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Keyword: retirees

Brevity: Headers | « Text »
  • Soldiers' identities used as a way to scam people. Army leads in FTC fraud complaints

    03/15/2015 7:02:40 AM PDT · by SandRat · 2 replies
    FORT HUACHUCA — Defending against love when it is part of a scam is what soldiers have to do, along with watching out for more personal identity attacks against them. In a February release of reports gathered in 2014, and published by the Federal Trade Commission, two of the 102 pages dealt with statistics involving America’s armed forces. Fort Huachuca Spokeswoman Tanja Linton said, just like the nation’s civilian community, service members — men and women — and their families are targets of scammers. In the FTC Consumer Sentinel Network Data Book, the Army, which is the largest service in...
  • The Destruction of America’s Pension Plans

    12/14/2014 9:00:16 AM PST · by Oldpuppymax · 18 replies
    Coach is Right ^ | 12/14/14 | Suzanne Eovaldi
    The just passed $1.1 trillion Cromnibus (Continuing Resolution and Omnibus) check float that successfully got through the Republican controlled US House contains language that could gut pension plans, according to analyses by both conservative and leftist web writers. “The pension provision was made public late Tuesday night,” says a web source that blasts efforts to write down public pension allotments. (1) Mike Adams of Health Ranger warns that “all the pension benefits that have been promised government retirees are about to be stolen back from retirees.” (2) Quoting a WaPo article, Adams also points out that “the proposal would torpedo...
  • 5 reasons not to retire in the U.S.: Number of retirees overseas has more than doubled in 10 years

    08/08/2014 5:22:04 AM PDT · by SeekAndFind · 31 replies
    MarketWatch ^ | 08/08/2014 | By Quentin Fottrell,
    More than half a million retirees receive their Social Security benefits abroad, according to International Living , a monthly newsletter focusing on retiring overseas. The Social Security Administration currently sends 613,650 retirement-benefit payments outside the U.S., more than double the 242,128 benefit payments sent abroad in 2002. And even that data likely under-represents the actual number of Americans retired overseas, says Dan Prescher, 60, special projects editor of the newsletter. (International Living gets much of its financial support from advertisers who sell overseas real estate to retirees, and other services for those wishing to relocate.) “San Diego has some of...
  • Working-class whites lose voting dominance in Ohio

    07/22/2014 7:14:32 AM PDT · by Olog-hai · 12 replies
    Associated Press ^ | Jul 22, 2014 9:20 AM EDT
    For the first time, working-class whites make up less than half of Ohio’s eligible voters, part of a demographic shift in a key Midwestern swing state that is pushing political parties to widen their appeal beyond the once-dominant bloc. Nationwide, working-class whites—defined as those ages 18 to 64, with less than a bachelor’s degree—are more likely to be socially conservative, less optimistic about their futures and skeptical of big government. But in Ohio, the group has been much more politically divided: encompassing deeply religious, GOP-leaning conservatives in rural areas as well as unionized blue-collar Democrats in cities. Now, those voters...
  • Detroit retirees back pension cuts by a landslide

    07/22/2014 6:54:56 AM PDT · by Olog-hai · 9 replies
    Associated Press ^ | Jul 22, 2014 9:13 AM EDT
    A year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history. Pension cuts were approved in a landslide, according to results filed shortly before midnight Monday. The tally from 60 days of voting gives the city a boost as Judge Steven Rhodes determines whether Detroit’s overall strategy to eliminate or reduce $18 billion in long-term debt is fair and feasible to all creditors. Trial starts...
  • ATT Retiree Medical QuestionRE;Dumped to private exchange

    05/29/2014 7:33:34 AM PDT · by CGASMIA68 · 11 replies
    5/29/14 | cgasmia68
    Question for any retired medicare ATT Freepers that are being dumped by ATT on to AON Hewitt. Have you been to any meetings and if so how bad are we going to take it. Have you spoken to the "licensed insurance rep" for you area? I haven't been to any thing as yet but trying to get a feel for this and get more info but its all reallll vauge and I am sure we are going to take it up the wazoo real bad. Freepmail me if you like. Thanks
  • MILITARY UPDATE: Luring current force to ‘reform’ its own retirement

