djaworski

6/24/2015 - A Thorny Trade-Off in Protecting Older Investors (The Wall Street Journal)

Some states have been giving brokerage firms more power to halt stock purchases and money transfers when they suspect their older clients are becoming victims of financial abuse or fraud. Missouri this month joined at least two other states—Delaware and Washington—in passing laws that shield brokerages from some liability if they delay certain questionable transactions… Read more 6/24/2015 - A Thorny Trade-Off in Protecting Older Investors (The Wall Street Journal)

6/23/2015 - We’re Living Longer, and Other Reasons to Worry About Americans’ Retirement Outlook (The Wall Street Journal)

Only about half of adults who aren’t yet retired expect to have enough money to live comfortably once they stop working, While that’s an improvement over the outlook that prevailed in the aftermath of the recession, it’s still lower than early in the last decade. Read the full article in The Wall Street Journal. 

6/22/2015 - New Momentum on Paid Leave, in Business and Politics (The New York Times)

Oregon this month became the fourth state to pass a bill requiring that companies give workers paid sick days to care for themselves or family members.Chipotle said this month that it would begin offering hourly workers paid sick and vacation days, joining McDonald’s, Microsoft and other companies that have recently given paid leave to more… Read more 6/22/2015 - New Momentum on Paid Leave, in Business and Politics (The New York Times)

6/22/2015 - When Retirement Savings are unsafe (The New York Times)

The Department of Labor is about midway through a public comment period on its “fiduciary rule” proposal to require financial advisers to act solely in their clients’ best interests when giving advice and selling investments for retirement accounts. The proposal, if finalized, would be a big improvement on current practice, in which many advisers are… Read more 6/22/2015 - When Retirement Savings are unsafe (The New York Times)

6/21/2015 - Critics question proposed rules for cutting pensions (Pittsburgh Post-Gazette)

While managers of the troubled plans are taking steps to shore up their finances, if those measures fall short, the new law allows them to seek U.S. Treasury Department approval to temporarily or permanently cut benefits for those younger than 75. Benefits would not be reduced for those 80 or older and those receiving disability… Read more 6/21/2015 - Critics question proposed rules for cutting pensions (Pittsburgh Post-Gazette)

6/20/2015 - A retirement plan from the guy who teaches retirement income planning (Investment News)

Matching increasing longevity with increased savings is among the biggest challenges facing retirement savers. It’s not an abstract one for Mr. Littell, whose father retired at 75 and is 103. His father has managed his own finances well and, when he started spending down assets at 84, bought an annuity with some of his money.… Read more 6/20/2015 - A retirement plan from the guy who teaches retirement income planning (Investment News)

6/17/2015 - Federal officials outline process for cutting multi-employer pensions (The Washington Post)

An estimated 1 million participants, including many retirees, are in multi-employer pension plans that federal officials say are in danger of running out of money in the near future. Late last year, Congress passed legislation that for the first time allows the benefits of current retirees to be cut as part of a deal to address… Read more 6/17/2015 - Federal officials outline process for cutting multi-employer pensions (The Washington Post)

6/16/2015 - CBO: Social Security Shortfall Quadrupled Since 2008 (Forbes)

The Congressional Budget Office today released its annual Long-Term Budget Outlook, showing that Social Security’s long-term funding gap has more than quadrupled since 2008.  But don’t hold your breath waiting for reform to happen. The CBO measures the Social Security 75-year funding shortfall at 4.4 percent of taxable payroll. That means that an immediate and permanent 4.4… Read more 6/16/2015 - CBO: Social Security Shortfall Quadrupled Since 2008 (Forbes)

6/15/2015 - Retirement plans increasingly hampered by student loan debt (CBS Moneywatch)

Most Americans are not saving enough for retirement. Now it seems many aren’t even clearing out debt before their golden years. A new study by LIMRA Secure Retirement Institute shows retirees are bringing unprecedented levels of student loan debt into their later years. The research showed student loans made up only 4 percent of debt for pre-retirees in… Read more 6/15/2015 - Retirement plans increasingly hampered by student loan debt (CBS Moneywatch)

6/14/2015 - America’s Seniors Find Middle-Class ‘Sweet Spot’ (The New York Times)

Most Americans suffered serious losses during and after the recession, knocked off balance by layoffs, stagnant pay and the collapse of home values. But apart from the superrich, one group’s fortunes appear to have held remarkably steady: seniors. Supported by income from Social Security, pensions and investments, as well as an increasing number of paychecks from… Read more 6/14/2015 - America’s Seniors Find Middle-Class ‘Sweet Spot’ (The New York Times)