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Keyword: retirement

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  • Treasury rejects plan to slash Teamsters pension benefits

    05/06/2016 7:34:51 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | May 6, 2016 6:01 PM EDT | Martin Crutsinger
    The Treasury Department on Friday rejected an effort by the Teamsters Central States Pension Plan to cut benefits for 270,000 retired workers starting in July. Treasury Secretary Jacob Lew said in a letter to members of Congress that while the decision blocks the pending pension cuts, it does not resolve the issue because the pension plan remains severely underfunded and is projected to become insolvent within the next 10 years. …
  • The market is going to suck for the next 10 years, you're going to have to double your life savings

    04/27/2016 5:26:17 PM PDT · by SeekAndFind · 37 replies
    Business Insider ^ | 04/27/2016 | Rachel Butt
    The "golden age" of stock market returns is over.That's the summary of a big piece of research from the McKinsey Global Institute (MGI), which estimated returns over the next 20 years in US and Western European markets under two scenarios. The first assumes that today's slow-growth environment remains, while the second models faster growth as technology improves.It concluded that in neither case would returns match those of the past 30 years. For US and European stocks, the difference between past and future annual returns could range from 1.5 percentage points to 4 percentage points. The gap for fixed-income could be...
  • One of the nation’s largest pension funds could soon cut benefits for retirees

    04/21/2016 8:26:05 AM PDT · by pabianice · 26 replies
    MSN ^ | 4/21/16 | Marte
    More than a quarter of a million truckers, retirees and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money. Within the next few weeks, the Treasury Department is expected to announce a crucial decision on whether it will approve reductions to one of the country’s largest multi-employer pension plans. The potential cuts are possible under legislation passed by Congress in 2014 that for the first time allowed financially distressed multi-employer plans to reduce benefits for retirees if it would improve the solvency of the...
  • US Faces ‘Disastrous’ $3.4 Trillion Pension Funding Hole

    04/11/2016 7:28:43 PM PDT · by Lorianne · 27 replies
    Financial Times ^ | 10 April 2016 | Attica Mooney
    The US public pension system has developed a $3.4tn funding hole that will pile pressure on cities and states to cut spending or raise taxes to avoid Detroit-style bankruptcies. According to academic research shared exclusively with FTfm, the collective funding shortfall of US public pension funds is three times larger than official figures showed, and is getting bigger. Devin Nunes, a US Republican congressman, said: “It has been clear for years that many cities and states are critically underfunding their pension programmes and hiding the fiscal holes with accounting tricks.” Mr Nunes, who put forward a bill to the House...
  • They Want Your IRA (White House pushes investors toward government accounts)

    04/10/2016 12:10:30 PM PDT · by Red in Blue PA · 40 replies
    President Obama’s regulators aren’t slowing down, alas. And on Wednesday they unveiled another part of their plan to push Americans out of private investment accounts and into government-run plans.
  • Sound the Alarm: New Obama Regulations Will Push Private Retirement Savings Into Government Accounts

    04/09/2016 5:29:50 PM PDT · by Libloather · 104 replies
    Townhall ^ | 4/08/16 | Katie Pavlich
    If you thought Obamacare was terrifying, just wait until you read about what President Obama's regulatory agencies are planning to do with your retirement savings. According to an alarming report in the Wall Street Journal, government regulators at the Labor Department will be implementing new rules at the end of the year that will eventually force private retirement investments into government accounts. How? By making private investment options, specifically IRAs, too burdensome, a liability and expensive. Bolding is mine.
  • Alex Rodriguez will retire after next season

    03/23/2016 11:55:14 AM PDT · by oh8eleven · 33 replies
    NY Post ^ | 23 March 2016 | Sports Desk
    The Yankees star told ESPN.com that he will hang up his cleats after the 2017 season when his contract with the team runs out.
  • How Men and Women Want Different Things in Retirement