    05/17/2014 8:30:06 AM PDT · by SandRat · 21 replies
    Sierra Vista Herald
    Current military members and retirees are to be “grandfathered” from any retirement changes that the Military Compensation and Retirement Modernization Commission recommends to Congress next February. Current force members shouldn’t let that dampen their interest in the work of the commission or its final recommendations, because any retirement reforms proposed almost certainly will include an “opt-in” feature. Many currently serving members will get the chance to choose to switch to a more modern, less generous retirement plan. Who would do that? If past behavior is a reliable guide, thousands will. Economists use the term “personal discount rates.” More simply, its...
  • Top 10 Cars for reitrees (Is your car on this list?)

    05/12/2014 9:47:14 AM PDT · by mkleesma · 101 replies
    Ridelust.com ^ | Unknown | Dustin Driver
    With most consumers favoring smaller foreign cars and the US auto industry seemingly headed for the toilet, there is still one demographic that Detroit has a solid hold on… Retirees. Buyers over 65 are the last hope for the good old American car. In some dealerships, upwards of 85 percent of all Buick buyers are 55 and older. That’s an ominous sign for the future of American autos. The over-65ers look at brands like Buick, Lincoln and Cadillac as status symbols. Those brands have what advertisers call the “Mind Share” in that demographic. Retirees remember a time when the only...
  • Obama plan: Cut tax breaks for richest retirement savers

    02/21/2014 10:56:56 AM PST · by reaganaut1 · 60 replies
    Market Watch ^ | February 21, 2014 | Robert Powell
    President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. According to the report, the proposals are designed to direct more of...
  • Increased Military Spending On The Back Of DISABLED Military Retirees?

    12/18/2013 6:14:52 PM PST · by SkyPilot · 11 replies
    Political Outcast ^ | 18 Dec 13 | Mark Horne
    The Ryan budget deal keeps getting better and better. And by “better,” I mean much worse. When I wrote about the cut for military retirees, I mentioned the possibility that this might be the only income some of them have. The original sequestration had wonderful priorities in exempting personnel. Ryan is sacrificing those who have already served for the sake of more war power abroad. We already have a military that spends as the next ten nations combined. Why take away from military retirees (some of whom are completely dependent on that income exclusively) to feed an institution that...
  • Military retirees 'screwed' in budget deal

    12/18/2013 6:13:57 AM PST · by BlatherNaut · 12 replies
    CNNMoney ^ | 12/18/13 | Jenifer Liberto
    Military retirees are getting "screwed" by a budget deal expected to pass the Senate on Wednesday, said Sen. Lindsey Graham. "Is the choice between keeping the government open and screwing all the military retirees? Is that that right choice?" said Graham, Republican from South Carolina.
  • Military retirees: You betrayed us, Congress

    12/12/2013 11:24:42 AM PST · by Sleeping Freeper · 182 replies
    cnnmoney.com ^ | 12/13/13 | Jennifer Liberto
    <p>Military retirees are outraged that Congress will start voting Thursday on a budget deal that trims military pensions, calling the move "an egregious breach of faith."</p> <p>The Military Coalition, some 27 military groups, wrote to leaders in Congress and President Obama late Wednesday about their "strong objection" and "grave concern" over the budget deal.</p>
  • Time Warner to move retirees to health care exchanges

    09/08/2013 3:18:51 PM PDT · by Nachum · 8 replies
    Rueters ^ | 9/8/13 | staff
    Time Warner Inc is planning to transfer its U.S. retirees from company-sponsored health plans and move them to private insurance exchanges. According to an August memo obtained by Reuters, the media company will make allocations to a Health Reimbursement Arrangement account for retirees to use towards the purchase of coverage on an exchange. Previously, Time Warner provided an indirect subsidy through a supplementary Medicare program.
  • Citing costs, IBM to move retirees off health plan

