+1.
I recall applying for SS and being told I'd be receiving reduced benefits. Because I had "non-covered" jobs for a lotta years. But I'd ALWAYS paid in. I had to go to the local office in person. Then they fixed their mistake. Stupid system, when they can say that to a guy like me.

I do not get why the SS office employees are trying to not give people their legitimate earned benefits. Who are they serving with their behavior? I do not understand their motives.

@Crash - not sure what you want translated. What are you looking for from a discussion of GPO/WEP? GPO is the most controversial, in my opinion, of the two since the entitlement of a widow who was a stay-at-home spouse is straight forward and not adjusted down. Not so for a working but not paying-in spouse who gets adjusted down based on an amount of other funding derived or partially derived from the money denied the SS system. But this question will probably never be addressed since a non-working widow still needs money. So, anything I say past "the winner is the non-working widow" will ignore this. Besides, it is becoming mute as most women must work today. Also, I am sure SS experts would take issue with any attempt a novice like me made to explain the calculations. I think, whatever the explanation, you must remember that this was instituted when the Greenspan Commission was trying to get SS through the Boomer years so anything saving money that also seemed equitable (like GPO/WEP) was a winner. My GPO conclusion I shared with an Actuary friend of mine (cut paste from my email) in 2007 was "I cannot see that widows that held government jobs that didn't pay into social security are treated any differently as widows who paid into social security. They both end up with the higher of their own or their spouse's social security benefit whether their own is earned from social security or non-social security plans." And the pay-in person would be offended by my conclusion since it feels like a penalty for working based on need.
That said, when Bush was pushing privatization schemes, I downloaded the AnyPIA program from SSA. It calculates entitled benefits. I only calculated benefits for a rather rudimentary design of varying pay-in patterns. Looking at dates on my emails to an actuary friend the time frame of these calculations was between 2003 and 2008. Most my GPO/WEP calculations were done, not from a point of view of the after-reduction amounts but were a what-if there was no reduction point of view. So it was, bottom-line, sufficient for my purposes but not exhaustive. That is why I recommend reading experts on the subject. I thought the two publications I selected were a good broad brush of the "why" story.
What I found was the salaries and salary patterns played a huge impact. For example, imagine the difference in pay-in of A and B, both working early in life at minimum wage paying SS taxes for the same 10 years, then, engineering degree in hand, B working for a utility company for 35 years and A working for a non-SS state government for 35 at the same identical salary each year as B. In the SS calculation A becomes a low wage worker with a return on investment based on minimum wage for 10 years. B becomes a high wage worker with a return on investment based on a high wage for 35 years. A is in the highest return on investment bend point for the SS calculation and B's position on the bend points would put him at a lower return on investment. This appeared to be the major source of the windfall that is spoken of. So, you end up with a Greenspan Commitee recommendation to bring "fairness" to the paid-in worker, which, when handed to the math geeks, ended up with WEP which, I think, has more built-in protection for the low wage worker.
Whereas I am clueless about fixing GPO inequity, it seems to me that, in today's information age that, if an equitable result was sought for WEP, it would be easy to generate an algorithm that took actual wage and wage pattern and combined it with a record of years paid in and years not paid in and come up with equal return on investment numbers for A and B.
Edit: I had to edit this because, after defining A and B, I proceeded to profile them backwards, so I just edited to make B the pay-in and A the non-pay-in.