    03/21/2016 5:02:05 AM PDT · by tlozo · 59 replies
    The Wall Street Journal ^ | March 20, 2016 | Lisa Ward
    A study finds that men are far more motivated than women to retire so they can spend time with their spouses. Spending more quality time with your partner is one reason to retire, right? Well, that may depend on whether you ask a man or a woman—and the difference may be a warning sign for men... While nearly 60% of men said having time to spend with their spouse or partner was a strong factor influencing their decision to retire, only 43% of women said the same. Far more women, 71%, cited the prospect of spending time with their grandchildren....
  • Graying of America could hit Sarasota hard

    03/14/2016 7:14:30 PM PDT · by Tolerance Sucks Rocks · 23 replies
    Tampa Bay Business Journal ^ | March 14, 2016 | Margie Manning
    The economic boom that Florida is experiencing now from population gains could lead to labor shortages and a drain on state resources in the future, according to a new report from the Federal Reserve Bank of Atlanta. Sarasota could be among the communities hardest hit by the graying of America, the report said. That’s because the city is an affluent community, and it may be hard for the caregivers who serve the elderly and tend to be lower paid to afford to live there, the report said.
  • Not ready to retire, but not finding work: The Over 50's in America

    03/12/2016 11:50:43 AM PST · by SeekAndFind · 107 replies
    Washington Post ^ | 03/12/2016 | Rodney Brooks
    A friend recently called to tell me he had been laid off from a company where he worked for more than a decade. He’s 60 years old and not ready to retire, either financially or emotionally. He is, however, prepared for the reality of the situation. He recognizes that he has a tough road ahead. He knows he probably won’t ever earn the salary he had. And even for a much lower-paying job, he’ll be competing with people half his age. Need proof of that? A GAO report in 2012, the most recent available, said unemployed workers 55 and older...
  • Here's how much the average US family has saved for retirement

    03/04/2016 8:35:23 PM PST · by MtnClimber · 75 replies
    Business Insider ^ | 3 Mar, 2016 | Kathleen Elkins
    Nearly half of American families have no retirement account savings at all. That's what the Economic Policy Institute (EPI) found in a new report, "The State of American Retirement," which dives into the retirement preparedness of American workers. The EPI broke down the percentage of families with retirement savings by age. Those between 56 and 61 are more likely to have an account (61%), while those between 32 and 37 are least likely to have one (51%). Scroll over the chart to see how the percentages have changed for different age groups over time: (chart at link) The average retirement...
  • REPORT: Feds Are Destroying Free Choice In The Retirement System

    03/01/2016 10:33:14 PM PST · by Mr Apple · 21 replies
    The Daily Caller ^ | March 2, 2016 | Connor D. Wolf
    Federal labor officials may soon destroy free choice in the retirement system by overhauling investment regulations, according to a report Wednesday. The Department of Labor (DOL) has argued people are just not knowledgeable enough to plan for their own retirement. It has proposed a rule to categorize more people...
  • Here’s why (and how) the government will ‘borrow’ your retirement savings

    02/27/2016 1:15:20 PM PST · by SkyPilot · 55 replies
    Sovereignman.com copied onto ZeroHedge ^ | February 15, 201616 copied by ZeroHedge on Feb 16 | Simon Black copied by Tyler Durden
    According to financial research firm ICI, total retirement assets in the Land of the Free now exceed $23 trillion. $7.3 trillion of that is held in Individual Retirement Accounts (IRAs). That’s an appetizing figure, especially for a government that just passed $19 trillion in debt and is in pressing need of new funding sources. Even when you account for all federal assets (like national parks and aircraft carriers), the government’s "net financial position" according to its own accounting is negative $17.7 trillion. And that number doesn’t include unfunded Social Security entitlements, which the government estimates is another $42 trillion. The...
  • U.S. Rep. Reid Ribble to retire later this year

    01/30/2016 11:09:42 PM PST · by Impy · 23 replies
    Milwaukee Journal Sentinel ^ | 1-30-16 | John Diedrich
    U.S. Rep. Reid Ribble (R-Wis.) announced late Saturday he will not seek re-election. The former roofing contractor from Neenah issued a statement saying he wanted to spend more time with his family.
  • WH Unveils ObamaSave: Employer Mandate, Mandatory Enrollment, State-Run Marketplaces