    09/07/2013 7:49:24 AM PDT · by lowbridge · 78 replies
    http://www.foxnews.com ^ | september 7, 2013
    International Business Machines Corp. plans to move about 110,000 retirees off its company-sponsored health plan and instead give them a payment to buy coverage on a health-insurance exchange, in a sign that even big, well-capitalized employers aren't likely to keep providing the once-common benefits as medical costs continue to rise. The move, which will affect all IBM retirees once they become eligible for Medicare, will relieve the technology company of the responsibility of managing retirement health-care benefits. IBM said the growing cost of care makes its current plan unsustainable without big premium increases. IBM's shift is an indication that health-insurance...
  • U.S. cities to retirees: Don’t count on health insurance, either

    08/06/2013 4:33:35 PM PDT · by Olog-hai · 17 replies
    Reuters ^ | Tue Aug 6, 2013 7:33am EDT | Mark Miller
    Chalk it up as an unintended consequence of Obamacare: a growing number of U.S. employers are aiming to cut their healthcare costs by shifting retirees into the law’s new public insurance exchanges, which launch this October. Detroit, which filed for bankruptcy, hopes to push retirees who are too young for Medicare onto the new public insurance exchanges as a way of shedding healthcare liabilities. Chicago has proposed a plan to migrate most of its 30,000 under-65 retirees to the state exchanges by 2017. And, in the private sector, more than 60 percent of employers are reassessing their retiree health coverage...
  • Citing Obamacare, Employers Tell Retirees To Seek Their Own Coverage (shifting cost to government)

    08/06/2013 6:02:48 AM PDT · by Zakeet · 28 replies
    Forbes ^ | August 6,2013 | Bruce Japsen
    Employer retiree health care coverage, which has been deteriorating for years amid high health care costs and waning employer interest, is headed for bigger changes thanks to the Affordable Care Act, a new study shows. More than 40 percent of employers have eliminated their traditional group health coverage for retirees over the age of 65 in favor of giving these former employees a defined amount of money for them to buy their coverage on the individual Medicare plan market, according to a new survey of more than 540 companies by employee benefits consulting firm Aon Hewitt (AON). For most of...
  • Pension Payments to Retirees Dropping 9.6 Percent

    03/01/2013 9:52:50 PM PST · by Alaska Wolf · 5 replies
    WMTV-Maqdison ^ | March 1, 2013 | Associated Press
    Pension Payments to Retirees Dropping 9.6 Percent Posted Friday, March 1, 2013 --- 2:54 p.m. MADISON, Wis. (AP) -- Retired public employees in Wisconsin will see their monthly pension payments decrease by 9.6 percent starting in May. The Department of Employee Trust Funds announced the cut on Friday. It had warned in December that the cut could be as high as 13 percent.
  • President Obama's Cat-Food Future For Retirees

    01/17/2013 7:58:38 AM PST · by IBD editorial writer · 30 replies
    Investor's Business Daily ^ | 16 Jan 2012 | Editorial
    The Obama Economy: Americans are drawing down their 401(k)s for nonretirement needs in record numbers, just as Social Security goes bust. This portends poverty for millions as the White House fiddles. Cat food, anyone? One out of four U.S. workers with 401(k) retirement savings accounts has been forced to cash them out or borrow from them at high costs just to stay solvent. The Washington Post, citing a report from financial advisory firm HelloWallet, said the withdrawals have drained $70 billion, or an astonishing near-quarter of the total $293 billion, in America's retirement accounts "undermining already shaky retirement security for...
  • V.P. Candidate Paul Ryan Speaks to Retirees in Florida

    08/18/2012 6:18:00 AM PDT · by sheikdetailfeather · 21 replies
    CSPAN ^ | 8/18/2012 | CSPAN
    Washington, DC Saturday, August 18, 2012 Republican Vice Presidential candidate Paul Ryan will speak at a retirement community in Florida, Saturday. Ryan will be accompanied by his mother, Elizabeth “Betty” Ryan Douglas, when he speaks at The Villages, the world’s largest retirement community. His mother lives in Florida for part of the year and spend the rest of her time in Wisconsin.
  • Obam's "Populist" Tax Platform Puts Retirees at Risk