20 Sept, 2024:
https://www.bloomberg.com/news/videos/2024-09-20/bloomberg-real-yield-09-20-2024
Sonal Desai. I always stop to pay attention to her. She says 50 basis points was overkill. Her idea of a neutral rate, looking forward, is 3.75% to 4.00%. ... Enormous fiscal deficits are frightening. She also agrees with the IMF which lately asserted that our latest adventure with inflation had less to do with supply shocks, and more to do with profligate fiscal policy. ... It's a mistake to think we'll get back to pre-covid interest rates. Some see that period of time as the "mark" to measure against. But, no way.
Oksana Aranov. She thinks 0.5% rate cut is too much, too soon, too....$7T of bonds still sitting on the Fed's balance sheet. (Holy ORK!!!!!). We are still in an era of higher for longer. Agreeing with Desai: these past 10-12 years are the ANOMALY, not the STANDARD by which to compare. And the Fed has never admitted the connection between fiscal policy and the inflation which is now shrinking, but it's not going to 2%--- which is the Fed's goal. The "high 4s" are more normal, which is what she sees in the days ahead, with an eye on the future.
Steven Oh: Circumstances remain supportive of HY bonds. Junk valuations are at best, fair to somewhat overvalued. (Chart: current junk yields are lowest in 28 months.) Junk is completing a 7-week run of gains. Junk default rates have peaked already and are on their way down.
There's an HYG chart you might take a look at. It got past me.

@stiller and other owners of this fund,
I bought this fund a year ago without researching into it. Now, I am thinking of increasing it as part of my effort to cleaning Growth clutter out of my portfolio and so I am taking a serious look at this fund.
Its total Tech sector allocation is 40% and its allocation to MSFT (11.5%) + AAPL (13.5%) is 25%, leaving only 15% to other companies in the Tech sector. The other constituents are less than 5% each.
Has this fund always been top heavy and has that ever given you a pause?
Thanks.
P.S.: Not terribly worried about MSFT and APPL taking up so much of the fund because the fund can exit these positions in one day without any effect on the price. M* fund analysis is glowing and gives it a Silver medal rating. For full disclosure, while the fund's YTD return performance is 12 percentile, the previous 3 years its percentile rank was 45, 26, and 57 (2023).

This has been going on a long time, especially ramped up at election time. In 2003, for example, Diamond and Orzag, made a sensible proposal that fit better into the information age:
Reforming the GPO and WEP
In Social Security
This proposal focuses, not on the years and money paid in, but, while giving credit for this, it also focuses on the years and money not paid in that could used for an alternate pension system or could be saved. The main goal is simple - put the state or non-profit worker into the proper bend point in the regular calculation.
This more recent discussion is pretty good:
Article by Kathleen Romig:
Repealing Social Security’s WEP and GPO Rules Would Be Misguided
I studied this myself years ago when, in my ignorance, I thought people were being treated unfairly. I discovered that, whereas the Greenspan crew did their best to bring fairness to an unfair reward for non-pay-in, the lack of computers of the era with the double problem of inadequate records of salaries made their solution rather broad but, perhaps, necessary. In today's world, it is simply not necessary to keep the current method of determining the GPO/WEB. We have computers and the data to do a fairer calculation.

+1.
I recall applying for SS and being told I'd be receiving reduced benefits. Because I had "non-covered" jobs for a lotta years. But I'd ALWAYS paid in. I had to go to the local office in person. Then they fixed their mistake. Stupid system, when they can say that to a guy like me.

Hi, Are we allowed to ask questions on this thread? If not, I will delete this post.
I have two Capital group ETFs, with dates of distribution but no amounts. In prior years, these 2 ETFs did not have any gain distributions. Pl post if members experience with Capital group ETF distributions is materially different. Pl do not reply with ETF structure answers.