    Tuesday, the White House unveiled a plan to overhaul retirement savings that is eerily similar to ObamaCare in at least three fundamental ways. Introduced as a “Fact Sheet” on WhiteHouse.gov, Pres. Obama’s plan to revamp retirement savings mimics his controversial healthcare law: Individual participation is required, not optional, There’s an employer mandate, State-run marketplaces are created The employer mandate would require employers to “automatically enroll their workers in an IRA” – with, or without, their consent – making employee participation compulsory:
  • Obama Administration Waives Penalty Against Convicted Bank Credit Suisse (received pmts)

    10/27/2015 9:17:53 AM PDT · by Titus-Maximus · 12 replies
    International Business Times ^ | 10/26/2015 | David Sirota
    Only weeks after the White House made headlines with a directive urging prosecutors to get tougher on corporate crime, the Obama administration has moved to protect a convicted financial firm from punishment. The bank, Credit Suisse, has donated hundreds of thousands of dollars to President Barack Obama’s political campaigns. It also employs the Podesta Group, a lobbying firm with family connections to the Obama administration and Hillary Clinton’s 2016 campaign. In 2014, Credit Suisse pleaded guilty to criminal charges for operating “an illegal cross-border banking business that knowingly and willfully aided and assisted thousands of U.S. clients in opening and...
  • Rep. Israel: I’m leaving Congress because of fundraising

    01/17/2016 1:24:50 PM PST · by Olog-hai · 14 replies
    The Hill ^ | January 17, 2016, 06:00 am | Peter Sullivan
    Rep. Steve Israel (D-N.Y.) says the demands of fundraising helped drive him to retirement, and he is pushing for campaign finance reform. Israel, a prominent House Democrat who once headed up the Democratic Congressional Campaign Committee, announced earlier this month that he will not run for reelection. ...
  • Bernie Sanders: Let’s face it, I can appeal to Trump's voters

    12/28/2015 3:33:20 PM PST · by Kaslin · 60 replies
    Hot Air.com ^ | December 28, 2015 | ALLAHPUNDIT
    Preposterous. They’re nothing alike. Sanders is an unorthodox Democrat who supports universal health care and trade protectionism but also tighter borders and stronger gun rights than most liberals do. Trump, on the other hand, is … wait a sec. Hmmm. Where was I going with this again? The strangest thing: I've met a number of Trump rally attendees who say their top two are Trump and Sanders. Seriously. Or in reverse.— Sopan Deb (@SopanDeb) December 28, 2015 We’re in a weird place when Bernie Sanders and Ted Cruz are both competing to be the second choice of another guy’s base,...
  • Six Financial Mistakes People Make When Retiring Abroad: Do not run afoul of IRS rules

    12/18/2015 7:08:35 AM PST · by SeekAndFind · 16 replies
    Wall Street Journal ^ | 12/17/2015 | By ANNE TERGESEN
    Retiring abroad may sound idyllic. But those who fall short on financial planning can pay a big price. For the 380,000 retirees who live abroad, according to the Social Security Administration—up from 307,000 in 2008—the potential missteps are numerous. Amid a U.S. crackdown on money laundering, tax evasion and non-compliance with tax-reporting obligations, some expats are being cut off by their banks and brokerage firms. Others are running afoul of the Internal Revenue Service. Many are discovering that tax treaties don't always fully protect them from double taxation. "People rarely understand the complexity of cross-border moves," says Jonathan Lachowitz, founder...
  • Pushing Aside 401(k)’s for Mandatory Savings Plans

    12/17/2015 1:48:41 PM PST · by QT3.14 · 71 replies
    NYT ^ | December 11, 2015 | Mark Miller
    Tony James and Teresa Ghilarducci are unlikely allies. He is president of Blackstone, the giant private equity firm; she’s a labor economist who has long advocated replacing 401(k)’s with a universal, federally managed saving plan.But the two have teamed up to push what they are calling Guaranteed Retirement Accounts, a government-sponsored plan that would require participation and contributions from any employer without its own 401(k). They both view the 401(k) defined contribution retirement system as a faulty experiment that covers too few workers, generates inadequate savings and replaces too little income in retirement.
  • Martin Dempsey’s World Is Falling Apart

