | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

One will allow employers to match workers' student loan payments in the form of retirement plan contributions. It's a boon for those who owe student debt, Tamara Telesko, Director of Wealth Planning at TIAA, told Insider. "Under our reforms, many more workers would access resources for retirement and see meaningful federal retirement contributions year after year." Telesko explained that this provision would be a way for people with student debt to build savings, which many can't. Shanna Bennett, a 37-year-old borrower who had more than $130,000 in student debt last year, currently works as a human resources manager.

☆ TIAA Trader Faces Securities Fraud Charges for Alleged Insider Trading Scheme
▼ + stars: | 2022-12-15 | by ( Corinne Ramey | ) www.wsj.com time to read: 1 min

The Justice Department charged the trader and an associate with securities and wires fraud. The Justice Department on Wednesday charged a Teachers Insurance and Annuity Association of America trader and an associate with fraud for allegedly using stolen confidential information to profit on trades, yielding what prosecutors said were tens of millions of dollars in illegal gains. The U.S. Attorney’s Office for the Southern District of New York charged Lawrence Billimek, 51 years old, and Alan Williams, 77, a retired financial professional and active day trader, with securities fraud, wire fraud and conspiracy offenses.

☆ Millennials and Gen Z counting on a 401(k) to get them through retirement are in for a rude awakening, TIAA head says
▼ + stars: | 2022-10-11 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

Half of millennials and Gen Z expect employer-based savings plans to be enough for retirement, a TIAA study shows. Millennials and Gen Z could be in for a dire future unless they save differently. Duckett said that she wanted policymakers and employers to increase access to retirement savings plans, as well as educating workers about income options such as annuities. She also encouraged Gen Z and millennials to seek out savings vehicles like IRAs, which aren't dependent on an employer. It's a testament to how much employers have sapped their retirement packages over the past few decades that Gen Z and millennials could be in trouble.

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