'Tis that time of year again! Some preliminary estimates are now available. As in years past, please alphabetize your funds. To make it easier for readers post (new) next to your additions to differentiate it from your older existing posts. Be sure to check the entire page for other various posts with possible links. Thanks to everyone who contributes and posts their information! Please keep in the mind that it is early, and the estimates posted are tentative.
1919 Funds:
https://1919funds.com/pdfs/all/1919-Capital-Gains.pdf
AB Funds:
https://www.alliancebernstein.com/content/dam/alliancebernstein/us-retail/us-retail-pdfs/tax-center/FINAL_GEN-5796.pdf
abrdn Funds:
https://www.abrdn.com/docs?editionId=931def41-161f-48c8-8c9f-b09701494978
Aegis Value Fund:
https://www.aegisfunds.com/assets/pdfs/AVALX-Distribution-Estimate.pdf
Akre Focus Fund:
https://www.akrefund.com/historical-distributions/
Alger Funds:
https://www.alger.com/AlgerDocuments/Distrib_FUNDS.pdf
Alger ETFs:
https://www.alger.com/AlgerDocuments/Distrib_ETFs.pdf
Allspring Funds:
https://www.allspringglobal.com/globalassets/assets/public/pdf/product-alerts/20241015-productalert.pdf
American Beacon Funds:
https://www.americanbeaconfunds.com/downloads/resourcecenter/TaxAndDividend/American Beacon Fund Distributions Estimates 2024.pdf
American Beacon ETFs:
https://www.americanbeaconfunds.com/downloads/resourcecenter/TaxAndDividend/American Beacon ETF Distribution Estimates 2024.pdf
American Century Funds:
https://www.americancentury.com/plan/tax-center/estimated-distributions/
American Funds:
https://www.capitalgroup.com/individual/service-and-support/tax-center/2024-year-end-distributions.html
AMG Funds (updated; shows all AMG funds together rather than individually which are also listed below):
https://media.amg.com/content/dam/amgfunds/documents/AMG Estimated Capital Gains for December 2024 Distributions.pdf
Angel Oak Capital Funds:
https://angeloakcapital.com/2024-estimated-capital-gains/
AQR Funds:
https://funds.aqr.com/-/media/Files/Fund-Documents/2024-Estimated-Distribution-Memo.pdf?sc_lang=en&hash=8A43B5C9C164160A2801DFA759D6161B
Arbitrage Funds:
https://arbitragefunds.com/news
Ariel Funds:
https://www.arielinvestments.com/wp-content/uploads/2024/09/CapGains_Apprec_as-of-09.20.2024-estimate.pdf
https://www.arielinvestments.com/wp-content/uploads/2024/09/CapGains_ArielFund_as-of-09.20.2024-estimate.pdf
https://www.arielinvestments.com/wp-content/uploads/2024/09/CapGains_Focus_as-of-09.20.2024-estimate.pdf
https://www.arielinvestments.com/wp-content/uploads/2024/09/CapGains_International_as-of-09.20.2024-estimate.pdf
https://www.arielinvestments.com/wp-content/uploads/2024/09/CapGains_Global_as-of-09.20.2024-estimate.pdf
Aristotle Funds:
https://cdn.prod.website-files.com/642414d0e893bb9d9596f597/670878837f6d7402f3a257b2_Capital Gains Estimates_9.30.24.pdf
Artisan Partners Funds:
https://www.artisanpartners.com/individual-investors/resources/tax-center/distributions.html
Ava Marie Funds:
https://avemariafunds.com/fund-family/distributions.html
Avantis Funds:
https://www.avantisinvestors.com/avantis-estimated-distributions/
Baillie Gifford Funds:
https://www.bailliegifford.com/literature-library/funds/mutual-funds/estimated-capital-gain-distribution/
Baird Funds:
https://www.bairdassetmanagement.com/siteassets/pdfs/distributions/2024-estimated-capital-gains.pdf
Baron Funds:
https://www.baroncapitalgroup.com/tax-center?shareClass=Retail
BBH Funds:
https://www.bbhfunds.com/content/dam/bbh/external/bbhfunds/documents/fund-documents/2024/2024-BBH-Trust-Estimated-Yr-End-Distribution.pdf
Beutel Goodman Core Plus Bond Fund:
https://media.amg.com/content/dam/amgfunds/documents/Frontier_YE Estimates as of 10-10-24.pdf
Blackrock Funds:
https://www.blackrock.com/us/financial-professionals/literature/fact-sheet/blackrock-funds-distribution-estimates.pdf
BNY Mellon Funds:
https://www.bny.com/investments/us/en/individual/products/lt.html#year-end-distributions
Boston Common Global Impact Fund:
https://media.amg.com/content/dam/amgfunds/documents/Frontier_YE Estimates as of 10-10-24.pdf
Boston Partners Funds:
https://www.bostonpartners.com/uploads/2024/11/1137aa710e1db3680cf896547af7538b/boston-partners-funds-estimated-cap-gain-dist-oct-2024.pdf
Brandes Funds:
https://www.brandes.com/docs/librariesprovider6/default-library/publication/handout/brandes-mutual-funds-capital-gains-distribution-estimates-mutual-funds.pdf?sfvrsn=1329da10_39
Bridgeway Funds:
https://bridgewayfunds.com/wp-content/uploads/sites/2/2024/11/2024-Distribution-Estimates-for-Website.pdf?_gl=1*bsc1f7*_up*MQ..*_ga*MjA2MjEzMzc1MC4xNzMwNTc2OTEx*_ga_KTN790278L*MTczMDU3NjkxMC4xLjAuMTczMDU3NjkxMC4wLjAuMA..
updated:
https://bridgewayfunds.com/wp-content/uploads/sites/2/2024/12/2024-Distribution-for-Website.pdf
Brown Advisory Funds:
https://www.brownadvisory.com/sites/default/files/2024_Capital_Gain_Distribution.pdf
Brown Capital Management Funds (click distribution link on page):
https://www.browncapital.com/investmentstrategies/smallcompanyfundinv/
Bruce Fund: LTCG-$10.2163 & Ord Inc. $14.8248. No STCG.
Buffalo Funds:
https://buffalofunds.com/wp-content/uploads/Buffalo-Cap-Gains-Final-Estimates.xlsx