    09/26/2015 6:40:02 PM PDT · by Elderberry · 20 replies
    Politico ^ | 9/26/2015 | James Kitfield
    BERLIN—As his convoy sliced lights flashing through the busy streets of Berlin on a recent morning, Gen. Martin Dempsey could see a good part of his own career. He could see through the tinted windows of his limousine the bombed out ruins of the World War II-era Kaiser Wilhelm Memorial Church, and the Brandenburg Gate where the Iron Curtain once placed Germany on the front lines of the Cold War—and where as a young Army lieutenant Dempsey helped guard the border against massed Soviet and Warsaw Pact forces. Soon the convoy would arrive at the German Ministry of Defense where...
  • 8 Depressing Stats About America’s Retirement Savings

    11/28/2015 6:15:46 AM PST · by SeekAndFind · 89 replies
    Fund Reference ^ | 11/27/2015 | BY MICHAEL JOHNSTON
    Only a small percentage of Americans are positioning themselves for a smooth transition to retirement. Based on the composition of the financial media, one may imagine that the bulk of American households are consumed with avoiding psychological investing traps and choosing between the various forms of smart beta. Unfortunately, however, these “challenges” are only applicable to a small segment of the population that has meaningful financial assets (or a realistic plan to acquire them). Below are eight statistics that better illustrate the status of American retirement savings, pulled from multiple recent studies.33.7: Percentage of U.S. Households with an IRA According...
  • CIA’s Top Spy Steps Down

    01/23/2015 4:05:32 PM PST · by Enlightened1 · 8 replies
    The Daily Beast ^ | 01/23/15 | Shane Harris
    The secretive head of the agency’s National Clandestine Service is retiring amid reports of infighting over a reorganization of the intelligence service. The director of the CIA’s National Clandestine Service, the storied home of the agency’s most secretive intelligence operations, has announced that he plans to retire, The Daily Beast has learned. CIA spokesman Dean Boyd confirmed that the director announced his retirement “after a long and distinguished career at CIA. We thank him for this profound and lasting contributions to both CIA and to our nation’s security.”
  • Questions for Army Retirees

    10/27/2015 11:27:32 AM PDT · by Marie · 29 replies
    self ^ | 10/27/2015 | self
    Hello, FReepers! Hubs is getting ready to retire from the military and we're having some trouble getting straight answers on the TriCare Prime for retirees situation. Specifically, the family coverage. (I need it) Cost is the big one. I'm seeing everything from $555 a year to more than $960 a month. It's very frustrating because we're trying to figure out our post-retirement budget.
  • Illinois To Delay Pension Payments Amid Budget Woes: [Trunc]

    10/14/2015 12:31:43 PM PDT · by amorphous · 17 replies
    Zero Hedge ^ | 14 Oct 2015 | Tyler Durden
    By now, Illinois' budget problems are no secret. Back in May, after the State Supreme Court struck down a pension reform bid, Moody's move to downgrade the city of Chicago thrust the state's financial woes into the national spotlight. Since then, the situation hasn't gotten any better and despite hiring an "all star" budget guru (for $30,000 a month no less), Bruce Rauner was unable to pass a budget in a timely fashion leading directly to all types of absurdities including everything from the possibility of shortened school years to lottery winners being paid in IOUs. Now, as Bloomberg reports,...
  • Baby Boomers are going to struggle to retire

    10/13/2015 12:44:27 PM PDT · by 100American · 160 replies
    http://myirionline.org/ ^ | 2015 | Insured Retirement Institute
    The Insured Retirement Institute has concluded, baby boomers "face a dangerous combination of being under-saved and long-lived." The IRI found four in 10 baby boomers have nothing saved for retirement, and 37% of those who do have savings have less than $100,000 put away. This spells trouble for the average 65-year old male and female who have a 50% chance of living until at least 87 and 89, respectively. The IRI says someone who retires at the age of 65 today will need more than $1 million for retirement while someone who waits until age 70 to retire will need...
  • The Real Reason People Don't Save Enough for Retirement

