Retirement Plan

Baltimore Behavioral Health Inc. says it has handed over some documents demanded by the federal government as part of an investigation into alleged shortfalls in the retirement plan at the West Pratt Street mental health clinic. Employee tax records were provided Monday, the day before a scheduled hearing in federal court on the matter, according to a court filing. The U.S. Labor Department sued BBH and chief executive William "Kris" Hathaway in October, alleging that they had failed to comply with two administrative subpoenas issued in May. The clinic said Monday in court papers it had turned over employee W-2 forms.

When the federal government recently raised the benefits for Social Security recipients, it also lifted the amount of money you can salt away in tax-friendly retirement accounts. Beginning next year, you can put away up to $17,000 - $500 more - in a 401(k), 403 (b) and most 457 plans. Catch-up contributions for workers 50 and up, though, remain at $5,500 a year. Workers, covered by a retirement plan on the job, can make a full or partial tax-deductible contribution to a traditional IRA if their adjusted gross income doesn't exceed $68,000 for singles and $112,000 for joint filers.

Each morning, Monday through Friday, I'll hook you up with reading material to skim through as you slug down coffee and slack off at the start of your workday -- that way I'll have an excuse to do the same at the start of mine.   Running it back: Ray Lewis may retire if the Ravens win a Super Bowl this season . ... Joe Flacco is scheduled to play the first quarter of the Ravens' preseason opener at the Eagles on Thursday night, and rookie Tyrod Taylor will get most of the playing time after that . ... Domonique Foxworth, who is trying to make a comeback from a torn ACL, could miss the preseason opener . ... Cal Ripken Jr. acknowledged again Tuesday that he has an " itch to come back to the big league scene . " ... Buck Showalter got ejected in the Orioles' 4-3 loss to the White Sox on Tuesday.

Ever so slowly, the unemployed are getting hired. And if you're one of them, the next task will be to get your finances back on track. The latest government figures show that the median length of unemployment is 51/2 months — enough time without a paycheck to do a lot of damage. By then, you might have wiped out savings, dipped into retirement accounts or racked up credit card debt. Your credit record could be tarnished if you were late paying bills or defaulted. Getting back on sound financial footing will take some time — and a switch in mind-set.

When you retire at 65, you'll need 75 percent of your pre-retirement income to live comfortably in old age. And your money will have to last until you die at 92 — or 94 if you're a woman. These are some of the assumptions that investment firms make about us for retirement planning. But how do they come up with these numbers? It's part science — and a bit of art. Investment firms use statistics and studies to create dozens of assumptions, from when we are likely to retire and die to what future inflation rates will be or how much our 401(k)

It's not the end of the world. And even if it is, most folks in Maryland seemed ready to go down with a stiff drink and a serious belly laugh this week — even as believers nationwide prepared for a prophesied May 21, 2011, rapture. In Baltimore, people seemed more focused on the Preakness than on the apocalypse, though the end of the world was supposed to begin just as the race was about to start. Over the last week, "Save the Date" billboards began appearing around town, catching people's eyes as they motored past.

The U.S. Department of Labor has opened an inquiry into the employee retirement plan of a taxpayer-funded mental health clinic in Baltimore after former workers said money deducted from their paychecks as far back as 2009 never reached their retirement plan accounts. The government has instructed Baltimore Behavioral Health Inc. to provide an array of documentation related to its retirement plan, according to two certified letters obtained by The Baltimore Sun. The federal inquiry began around two weeks after The Sun reported Dec. 10 that two former employees at the nonprofit clinic had discovered unexplained shortfalls in their retirement accounts.

Pop culture says that men are from Mars and women are from Venus. But when it comes our finances, are we really worlds apart? Many financial experts say the two sexes are different enough that women can use advice tailored to fit their style and needs. And two new ventures under way in Maryland are trying to capitalize on that.  An Owings Mills accounting and investment advisory firm recently launched a practice catering to women-owned businesses. Peg Downey, a nationally known financial planner from Chevy Chase, and two colleagues are starting to train financial advisers on how to better communicate with and serve women clients.

For many workers, the 401(k) is the only retirement plan they have. And that makes it all the more important that their 401(k) is a good one. The differences between a good and mediocre plan — which might seem minor but add up over a 40-year career — can determine whether you'll enjoy comfy golden years or be forced to work longer to build an adequate nest egg. "They can differ dramatically," says Rockville financial planner Christopher...

Old enough to retire, but still working hard. Extraordinarily popular. Has served America, helping countless people. About to celebrate a milestone birthday, but poised to embark on new challenges to serve the nation better and more efficiently. Sounds like a senior's personal ad? It might make a good one, but it would hardly draw the tens of millions of people who love, rely on, and think about the subject of this short blurb. Our hero and object of affection? Social Security, which turns 75 Saturday.