    07/10/2012 5:59:56 AM PDT · by Innovative · 4 replies
    Yahoo Finance ^ | July 10, 2012 | Josh Brown
    President Obama on Monday reiterated his push to extend the Bush Tax cuts for the middle class but not the 2% of U.S. households making more than $250,000. But millions of middle class Americans are at risk of higher taxes if no action is taken before Jan. 1, notes Josh Brown, vice president of Fusion Analytics and author of The Reformed Broker blog. Specifically, Brown is concerned about the sharp rise in taxes on dividends and capital gains that will occur as part of the so-called fiscal cliff -- or "taxmageddon" if you prefer. If Congress fails to act, the...
  • Armed Forces Retirement Homes

    06/28/2012 8:16:50 PM PDT · by Kenika · 1 replies
    Self | 28 Jun 12 | Self
    I'm seeking additional comment pro/con regarding the Armed Forces Retirement Homes, especially in Gulfport MS. The website has ample information regarding history, application and views but I was hoping the ever helpful Freeper community had an up close and personal opinion on the operation of these homes. After all we (military) plunked $0.50 a month into them...they claim self sufficiency...
  • Non-Union Retirees Join “Hosed by GM Club”

    06/18/2012 3:01:50 PM PDT · by jazusamo · 15 replies
    National Legal & Policy Center ^ | June 18, 2012 | Mark Modica
    The president of the GM Retirees Association, Jim Shepherd, sent a scathing letter last week to GM CEO, Dan Akerson . The letter was in response to General Motors' decision to modify pension plans for non-union retirees. Mr. Shepherd stated that the non-union retirees wanted to express their "absolute consternation and disgust" and described the move by GM as not being only unfair but, "it is sheer irresponsibility and greed." So, on behalf of its many members, I now welcome the GM non-union retirees to the "Hosed by Government Motors Club." As I mentioned when I welcomed Canadian taxpayers to...
  • A Victim of the Regime's White-Collar Payback

    03/08/2012 5:06:56 PM PST · by Tolerance Sucks Rocks · 4 replies
    The Rush Limbaugh Show ^ | March 7, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Cheryl in Fort Wayne, Indiana, where the Indianapolis Colts' flags are at half-mast. CALLER: (chuckles) Hi, Rush. RUSH: Hi. CALLER: Thanks for taking my call. RUSH: You bet. CALLER: I wanted to talk about the crony capitalism from a personal standpoint for myself. My husband was an engineer with Delphi, which is part of GM. And when the bankruptcy was taken care of and the auto bailouts and the whole thing that Obama's so proud of, what most people don't know is what happened to the salaried retirees from Delphi in the whole deal. The union people...
  • Budget debate pits military retiree interests against those in active duty, analysts warn

    02/09/2012 11:53:33 AM PST · by baileybat · 3 replies · 2+ views
    Government Executive ^ | February 8, 2012 | Amanda Palleschi
    Military personnel costs for retirees versus active-duty service members are among the “most politically sensitive” competing interests within the fiscal 2013 Defense Department budget process, according to a new analysis from the Center for Strategic and Budgetary Assessments. Andrew Krepinevich, CSBA’s president, called personnel costs in the future years’ defense plan “the 600-pound gorilla,” and CSBA senior fellow Todd Harrison urged leaders to address the uncomfortable topic now. http://www.govexec.com/defense/2012/02/budget-debate-pits-military-retiree-interests-against-those-active-duty-analysts-warn/41141/
  • Gingrich Campaign Slams Virginia Primary System After Failing to Qualify for Ballot

    12/24/2011 8:29:18 PM PST · by no dems · 116 replies
    FOX News ^ | December 24, 2011 | Associated Press Staff
    Presidential hopeful Newt Gingrich's campaign attacked Virginia's GOP primary election system on Saturday for keeping him off the state's March 6 Super Tuesday ballot. The state party said that Gingrich, who lives in Virginia, had failed to submit the required 10,000 signatures to appear on the ballot. The Gingrich campaign responded that "only a failed system" would disqualify Gingrich and other candidates. It said Gingrich would pursue an aggressive write-in campaign, although state law prohibits write-ins on primary ballots. Gingrich campaign director Michael Krull said in a statement: "We will work with the Republican Party of Virginia to pursue an...
  • payroll tax cut = Social Security cut

    12/22/2011 11:13:47 AM PST · by jyro · 11 replies
    The payroll tax cut is a social security tax cut. The program is already deeply in the red because of congress spending all the money. Democrats want to end Social Security by stopping the funding of it. Why isn't it being advertised as this by Republicans.
  • Dad Fights Zoning Board's Order to Destroy Backyard Tree House