    10/02/2015 6:30:09 AM PDT · by SeekAndFind · 48 replies
    The Atlantic ^ | 10/02/2015 | TERESA GHILARDUCCI
    Aesop would have had a straightforward explanation for why some people just can’t manage to save up for retirement: Some people are born ants—industrious and in possession of great willpower—while others are grasshoppers, living only for today. Millennia later, sorting workers into personality-specific boxes is still the preferred way of thinking about how to get people to put more money into savings. An otherwise thoughtful survey of over 1,000 individuals and interviews with 50 people by the MetLife Mature Markets Institute identifies no fewer than 10 different variations on the grasshopper: There are “Snoozers,” “Oversleepers,” “Stewers,” “Brewers.” And then there...
  • Lawmaker: Trey Gowdy to leave the House after 2016

    09/30/2015 7:04:38 AM PDT · by GIdget2004 · 44 replies
    Washington Examiner ^ | 09/30/2015 | PETE KASPEROWICZ
    Rep. John Fleming, R-La., said Wednesday morning that Tea Party favorite Rep. Trey Gowdy, R-S.C., won't run for a fourth term, and instead plans to retire at the end of the current Congress to return to his home state. "Trey wants to go back to South Carolina, and God bless him for that," Fleming said on C-SPAN. When asked if that's what Gowdy has told other Republicans, Fleming confirmed it. "At the end of his term, yes," he said. "He plans to go back home, and he wants to finish his work on the Benghazi special committee. But he loves...
  • Bill Gross' Latest: "Mainstream America Is Being Slowly Cooked Alive"

    09/23/2015 8:19:20 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 09/23/2015 | Tyler Durden
    While hardly as dramatic as Bill Gross' last letter in which he urged readers to "go to cash" as a result of the "Frankenstein creation" that ZIRP has created, his latest letter "Saved by Zero" takes a calmer stance and taking a page out of Paul Marshall's FT Op-Ed profiled yesterday, urges central banks to "get off zero" as the "developed world is beginning to run on empty because investments discounted at near zero over the intermediate future cannot provide cash flow or necessary capital gains to pay for past promises in an aging society. And don’t think that...
  • Obama Decree Unleashes “Behavioral Science” Squad to “Nudge” You

    09/19/2015 4:16:00 PM PDT · by Tolerance Sucks Rocks · 74 replies
    The New American ^ | September 18, 2015 | Alex Newman
    Prepare to be “nudged” by Obama's new “behavioral science” squads — for your own good, of course. Under the guise of better “serving” the American people through government, Obama signed an executive order this week calling for federal agencies and departments to deploy emerging “behavioral science” techniques against the public.Among other goals, the expansion of federal mind manipulation is supposed to help more Americans access government welfare programs, take their “recommended” vaccines, supply more information about themselves to the federal government, and accelerate the transition toward what Obama called “a low-carbon economy.” The controversial decree, signed on September 15, explicitly...
  • Floyd Mayweather to retire after equalling Rocky Marciano’s record

    09/13/2015 7:48:18 PM PDT · by SeekAndFind · 23 replies
    The Times ^ | 09/13/2015 | Ron Lewis
    Floyd Mayweather announced his retirement from the ring, as he promised, after a one-sided victory over Andre Berto in Las Vegas, but whether it really is the last time he boxes will only be shown over time. The American retained his WBC and WBA welterweight title with a unanimous points victory that was short on highlights to claim his 49th successive victory, equalling the unbeaten record of Rocky Marciano, the former world heavyweight champion. Marciano was 32 when he was last in the ring in 1955, having boxed in only seven world title bouts, although his exciting no-nonsense style ensured
  • Among those advising Obama on his future plans: Eva Longoria, report says (Freeper advice needed)

    08/18/2015 3:33:49 AM PDT · by Zakeet · 17 replies
    Fox News ^ | August 17, 2015
    Actress Eva Longoria is offering her advice to President Barack Obama on what he should do after leaving office in January 2017. According to the New York Times, the Mexican-American actress is part of a select group of high-profile people who are advising the president during midnight meetings at the White House.
  • Things to know about Social Security at 80: Is It Overhaul time?

