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Jan 31, 2025 | 
under30ceo.com | Ashley N. Nielsen
The Alberta Investment Management Corporation (AIMCo) has laid off 19 employees, including the lead for its diversity, equity, and inclusion (DEI) program. AIMCo spokesperson Carolyn Quick said in an email that despite the reductions, the corporation remains committed to fostering an equitable and inclusive workplace. Quick did not specify which roles were cut or their locations but mentioned that the eliminated positions were in non-investment roles.
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Jan 31, 2025 | 
under30ceo.com | Ashley N. Nielsen
Warren Buffett’s recent investment decisions at Berkshire Hathaway have raised eyebrows on Wall Street. In the first three quarters of 2024, the company sold $133 billion worth of stock while only purchasing $6 billion, resulting in a net sale of $127 billion. This unprecedented move, coupled with Berkshire’s record $325 billion in cash and short-term investments, suggests that Buffett and his team are intentionally holding back from making large stock purchases despite having ample funds.
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Jan 31, 2025 | 
under30ceo.com | Ashley N. Nielsen
Warren Buffett’s Berkshire Hathaway holds a $296 billion portfolio. 39% of this is invested in 11 financial stocks. American Express and Bank of America are the second and third largest holdings, making up 16.3% and 12.1% of the portfolio respectively. Other significant financial holdings include Moody’s at 4.1%, U.S. Bancorp at 2.4%, and Bank of New York Mellon at over 1%.
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Jan 31, 2025 | 
under30ceo.com | Ashley N. Nielsen
The 4% rule has been a long-standing guideline for retirees when determining how much they can safely withdraw from their retirement savings each year. However, some financial experts are now suggesting that an 8% withdrawal rate may be more appropriate in the current economic climate. Dave Ramsey, a well-known financial advisor, argues that an 8% withdrawal rate is not only possible but also favorable for retirees over time.
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Jan 30, 2025 | 
under30ceo.com | Ashley N. Nielsen
The Commission on Government Forecasting and Accountability (CoGFA) recently released an actuarial analysis of a proposed bill to address issues related to state employees hired since Jan. 1, 2011. The bill, which did not pass last session, proposed four major changes to the Tier 2 pension system. Segal, the analyst, examined each change independently and also tabulated the total projected impact if all changes took effect.
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Jan 30, 2025 | 
under30ceo.com | Ashley N. Nielsen
The Social Security Administration (SSA) has announced that the implementation of the Social Security Fairness Act, which aims to increase benefits for certain workers, is facing delays. The measure, designed to end the windfall elimination provision (WEP) and government pension offset (GPO) that reduce or eliminate Social Security benefits for over 3.2 million people, will benefit workers whose jobs were not covered by Social Security.
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Jan 30, 2025 | 
under30ceo.com | Ashley N. Nielsen
JPMorgan Chase is being sued over its use of forfeited 401(k) assets. These assets are employer contributions that workers lose when they leave the company before being fully vested. The lead plaintiff says JPMorgan broke its duty under the Employee Retirement Income Security Act (ERISA). They claim JPMorgan used the forfeited assets to offset future contributions for other workers. The plaintiff argues this should have been used to reduce expenses for all plan participants.
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Jan 29, 2025 | 
under30ceo.com | Ashley N. Nielsen
We are going further and faster to kick start economic growth so we can put more money in people’s pockets.https://t.co/9zNY2pSzGH— Rachel Reeves (@RachelReevesMP) January 28, 2025The UK government has proposed changes to pension fund rules, aiming to unlock £160 billion in surplus funds for businesses to invest in the economy. Chancellor Rachel Reeves and Prime Minister Sir Keir Starmer met with CEOs of major companies to discuss plans to reduce red tape and stimulate growth.
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Jan 29, 2025 | 
under30ceo.com | Ashley N. Nielsen
DeepSeek, a Chinese AI startup, has sent shockwaves through Silicon Valley with its new AI model, DeepSeek-R1. The model reportedly matches the performance of leading American AI models at a fraction of the cost. DeepSeek claims to have achieved this by using clever engineering to substitute for raw computing power. Jevons paradox strikes again! As AI gets more efficient and accessible, we will see its use skyrocket, turning it into a commodity we just can't get enough of.
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Jan 29, 2025 | 
under30ceo.com | Ashley N. Nielsen
JPMorgan Chase is facing a class-action lawsuit over its use of forfeited 401(k) assets. The lead plaintiff alleges that the firm breached its fiduciary duty under the Employee Retirement Income Security Act (ERISA). The complaint accuses JPMorgan of using forfeited plan assets to offset future contributions for other employees. The plaintiff argues this should have been used to reduce expenses for all plan participants instead.