    10/17/2011 6:06:46 PM PDT · by Immerito · 51 replies
    Fox News ^ | October 17, 2011 | Todd Starnes
    A zoning board in Fairfax County, Va., is standing firm in its decision to order a war veteran to destroy a tree house he built for his two young sons. County officials determined Mark Grapin, an Army aviation specialist, violated zoning regulations when he built a tree house in his backyard. “The boys wanted a tree house,” Grapin told Fox News Radio, explaining it was a promise he made to his 8-year-old and 10-year-old sons before he left for Iraq. “It was a commitment I made to the boys and, frankly, we should do our best to keep our commitments...
  • Critics Spin Energy Realities to Oppose Development

    09/02/2011 10:11:48 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | September1, 2011 | David Holt
    With our economy continuing to falter, the discussion of leveraging our nation’s vast energy resources to create jobs is taking on renewed importance. Despite a well-established link between energy production and job creation – just observe the unemployment rates of North Dakota (3.3%) and Oklahoma (5.5%) and you’ll see it – some have sought to downplay the economic opportunities provided by the development of our abundant offshore and onshore resources, while others strangely claim that the opportunities for offshore production have actually increased. For example, Duke University’s Bill Chameides recently wrote that “drilling activity in the [Gulf of Mexico’s] deepwaters...
  • Military braces for cuts in debt reduction bill that could impact Texas [and the nation]

    08/02/2011 9:08:50 PM PDT · by Racehorse · 35 replies
    San Antonio Express News ^ | 2 August 2011 | Gary Martin
    Defense Department officials are bracing for potential spending cuts in a deficit-reduction deal approved by Congress that could have financial impact on Texas and states with military bases and personnel. Weapons systems, ships and aircraft could provide a target for a new congressional commission formed to find budget savings, but benefits and personnel reductions are also on the table. Former Defense Secretary Robert Gates warned that the armed services must prepare for spending restraints not seen over the past two decades, and he called for a review that includes a reduction in personnel, military pay and retiree benefits. That could...
  • The Mormon retirement plan

    06/29/2011 9:25:18 AM PDT · by greyfoxx39 · 15 replies
    Washington Post ^ | June 27, 2011 | Mike Otterson
    ...the National Institute on Aging says that 2011 is a banner year in American demographics.-SNIP- Yet an increasing number of older couples from The Church of Jesus Christ of Latter-day Saints are serving in a multitude of ways around the world. At last count, that number stood at just over four thousand retirees. Their “missionary” service, lasting from six months to three years, is as varied as relief work in Africa or Central America or staffing the church’s temples, employment centers and welfare facilities.-SNIP- These are selfless individuals whose approach to retirement means no small sacrifice. Like their young missionary...
  • The Millionaire Retirees Next Door

    05/12/2011 1:07:54 PM PDT · by rightwingintelligentsia · 60 replies
    Wall Street Journal ^ | May 12, 2011 | John Cogan
    Readers may recall the 1950s TV show, "The Millionaire," which portrayed stories of individuals who were given a "no strings attached" gift of money by an anonymous benefactor. Each week in one of the show's opening scenes, a man representing the wealthy benefactor, John Beresford Tipton Jr., knocked on an unsuspecting recipient's door and announced: "My name is Michael Anthony and I have a cashier's check for you for one million dollars." That TV program is scheduled to return next year as a reality show, and the new recipients will be the typical husband and wife who reach age 66...
  • DOD Proposes Tricare Increases

    02/18/2011 9:15:41 AM PST · by katiedidit1 · 64 replies
    VFW Washington Weekly ^ | Feb. 18, 2011 | Teresa Morris
    DOD Proposes Tricare Increases: As expected, the Defense Department FY 2012 budget recommendation contains plans to raise Tricare enrollment fees for working-age military retirees — first by 13 percent, then by linking future increases to double-digit medical inflation. The Veterans of Foreign Wars of the U.S. is against both plans. "Asking someone to voluntarily give up 20 or more years of their youth on the simple promise of a pension and lifelong medical care for themselves and their spouses is a cost this nation and our government should be more than willing to bear," said VFW National Commander Richard Eubank....
  • Retirees Shocked By Lower Pension Payments (Pelosi forgets to renew Make Work Pay tax credit)

