A flexible spending account is a handy tool that lets you put aside pre-tax money for medical expenses that aren’t covered by insurance. It lowers your income tax bill and means that you have money set aside for dental care and contact lenses. The problem with FSAs is that money in the account disappears at the end of the year, which is not necessarily December 31. Starting in 2013, though, there has been a little-known exception to that. [More]
Douglas received an unexpected delivery from UPS last week: a check from Fidelity Investments made out to Vanguard Fiduciary Trust Company for over $300,000, along with a bunch of 401(k) rollover paperwork that included the real account holder’s address, date of birth, SSN, and phone number. [More]
A California lawsuit is accusing GM of negligence for not including a stability control system as a standard feature on the Chevrolet Suburban. The lawsuit stems from a 2002 rollover involving a Suburban that killed a woman and her stepdaughter. GM paid the stepdaughter’s family almost half a million dollars to settle out of court.
“The safety benefits of stability control have been known to auto manufacturers since the mid 1990s,” Avila said. “But they delayed implementing because they felt that safety was not marketable, so instead of installing on the SUVs that needed it most because of their rollover problem, they put it on luxury SUVs and cars as a performance item.”
The federal government will require the inclusion of stability control systems by 2012, but GM will offer the systems on all models by 2010. Should automakers be required to install stability control systems? Tell us in the comments. — CAREY GREENBERG-BERGER