14

After a bit of searching, I found a Wall Street Journal article from 2012, “MetLife Settles Unclaimed Life-Benefit Probe”, and a follow-up article the same year “Michigan Joins Metlife Settlement Regarding Unclaimed Life Insurance Benefits”. Apparently, MetLife was involved in a class action suit in 2012 regarding their practice of closing life insurance ...


7

He was told he will not receive any tax documentation for this settlement. This also means that the IRS will not receive any tax documentation for this settlement. Forms documenting taxable income, such as W-2 and 1099, are sent in duplicate (effectively) to the taxpayer and the IRS, and this is the primary way the IRS knows about income. The IRS does not ...


3

In most cases, if you are a member of the class the law-firm will contact you via postal mail to notify you of the class action and give you an opportunity to opt-in or opt-out of participating in any settlement that happens. More often than not, they take the opt-out approach, meaning that if you don't say you want out of the class it is assumed that you ...


3

From an article Can an IRA be Taken in a Lawsuit it would seem that the IRA offers less protection than the 401(k). This is consistent with other articles I've read. You don't ask about divorce. In a divorce, the 401(k) is fair game and it's one of the times such accounts can be transferred to another individual with no tax consequence. This is through the ...


3

The deadline for submitting a claim was September 4th, 2016 - therefore you are no longer eligible. That being said, you probably did not miss much. According to the settlement notice you can expect to be paid about 14 cents per share, on claims exceeding $10 (below $10 you don't get paid). Read the settlement notice for more info.


3

No. You shorted the stock so you are not a shareholder. If you covered your short, again you are not a shareholder as you statement of account must show. You cannot participate in the net settlement fund.


2

Well this is not the best situation. Sorry to your friend. First off ROTHs are out, you need earned income. Secondly, I don't think the focus should be on retirement planning until there is again an earned income. Thirdly, this person is just in a bad spot. Lets assume that you can find some really good mutual funds, that consistently return 10% per ...


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