    01/17/2011 5:10:03 PM PST · by Libloather · 99 replies
    Retirees Shocked By Lower Pension PaymentsPERF: Shortage Tied To Expiration Of Tax Cut UPDATED: 6:19 pm EST January 17, 2011 INDIANAPOLIS -- Thousands of retired state and local government workers were shocked on Friday when they discovered that their monthly pension checks were substantially reduced. Workers were especially unhappy that they got no advance warning they would be receiving less money, 6News' Norman Cox reported. The Public Employees Retirement Fund said the shortage happened because one of the tax cuts in the federal stimulus package expired. A notification sent to retirees didn't get to them until after payments had arrived....
  • San Francisco Pension Deficit Deepens

    01/12/2011 1:03:31 PM PST · by NormsRevenge · 12 replies
    KCBS ^ | 1/12/11 | Barbara Taylor - KCBS
    SAN FRANCISCO (KCBS) – San Francisco’s pension fund for retired city workers is even worse off than projected. The city will have to contribute around $600 million next year to pay for pension costs. Last year, the Civil Grand Jury caught flack from city workers’ unions for predicting that San Francisco would have to contribute 17 percent of retirees pensions. As it turns out, it’s even higher – 18 percent, according to Supervisor Sean Elsbernd, who sits on the City’s Retirement Board. That’s 4.5 percent higher than last year, and it’s now projected to rise to 26 percent in three...
  • Here's The First 11 State Pension Funds That Will Run Out Of Money

    12/27/2010 9:10:59 AM PST · by dragnet2 · 179 replies · 10+ views
    businessinsider.com ^ | 12/27/210 | .businessinsider.com
    #1 Illinois #2 Connecticut #3 Indiana #4 New Jersey #5 Hawaii #7 Oklahoma #8 Colorado #9 Kansas #10 Kentucky #11 New Hampshire
  • Alabama Town’s Failed Pension Is a Warning

    12/23/2010 7:06:05 AM PST · by Poundstone · 61 replies · 2+ views
    CNBC ^ | December 23, 2010 | Michael Cooper and Mary Williams Walsh
    This struggling small city on the outskirts of Mobile was warned for years that if it did nothing, its pension fund would run out of money by 2009. Right on schedule, its fund ran dry. Then Prichard did something that pension experts say they have never seen before: it stopped sending monthly pension checks to its 150 retired workers, breaking a state law requiring it to pay its promised retirement benefits in full.
  • What About Medicare for a Federal Retiree?

    11/05/2010 7:40:18 AM PDT · by Poundstone · 9 replies
    FedSmith ^ | November 5, 2010 | Tammy Flanagan
    This year's Federal Employees Health Benefits Program open season starts on Monday, and runs through Dec. 13. Many federal retirees and those planning for retirement ask me, "Why do I need Medicare if I already have health insurance under FEHBP?" The fact is, in many cases it makes sense to have both FEHBP and Medicare coverage. That might involve switching to a different FEHBP plan in retirement that better matches with Medicare and your health care needs. Let's take a closer look at how Medicare might fit into your planning.
  • Federal retirees rate The Villages as ‘runaway favorite’

    09/02/2010 6:24:21 AM PDT · by Poundstone · 35 replies
    The Villages Daily Sun ^ | September 1, 2010 | David Corder
    THE VILLAGES — Renee Braun laughed as she read the introduction to the cover story in the September issue of the National Active and Retired Federal Employees Association magazine. “Yes, it should be The Villages,” exclaimed the Village of Summerhill resident who volunteers as the service officer for the association’s Orange Blossom Chapter 2234, serving The Villages and surrounding communities. “It definitely should be.” The Villages emerged as the “runaway favorite” among the 600 or so association members who responded to a magazine survey for a story on the best retirement communities.
  • Military Update: Pay raise approved for troops, but no cash for entitlements