I'm male and single issue voter. I have too many women in my life I care about and don't want someone else making their medical choices for them. I'm hoping women come out of the woodwork to say Hell NO! DJT says he supports IVF but the GOP just blocked it in congress. I have a niece who wouldn't have a family if the GOP were in power 20 years ago and blocked IVF. She is a Trump supported... another one like many voting against their own self interests. I think she 's crazy but she watches FOX all the time and is a product of her environment.

These are the only 2 Rondure funds left with AUM of $98.88 million. So, will Laura Geritz focus on SMAs only? Before founding Rondure, Laura was at Wasatch and American Century.
Overseas ROSOX was shut in February 2024.
Barron's in 5/24/21 issue mentioned that older value investors were leaving the business or dying. Laura was mentioned as up and coming new generation of value investors with 10+ years ahead of them - well, not for Laura.
"VALUE has lagged badly for so long, that it is risky to pick the NEXT GENERATION of value hunters. But that didn’t stop Barron’s from coming up with the following list (all have 10+ years of career ahead of them).
Pierry PY, 44, Phaeacian (global PPGVX, international PPIVX). That is Greek for world travelers.
Mark COOPER, 52, MAC Alpha Capital (hedge fund). Also teaches at Columbia Business School.
Samantha McLEMORE, 41, Miller Value Partners (LGOAX) and Patient Capital (own new firm). Has small exposure to Bitcoins.
Clare HART, 50, JPM OIEIX. Looks for free cash flow yield and quality value.
Henry ELLENBOGEN, 48 and Anouk DEY, 35, Durable Capital. Dey also teaches at Columbia Business School.
Laura GERITZ, 49, Rondure Global (RNWOX, ROSOX ). Quality-contrarian looks for high returns and free cash flows."
All Rondure funds https://www.morningstar.com/asset-management-companies/rondure-BN00000J7W/funds
ROSOX closure https://www.mutualfundobserver.com/discuss/discussion/61877/rondure-overseas-fund-will-be-liquidated
Website https://rondureglobal.com/
Barron's issue summary at YBB site https://ybbpersonalfinance.proboards.com/thread/121/barron-24-2021-2

I like FCFAX+FATRX+THOPX.
IOFIX is dead to me for a couple of years. Instead use SEMMX.

@ FD. For several years the total return on CD’s killed bond funds for everyone but you. The situation was shorted lived but lots of risk free cash flow was fun while it lasted.

