Submitted by: Fiscal Fitness Tax & Financial Services
As we embark upon this new year with optimism and positive expectations, we must brace ourselves for the proverbial bump in the road that comes to us all. Already, there have been some major events that have occurred in the U.S. economy. In addition to the Tax Cuts & Jobs Act (TCJA) of 2017, with its wide-ranging ramifications, several large national organizations such as DOWDUPONT, USPS (United States Postal Service), Capital One, & SAMSCLUB have made major workforce moves.
In late 2017 DuPont & Dow Chemical companies completed a $130+ billion merger, creating DOWDUPONT, which is the nation’s largest chemical company. After the merger, DOWDUPONT announced it will no longer contribute to active employees’ pension plans, and approximately 9,500 of its U.S. retirees have been offered a chance to exchange their pensions for a lump-sum buyout or monthly annuity. Current long-term employees anticipate early retirement and buyout severance package offers will be rolled out soon.
Individuals who are affected by these high impact issues should seek professional financial tax assistance and counsel. Getting the proper understanding and advice is critical to making wise decisions for a prosperous future.
Fiscal Fitness Tax & Financial Services is offering free consultation.