Banking & Financial Education Blog

Will a government pension reduce my Social Security benefits?

If you earned a government pension from a job not subject to Social Security tax withholding (“noncovered employment”) and are also eligible for Social Security benefits through a job where Social Security taxes were withheld, two provisions might reduce your benefits: the windfall elimination provision (WEP) and the government pension offset (GPO).

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Chart: Young Adult Milestones, 1975 vs. 2016

The following pie charts compare four common milestones of adulthood — getting married, having children, working, and living independently — achieved by young adults ages 25 to 34 in 1975 and 2016. The data indicates that the experiences of young people today are more diverse, with fewer accomplishing all four milestones in young adulthood. Instead, … Read More ›

Student Loan Debt: It Isn’t Just for Millennials

It’s no secret that today’s college graduates face record amounts of debt. Approximately 68% of the graduating class of 2015 had student loan debt, with an average debt of $30,100 per borrower — a 4% increase from 2014 graduates.1

A student loan debt clock at finaid.org estimates current outstanding student … Read More ›

Take Metra to Holiday Fun

Do you have visions of strolling past the Christmas tree at Millennium Park while snow softly falls, or taking in one of Chicago’s internationally renowned holiday shows but the thought of driving downtown and parking keeps you on the sofa? Change it up this year and let Metra be your ride to the magic that … Read More ›

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