First, the question is about now.
Second, in the last 2 years the right bond funds killed CD...CBLDX made 15+%...OSTIX 20+%. There are better ones. The right bond funds have more to go. 2024 has been one of the easiest one to make money.
Third, I know others who have done well too.
But, if you like CD, by all means use them.

That was the reason I left TRP 3 or 4 years ago. Tried everything to stop the paper statements from coming (web settings, repeated phone calls / complaints). The worse thing was they were sporadic and unpredictable - not regular. Had one been delivered to an incorrect address or stolen from my rural mail box, I wouldn’t have even known it was missing. Horror show lasted about 6 months before I left. . (I’d been a TRP client 25-30 years before the issues began.)
There have been several threads here over the past few years about the poor customer service at TRP. Sounds like you’ve set / re-set the web-based account settings. Try phoning customer service. But don’t count on them resolving this. They couldn’t in my case.

Nuveen is a very big player in munis, and John Miller was the Head of that. He was known to throw his weight around, and no wonder, great deals came to him first - or he threatened to blacklist the issuers. But he was feared and there were lawsuits and one of them was settled. John Miller coincidently decided to retire after 30 years at Nuveen. My take away is that when someone is hurt too much, they have nothing to lose in striking back with legal tools. So, fear works best when used just to get positive cooperation and results.
https://www.planadviser.com/nuveen-muni-head-steps-heels-legal-settlement/
https://www.investmentnews.com/practice-management/nuveen-gets-new-muni-bond-leader-amid-lawsuit-settlement/236209
I am sure John Miller is good, but can he achieve the same things that he could at Nuveen? IMO, its the combo of individual talent & firm's resources.
As 2 examples, Jeff Gundlach did good on his own, but Bill Gross didn't (at JHG).

Been adding to home builder stocks, DHI (DR Horton) and PHM (Pultegroup). Still pretty small positions overall but I want to play the trend. My biggest holding in that arena is BLDR (Builders Firstsource) which I've bought and sold a few times over the years. Also been moving more MM cash to existing bond funds, CSOAX (Credit Suisse strategic income) and IGIB (iShares 5-10 Year Investment Grade Corporate Bond)... FWIW.

Sold SR/A (now callable) a few cents under par. The cap gains received are a years' worth of dividends and I can move the money into other opportunities.

@ FD. For several years the total return on CD’s killed bond funds for everyone but you. The situation was shorted lived but lots of risk free cash flow was fun while it lasted.

@mnz,
Your second post revealed a lot more.
Are you a trader? Welcome to my sandbox.
Most investors like to hold for a couple of years.
If you can predict rates in the nearest future, you can do pretty well. I also think that rates fell in anticipation for the Fed and why in the next several months we will not see the same magnitude.
BTW, FEHAX beat your funds for YTD and no Fed taxes.
About one manager VS a team. I made most of my money with special managers. They are the ones with great risk/reward.

If you liked ”CDs/Tbills/MMKT funds” a year ago, you should love them now. On a relative basis they’ve gotten cheaper. Both the S&P and NASDAQ are ahead more than 27% year-over-year. I wouldn’t be throwing new money into the latter.
“Walls of money” is a curious figure of speech. Apparently reference to cash-centric investors who were happy to settle for 5 - 5.5% returns, but who are disillusioned at the prospect of 4 - 4.5%? It’s all relative. The higher rates were available as consumer prices spiked 5 or 6% year-over-year. With annual price rises coming in at half that (or less) the return on safe money should be lower - a lot lower.
If the question is about where to get the best short-term interest rates now, it’s a good question. I don’t really know. You pretty much have to “go with the flow” and take what’s available (if you want super-safe money). If you have a 3 year time horizon … maybe short to intermediate term bond funds? NEAR was mentioned recently. I’m looking at that and also TDTT. For 5 years out I’m using CVSIX and LQDH for my conservative money. Should net a percent or so over cash. But over shorter periods both have the potential to lose money.
BTW - TBUX is highly rated. But it is what it is - an ultra-short bond fund. (“Nothing to see here. Move on.”)