    08/14/2015 5:06:42 AM PDT · by SeekAndFind · 27 replies
    Yahoo Finance via AP ^ | 08/14/2015 | By Stephen Ohlemacher, Associated Press
    Social Security turns 80 on Friday, and the massive retirement and disability program is showing its age. Social Security's disability fund is projected to run dry next year. The retirement fund has enough money to pay full benefits until 2035. But once the fund is depleted, the shortfalls are projected to be enormous. The stakes are huge: Nearly 60 million retirees, disabled workers, spouses and children get monthly Social Security payments, and that number is projected to grow to 90 million over the next two decades. And the timing is bad: Social Security faces these problems as fewer employers are...
  • 7 Reasons Women Are Getting the Heck Out of Dodge and Seeking Their Dreams Overseas

    08/03/2015 2:09:53 PM PDT · by lulu16 · 128 replies
    What do you do when you want something more and different than you’re getting in your home country? For an increasing number of 60+ women, the answer is to move overseas. According to the data we collected through our website, Best Places in the World to Retire, there can be a better life out there, if you are willing to uproot and reinvent yourself as an expat in Belize, Nicaragua or Panama. In addition to the over 5,000 answers and 200 stories on our website, in early July, we released Expats: Expectations & Reality, the first in a series of...
  • BLACKSTONE PRESIDENT: There's a hidden crisis in America that no one is talking about

    07/20/2015 8:08:48 AM PDT · by SeekAndFind · 19 replies
    Business Insider ^ | 07/20/2015 | Bob Bryan
    If you haven't taken it upon yourself to start saving for retirement, you could already be in trouble. Even worse, you could be part of a national crisis that's brewing under everyone's radars. In an earnings call Thursday, Blackstone president and COO Tony James articulated the problem and its origins. "I have the view that the hidden crisis in America that no one is talking about is what's going to happen with all of these 20, 30, 40-year-olds who no longer have corporate pension funds of defined benefit," he said. "So, they have got 401(k)s and they are making little...
  • No Jobs for the Young, No Retirement for the Old [Financial Insecurity rising for everyone]

    07/08/2015 2:35:31 PM PDT · by SeekAndFind · 18 replies
    Of Two Minds ^ | 07/08/2015 | Charles Hugh Smith
    We shouldn't wonder why people are working into their 70s--we should wonder why anyone retires, assuming they'll still be receiving their full pension in five years.You may have seen a variation of this chart of employment in the U.S. by age group. This chart--courtesy of mdbriefing.com-- shows the number of those employed (with any kind of job--full-time, part-time, self-employed) as a percentage of the Civilian Noninstitutional Population (CNP), which includes everyone 16 years of age and older who is not institutionalized or on active duty in the Armed Forces. A number of striking features pop out of this chart: 1....
  • The Coming Era of Pension Poverty

    07/02/2015 9:08:11 AM PDT · by SeekAndFind · 18 replies
    Of Two Minds ^ | 07/02/2015 | Charles Hugh Smith
    Assuming "growth" will fund all promised pensions and entitlements is magical thinking.The core problem with pension plans is that the promises were issued without regard for the revenues needed to pay the promises. Lulled by 60 years of global growth since 1945, those in charge of entitlements and publicly funded pensions assumed that "growth"--of GDP, tax revenues, employment and everything else--would always rise faster than the costs of the promised pensions and entitlements.But due to demographics and a structurally stagnant economy, entitlements and pension costs are rising at a much faster rate than the revenues needed to pay the promised...
  • Brett Favre in SI: 'I think I could play'

    06/30/2015 11:39:47 AM PDT · by afraidfortherepublic · 9 replies
    Milwaukee Journal Sentinel ^ | 6-30-15 | JS Sports Blog
    Brett Favre, wearing his old Green Bay Packers No. 4 jersey, is featured on the cover of Sports Illustrated this week as part of the magazine's "Where are They Now" issue. Favre voices many of the same thoughts he did back in October when Journal Sentinel reporter Tyler Dunne visited him at his home in Mississippi, talking about his life today, the physical toll the game took on him, his reconciliation with the Packers after the messy departure in 2008, and more. He also thinks he could still play in the NFL – sort of. "I think I could play,"...
  • A Costly Medicare Surprise Awaits Retirees

