CompaniesBIO

France’s showdown over a bill raising the retirement age from 62 to 64 heads toward a climax Thursday, either via a parliamentary vote or through a special presidential move to force it through the legislature. The Senate adopted the bill Thursday morning in a 193-114 vote, a tally that was largely expected since the conservative majority of the upper house of parliament favors a higher retirement age. The bill now moves to the lower house, the National Assembly, where its fate is uncertain. President Emmanuel Macron had an early morning meeting with some leaders of his centrist alliance to discuss the complex political situation in the National Assembly. He is expected to meet them again at noon. Macron’s alliance lost its parliamentary majority last year, forcing the government to count on conservative lawmakers to pass the bill. Leftists and far-right lawmakers are strongly opposed and conservatives are divided, making the outcome unpredictable. The French leader wants to raise th...

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. ...