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JetBlue Airways is preparing to cut scores of weekly flights in the New York City area this spring and summer in response to a shortage of air traffic controllers, a measure that will have a financial impact on the airline, CEO Robin Hayes told CNBC on Wednesday. Last week, the Federal Aviation Administration unveiled a new plan to help avoid a repeat of 2022′s flight disruptions, reducing flight requirements by up to 10% for airlines’ takeoff and landing rights to avoid congestion in the New York City area and Washington, D.C. The FAA cited its staffing shortfall. The waivers will last from May 15 through Sept. 15. “We don’t want to pull down flights. I’m sure no airline wants to pull down flights,” Hayes said in an interview with CNBC ahead of an event at the Economic Club of New York. “But if we don’t cut them the system is not going to be workable this summer.” The staffing shortfall and potential schedule cuts in the region highlight the difficulty airlines have faced to ramp u...

New legislation working its way through Congress could improve retirement security for U.S. workers. The plan is part of a government spending bill, and it includes a provision that would automatic ally enroll eligible employees into their company's retirement plan. The hallmark of the legislation, called the Secure Act 2.0, would see companies enrolling workers in a 401(k) retirement plan, deducting at least 3% — but no more than 10% — of an employee's pretax earnings, which would be deposited into the 401(k) account. Employees could always opt out of the program. The legislation would also allow employers to factor in employees who make student loan payments when considering 401(k) contributions. And it would provide tax incentives for small businesses — the vast majority of firms in the U.S. — to begin offering 401(k) plans by increasing the tax write-offs available to those businesses for offering access to a retirement plan. "It will deliver billions in additional...

Maskot | Maskot | Getty Images Americans who save for college in 529 plans may soon have a way to rescue unused funds while keeping their tax benefits intact. A $1.7 trillion government funding bill passed Thursday by the Senate has a provision that lets savers roll money from 529 plans to Roth individual retirement accounts free of income tax or tax penalties. related investing news Americans need to save more for retirement, and they are about to get extra help Bob Pisani 2 days ago The House is expected to pass the legislation Friday, before a deadline to avert a government shutdown. More from Personal Finance: 10 ways to avoid the early withdrawal penalty for IRAs Retirement savers with lower incomes may be getting a federal 'match' 'Best' ways to maximize your tax deduction for charitable gifts The rollover measure — which, if it becomes law, would take effect in 2024 — has some limitations. Among the largest: There's a $35,000 lifetime cap on transfers. ...