djaworski

1/11/2015 - Old 401(k)s: out of sight - and out of money (Chicago Tribune)

Is there any way that America’s current do-it-yourself retirement system won’t be a recipe for complete and total disaster? Think about it: First, we run the whole thing through the cheapskate employers. Then we combine those bosses with a predatory financial services industry that routinely pays millions or even billions in criminal fines as the… Read more 1/11/2015 - Old 401(k)s: out of sight - and out of money (Chicago Tribune)

1/9/015 - When Outside Factors Dictate Retirement Age (The New York Times)

For many, deciding to retire can be as straightforward as reaching Social Security eligibility age or amassing a solid nest egg. But for others mulling over when to stop work, there are other powerful, if less measurable, considerations like life expectancy, changing technological demands of the workplace and fear that age bias will limit continued… Read more 1/9/015 - When Outside Factors Dictate Retirement Age (The New York Times)

1/7/2015 - New law allows cuts in multiemployer pensions (MarketWatch)

When President Obama signed the omnibus budget and spending bill in December 2014, he also signed into law sweeping changes, through the Multiemployer Pension Reform Act of 2014, to private sector multiemployer plans. (The pension-reform measure was folded into the larger omnibus bill.) The most controversial proposal in the pension act allows deeply troubled multiemployer… Read more 1/7/2015 - New law allows cuts in multiemployer pensions (MarketWatch)

1/5/2015 - Goodbye, traditional retirement (MarketWatch)

We don’t have a crystal ball, but for those who are retired and those folks saving for retirement, here are a few of the risks and opportunities looming in 2015. “My perspective is that there are several major issues facing the retirement system, but progress in addressing them has been very slow,” said Anna Rappaport,… Read more 1/5/2015 - Goodbye, traditional retirement (MarketWatch)

1/2/2015 - Time to Assess your Financial Fitness (The New York Times)

When the Dow Jones industrial average closed above 18,000 for the first time late last month, you could practically hear the champagne corks popping. Traders wore hats celebrating the occasion, and email news alerts were followed by dutiful articles. If you found yourself cheering from the sidelines, however, you’re in danger of using the wrong… Read more 1/2/2015 - Time to Assess your Financial Fitness (The New York Times)

1/2/2015 - The 'Shock' that Awaits Pensioners at Retirement (BBC News)

The next generation of Americans to hit retirement will be ‘shocked’ when they find out how little they have to live on. A former Assistant Secretary of the Treasury warns that the US government is standing idly by. “We need to do something, we’re not doing anything,” she says. Professor Alicia Munnell, who is now… Read more 1/2/2015 - The 'Shock' that Awaits Pensioners at Retirement (BBC News)

12/15/2014 - Pension measure seen as model for further cuts (MarketWatch)

A measure included in Congress’s mammoth spending bill permits benefit cuts for retirees in one kind of pension plan, a big shift that lawmakers and others believe could set a precedent for other troubled retirement programs.The legislation is aimed at defusing a potentially explosive problem—the deteriorating condition of what are known as multiemployer plans, jointly… Read more 12/15/2014 - Pension measure seen as model for further cuts (MarketWatch)

12/13/2014 - Reading the Fine Print on Pension Advance Agreements (The New York Times)

Pension advance agreements — also known as annuity utilization contracts — have been the subject of many articles and of litigation in several states. In 2005 a class-action lawsuit was filed by the National Consumer Law Center against Structured Investments Company L.L.C. (Retired Military Financial Services was doing business under that name at the time.A judgment was handed up in… Read more 12/13/2014 - Reading the Fine Print on Pension Advance Agreements (The New York Times)

12/12/2014 - Your pension could go poof. Do you have a back up plan? (The Washington Post)

National Public Radio’s David Greene and Robert Smith have been hosting a series of money talks around the country this year concerning personal finances.Greene, host of NPR’s “Morning Edition,” and Smith, a correspondent for “Planet Money,” start off by asking audience members and panelists who join them, myself included, “What keeps you up at night?”… Read more 12/12/2014 - Your pension could go poof. Do you have a back up plan? (The Washington Post)

12/08/2014 - Three Quick Ways To Tell If Your 401(k) Rocks (Forbes)

When it comes to retirement plans, 401(k)s are confusing and inadequate. They are often loaded with expensive, junk funds and don’t give employees the right choices. On top of that, they guarantee nothing. Employers don’t even have to offer them. Here are three ways to tell if your 401(k) is worthwhile. If your plan doesn’t… Read more 12/08/2014 - Three Quick Ways To Tell If Your 401(k) Rocks (Forbes)