    06/24/2015 8:14:41 AM PDT · by mac_truck · 33 replies
    Kiplingers ^ | 6/17/2015 | Susan B. Garland
    Days spent in the hospital as an outpatient, rather than being officially admitted, can leave Medicare patients with bigger bills. It's bad enough spending three or more days in a hospital -- undergoing a barrage of medical tests and procedures. Brace yourself for even more pain at discharge if the hospital tells you that you were actually never admitted but were on Medicare "observation status." That designation could cost you big time. Hospitalized Medicare beneficiaries who are under observation are considered outpatients, even if they spend many days in the hospital. If you find yourself in this boat, there's a...
  • SHOULD WE RETIRE RETIREMENT?

    06/10/2015 7:37:19 AM PDT · by shortstop · 90 replies
    boblonsberry.com ^ | 06/10/15 | Bob Lonsberry
    I’m not sure retirement is a good thing. Not the way it’s done now. The way it’s done now, it seems to me that we’re marginalizing our most skilled workers, fostering idlers and turning old age into a near useless stage of life. It used to be that people didn’t retire. They worked til they died. And if they couldn’t work, hopefully their family or their church took care of them. But everyone who was physically and mentally able to do some useful task did so. The difficulty arose when people became what used to be called senile, or when...
  • Nearly one-third of Americans have no retirement savings

    05/28/2015 6:32:55 PM PDT · by SeekAndFind · 49 replies
    The Week ^ | 05/27/2015
    Only 63 percent of Americans have saved any money for retirement within the past year, according to a Federal Reserve survey released Wednesday.The survey of 5,800 Americans, conducted last fall, found that 31 percent of Americans have no retirement savings or pension plans. And among adults older than 45, almost 25 percent of respondents didn't have retirement savings. Thirty-eight percent of respondents, meanwhile, said they don't plan on retiring and will "keep working as long as possible," USA Today reports.
  • ‘Kiss your pension fund goodbye’? Economist warns government could seize 401(k)s

    05/25/2015 5:06:04 PM PDT · by SkyPilot · 81 replies
    Economic Collapse News ^ | 25 May 2015 | Andrew Moran
    The United States government could start seizing 401(k) plans, says one economist who believes a recent Supreme Court ruling sets the stage for Washington to initiate any such plans. Economist Martin Armstrong published a blog post Monday that took a look at the recent Tibble v. Edison case. The court concluded that employers have an obligation to protect their workers’ 401(k) plans from mutual funds that provide deplorable returns. Armstrong thinks this could give the federal government the arsenal to begin seizing private funds and take companies to court if mutual funds perform poorly. This comes as the Obama administration...
  • Good Riddance to David Letterman: A lefty sycophant limos off into the sunset.

    05/23/2015 5:36:31 PM PDT · by SeekAndFind · 91 replies
    Frontpage Mag ^ | 05/22/2015 | Daniel Greenfield
    David LettermanÂ’s departure isnÂ’t the end of an era. The era of late night talk shows ended a while back. In Johnny CarsonÂ’s final week in the nineties, he played to an audience of twenty million. Lately, Letterman has been lucky to get 2 million. His final shows have played to around 5 million viewers.Late night talk shows still exist, but their intended audience mainly watches viral clips from them the next day. The average age of LettermanÂ’s audience is 54. CBS hopes that the equally smarmy Stephen Colbert will be able to bring his younger audience demo with him,...
  • Teamsters spend big on politics while preparing to cut pensions

    05/21/2015 6:25:39 AM PDT · by rktman · 13 replies
    washingtontimes.com ^ | 5/20/2015 | Jeffrey Scott Shapiro
    The Teamsters have begun informing retirees and current workers that their pension benefits may soon be cut, the final ironic twist to a lobbying campaign that saw the union spend its own members' dollars to win the right to shrink their retirement pay. The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.
  • Why CalPERS retirees flee California