    05/15/2010 7:06:50 AM PDT · by SandRat · 16 replies · 554+ views
    A House panel has voted to give the military a 1.9 percent pay raise next January. That would be a half percentage point higher than what the Obama administration wanted simply to match private sector wage growth. The House armed services subcommittee on military personnel panel also endorsed increases next year in hostile fire pay and family separation allowance, enough to restore the relative value of these payments to what they were in 2004 when they last were adjusted. But the same panel said the money tap is off for expanding entitlements to reserve personnel, disabled retirees or widows. “The...
  • US health-care reform may squeeze some firms, retirees

    03/31/2010 2:17:20 PM PDT · by NormsRevenge · 8 replies · 625+ views
    AFP on Yahoo ^ | 3/31/10 | Veronique Dupont
    NEW YORK (AFP) – The sweeping reform of the US health-care system could exact a high price on some businesses and deprive two million Americans of health insurance, industry and union leaders say. President Barack Obama on Tuesday signed a final, adjusted version of the health care reform bill into law, capping a historic overhaul that extends health insurance to an additional 32 million Americans. Congress, controlled by Obama's Democratic Party, passed the legislation without a single vote from Republicans, .. On Friday, telecommunications giant AT&T said it would take a one-billion-dollar charge in the first quarter of 2010 to...
  • The Safety Net Shreds

    03/29/2010 4:15:30 PM PDT · by Kaslin · 32 replies · 1,250+ views
    Investors.com ^ | March 29, 2010 | INVESTORS BUSINESS DAILY Staff
    Entitlements: Social Security's chief actuary reports that the social safety net will run a deficit for 2010, nine years earlier than predicted. Put down that big gavel, Madam Speaker, we're about to hit the iceberg. No sooner had House Speaker Nancy Pelosi, carrying the gavel used when Medicare was enacted, taken a victory lap around the Capitol Building after passage of the health care bill than did the chief actuary of the Social Security Administration report that his part of the social safety net had a big hole in it and would run a deficit for all of 2010. Stephen...
  • AP: Say, guess what we just found in ObamaCare! (retirees likely to drop prescription drug coverage)

    03/26/2010 6:10:34 PM PDT · by SeekAndFind · 83 replies · 3,287+ views
    Hotair ^ | 03/26/2010 | Ed Morrisey
    Congress passed the bill without knowing what was in it. Barack Obama signed it without reading it. Now it looks as though the Associated Press reported on ObamaCare without comprehending its content. Readers will have to scroll far down to discover that the elimination of a key tax break that kept retirees on company prescription-medication plans will mean dumping millions of seniors onto Medicare — and that the AP ignored it until now: The health care overhaul will cost U.S. companies billions and make them more likely to drop prescription drug coverage for retirees because of a change in how...
  • AP : Say, guess what we just found in ObamaCare !

    03/26/2010 9:37:09 AM PDT · by RobinMasters · 126 replies · 5,573+ views
    Hot Air ^ | MARCH 25, 2010 | ED MORRISSEY
    Congress passed the bill without knowing what was in it. Barack Obama signed it without reading it. Now it looks as though the Associated Press reported on ObamaCare without comprehending its content. Readers will have to scroll far down to discover that the elimination of a key tax break that kept retirees on company prescription-medication plans will mean dumping millions of seniors onto Medicare — and that the AP ignored it until now: The health care overhaul will cost U.S. companies billions and make them more likely to drop prescription drug coverage for retirees because of a change in how...
  • States' Unfunded Pension Obligations Top $360B

    01/13/2010 9:06:10 AM PST · by BobMcCartyWrites · 205+ views
    Bob McCarty Writes ^ | 1-13-10 | Bob McCarty
    State employee pension systems are facing severe shortfalls, and these growing liabilities threaten to drive many states deeper into the red, according to a new 50-state study released today by the American Legislative Exchange Council, the nation’s largest individual membership association of state legislators.
  • Third-Rail Shocker (Social Security Going Bankrupt Sooner)

