Postal Service Holds Back on Closures

Getty/Scott Olson

(Reuters) - The cash-strapped U.S. Postal Service will offer buyouts this summer to nearly all of its 45,000 mail handlers, part of a plan to consolidate operations at 140 mail-processing facilities in the next year. The mail agency, which lost $3.2 billion in the first three months of 2012, plans to begin this summer moving mail-processing activities away from smaller sites to reduce annual costs.

It’s no secret that many Americans are struggling to save enough for their retirement. Once upon a time, it was common for employers to bear the responsibility for worker’s well being after retirement through defined-benefit pensions. Today, if a worker is lucky, he will have the opportunity to invest in a 401(k) plan, usually with his employer providing matching contributions up to a certain amount. It’s now the worker’s responsibility to make sure he puts away enough each month, and that the investments he chooses are a good value.

It’s no secret that many Americans are struggling to save enough for their retirement. Once upon a time, it was common for employers to bear the responsibility for worker’s well being after retirement through defined-benefit pensions. Today, if a worker is lucky, he will have the opportunity to invest in a 401(k) plan, usually with his employer providing matching contributions up to a certain amount. It’s now the worker’s responsibility to make sure he puts away enough each month, and that the investments he chooses are a good value.

Scott Gries/Getty Images • Half of Americans have no idea how much they pay in fees for their 401(k). A 2015 study found that in 16% of 401(k) plans, fees were so excessive they outweighed the tax benefits. • It can be difficult to figure out how much you're paying in fees, but there are tools available and red flags watch out for.