    05/13/2015 8:46:48 PM PDT · by artichokegrower · 41 replies
    Sacramento Bee ^ | May 11, 2015 | Jon Ortiz
    This city’s Spanish name recalls grassy, spring-fed meadows that nourished the first farms here and gave laborers relief from desert heat. Now Las Vegas draws a new generation of settlers epitomized by California transplant Joe Beck: CalPERS pensioners who have made Sin City their No. 1 destination for retirement outside California. Read more here: http://www.sacbee.com/news/politics-government/the-state-worker/article20702106.html#storylink=cpy
  • Will Obama join Amal at Columbia (University Law School) post-White House?

    04/27/2015 8:47:31 AM PDT · by Zakeet · 23 replies
    NY Post ^ | April 27, 2015
    President Obama is rumored to be in talks to move to New York and teach as a professor at Columbia Law School once his time in the White House is over. The president has strong links to Columbia University: He was a transfer student from California’s Occidental College in 1981 as a 20-year-old junior, and graduated from Columbia in 1983. Obama also taught courses in constitutional law at the University of Chicago from 1992 until his election to the US Senate in 2004. He was a senior lecturer from 1996 to 2004, during which time he taught three courses per...
  • Obamacare for Your IRA

    04/27/2015 3:06:57 AM PDT · by markomalley · 36 replies
    National Review ^ | 4/27/15 | John Berlau
    Is Jonathan Gruber — the MIT economist who seemingly dropped out of public view after he was caught on camera bragging about how he and other Obamacare architects misled the American public — now advising the Department of Labor? No evidence indicates that he is, but the authors of DOL’s sweeping new seven-part group of regulations that would sharply curtail choices of assets and investment strategies in 401(k)s, IRAs, and other savings plans appear to share Gruber’s mindset on the “stupidity of the American voter” (a revelation that Rich Lowry aptly described as “an unvarnished look into the progressive mind,...
  • How to Save $1 Million In Your 401(k)

    04/25/2015 8:04:12 AM PDT · by TurboZamboni · 44 replies
    MarketWatch ^ | 3-31-15 | Andrea Coombes
    Got $1 million in your 401(k)? Some savers might be surprised how feasible that savings goal is if they put their mind — and their money — to it. Of course, if you don’t have $1 million saved, you’re definitely not alone. Just 0.42 percent of all 401(k) participants in the Employee Benefit Research Institute’s database had $1 million or more in their account at the end of 2013. EBRI’s data covers 26.4 million savers. Similarly, just a tad more than 72,000 retirement savers, or 0.56 percent of the 13 million plan participants in its database, had $1 million or...
  • Is there one country left free of communism where one can retire?

    04/10/2015 8:35:05 AM PDT · by Sean_Anthony · 49 replies
    Canada Free Press ^ | 04/10/15 | Dr. Ileana Johnson Paugh
    Communism has gone global Many Americans have asked me where they could retire away from this country’s advancement towards Marxism. I was wracking my brain trying to find a place that would be suitable for my retirement years where I could continue to live in the relative freedom I found in the 1970s America. As long as we follow the law, we have nothing to hide and nothing to fear except the arm of “environmental justice” and “social justice.” After all, who wants to live their formative youth years under the Iron Curtain of communism and then their retirement years...
  • Obama supports reduction in military retirement pay

    03/30/2015 1:08:15 PM PDT · by jazusamo · 54 replies
    The Washington Times ^ | March 30, 2015 | Dave Boyer
    President Obama said Monday he supports the recommendations of a military commission that would reduce the size of traditional military retirement pay by about 20 percent and offer a new defined-contribution benefit for troops who leave before 20 years of service. In a letter to congressional leaders, Mr. Obama said the proposals are “an important step forward in protecting the long-term viability of the all-volunteer force, improving quality-of-life for service members and their families, and ensuring the fiscal sustainability of the military compensation and retirement systems.” Mr. Obama said he has directed his advisers to refine some recommendations, and that...