    01/08/2010 5:17:09 PM PST · by raptor22 · 36 replies · 1,422+ views
    Investors.com ^ | January 8, 2009 | Investor's business Daily staff
    Entitlements: While a massive health care entitlement is fashioned in secret, another one, Social Security, is running deficits decades earlier than expected. We've been kicking the can down the road. We're out of road. As Bernie Madoff found out, any Ponzi scheme depends on a continuous inflow of new cash and new customers or the ever-expanding pyramid will totter and collapse. Social Security, dependent as it was on new workers paying the expanding benefits of retirees, is about to, much sooner than expected. As Ed Morrissey over at HotAir.com reminds us, Peter Orszag, now director of the Office of Management...
  • OPM pulling a fast one with Federal Retiree statements

    01/02/2010 1:10:28 PM PST · by Ikemeister · 36 replies · 2,732+ views
    vanity | 01/02/2010 | ikemeister
    I'm a Defense Department retiree and received my annual annuity statement from OPM the other day. We didn't get a cost of living adjustment this year, but I noticed my monthly payment went up. Upon closer examination, I saw that OPM had arbitrarily reduced my monthly withholding. Evidently, the administration wants us all to think we got a raise, only to find out we will owe the extra money back in 2011 (after the elections, of course). I did a quick survey of my former co-workers and the same thing happened to them. This is very unusual, since withholding amounts...
  • GM Sheds Billions In Costs Today

    01/01/2010 11:50:56 AM PST · by Reaganez · 40 replies · 1,669+ views
    gminsidenews.com ^ | January 1, 2010 | By: Nick Saporito
    Starting today, January 1, 2010, General Motors will be freed of billions in health care liabilities. Last May, as part of GM’s efforts to restructure out of court, they and the United Auto Workers union agreed to an amended version of the 2007 contract. Included in those revisions were for the union to take over nearly all of members’ health care costs. Prior to today GM was liable for nearly $2 billion per quarter in health care costs related to both active and retired UAW members. Starting today the UAW’s Voluntary Employee Beneficiary Association (VEBA) Trust will take over responsibility...
  • 3,000 Retired Educators Take Home Six-Figure Pensions (California, of course)

    09/20/2009 5:01:29 PM PDT · by ditchdigger · 28 replies · 1,072+ views
    Orange County Register ^ | 9/18/2009 | Tony Saveedra and Jennifer Muir
    Retired Capistrano Unified School District Superintendent James A. Fleming could face jail if convicted on a felony indictment charging him with using school resources to track his political enemies. But that won't stop his public pensions from rolling in. Fleming collects $141,331 a year in California state teacher retirement funds, on top of the $64,068 pension he collects from working 27 years in Florida. Even if convicted on the 2007 charges, both his pensions will remain untouched. Fleming is one of 3,090 educators in the California State Teachers' Retirement System who make at least $100,000 a year in taxpayer-guaranteed public...
  • Chrysler's Salaried Retirees Hire Chicago Law Firm

    05/04/2009 2:56:21 PM PDT · by Oldeconomybuyer · 25 replies · 1,716+ views
    Wall Street Journal ^ | May 4, 2009 | By Jeff Bennett
    DETROIT (Dow Jones) Chrysler LLC's non-union salaried retirees will be represented by the Chicago law firm Stahl, Cowen, Crowley Addis LLC as the auto maker continues through the bankruptcy process. [snip] "On one hand, in bankruptcy Chrysler will seek to cut off every liability that it can," National Chrysler Retirement Organization President Chuck Austin said in the statement. "On the other, the United Auto Worker-represented retirees have protection and government support that salaried retirees don't have. Our goal is to assure balanced and even treatment for all retirees."
  • BETRAYED AUTO RETIREES, BLUE-COLLAR & WHITE-COLLAR

    04/21/2009 5:59:02 AM PDT · by carolgr · 67 replies · 1,658+ views
    MICHAEL WESTFALL'S..AMERICAN CONSERVATIVES ^ | 4-19-2009 | MICHAEL WESTFALL
    The assault against auto retirees, both blue-collar and white-collar, by the very powers that should be protecting them, is a betrayal and a cultural tragedy. It is easy to make an honest case that auto retirees’ healthcare benefits are being collectively stolen from them, when they need them the most. It is interesting that many of the insulated duplicitous governmental politicians, who have been using their political pulpits to crush the auto retirees’ healthcare benefits, were the same politicians campaigning for healthcare for all Americans in the elections just a few short months ago. These are the politicians running our...