Category: Financial -Landing 2013

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8/2/2013 - Why the rich never retire (CNBC)

by on August 5, 2013 4:53 pm
The ultimate American dream used to be to get rich young and “retire by 40.” Now the goal for the rich is to retire past 70—if they retire at all. A new survey shows that America’s highest earners don’t plan on retiring until they are at least 70 years old. Lower-income groups—and even those considered… Read more 8/2/2013 - Why the rich never retire (CNBC)
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8/2/2013 - Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? (PBS)

by on August 5, 2013 4:52 pm
The simple story of the July unemployment numbers, released Friday, is that the population grew by about 200,000 people and new jobs absorbed just about all of them. Why did the unemployment rate go down — from 7.6 percent to 7.4 percent? Because the official “workforce” actually declined — by about 40,000 people. What could… Read more 8/2/2013 - Is Baby Boomer Retirement Behind the Drop in July's Unemployment Rate? (PBS)

7/31/2013 - Federal-employee union wants broader eligibility for phased-retirement program (Washington Post)

by on August 1, 2013 3:52 pm
One of the nation’s largest federal-worker unions wants to expand a program that will allow federal employees to work part-time after the age of retirement while receiving partial annuities and continuing to pay toward their benefits. The National Treasury Employees Union said in a statement on Tuesday that more federal workers should be able to… Read more 7/31/2013 - Federal-employee union wants broader eligibility for phased-retirement program (Washington Post)
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7/31/2013 - Here's What Poverty Would Look Like If Social Security Didn't Exist (Huffington Post)

by on August 1, 2013 3:51 pm
The nation’s poverty crisis would be a lot worse if it wasn’t for safety net programs — particularly Social Security, a new analysis finds. If Social Security didn’t exist, about 25 million more Americans would be in poverty, according to an analysis of 2011 Census data from the Economic Policy Institute, a left-leaning think tank.… Read more 7/31/2013 - Here's What Poverty Would Look Like If Social Security Didn't Exist (Huffington Post)
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7/30/2013 - Oldest Boomers Are Increasingly Facing Discrimination in the Workplace (Time)

by on July 30, 2013 4:36 pm
The oldest boomers begin turning 68 next year, when they will exceed full retirement age for even the youngest of their generation. Yet many remain on the job and have pushed back their target date for calling it quits. About half of the oldest boomers, born in 1946, have left their employer for good, according… Read more 7/30/2013 - Oldest Boomers Are Increasingly Facing Discrimination in the Workplace (Time)
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7/30/2013 - State Regulator Steps Up Checks on Public Pension Funds (Wall Street Journal)

by on July 30, 2013 4:33 pm
New York’s top financial regulator is ramping up scrutiny of state and city pension funds by using what he says is his office’s little-known authority to examine public retirement systems in the state. The office of New York Superintendent of Financial Services Benjamin Lawsky on Monday informed officials at the New York City Employees’ Retirement… Read more 7/30/2013 - State Regulator Steps Up Checks on Public Pension Funds (Wall Street Journal)
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7/29/2013 - Supercharing the 401(k) (BenefitsPro)

by on July 30, 2013 3:38 pm
Retirement savings took a beating in the downturn, leaving many in what is understandably a state of high anxiety about the best ways to ensure everyone gets the most they can out of the 401(k). Over the last several years, measures such as auto-enrollment and auto-escalation of employee contributions have helped. Yet while these measures… Read more 7/29/2013 - Supercharing the 401(k) (BenefitsPro)
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7/28/13 - Across the Country, Overpromised on Pensions (NPR)

by on July 30, 2013 2:30 pm
When Detroit declared bankruptcy last week, city workers had a very personal reason to be dismayed. They discovered that their retirement plans, their pensions, are not as solid as they thought. Detroit’s $18 billion of debt includes pension obligations estimated at $3.5 billion that are underfunded. Seems that there is a lot less money in… Read more 7/28/13 - Across the Country, Overpromised on Pensions (NPR)
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7/24/2013 - Sell a Business to Cover Retirement? Don’t Count on It (New York Times)

by on July 25, 2013 9:02 pm
When R. J. Lewis left a corporate job to start his own business in 1999, he knew his bank account would suffer. He gave up a six-figure income and assumed that the first few years of entrepreneurship would be lean. Still, he did not realize just how much of a toll running a business would take… Read more 7/24/2013 - Sell a Business to Cover Retirement? Don’t Count on It (New York Times)
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7/23/2013 - Why 50% of workers are retirement have-nots (MarketWatch)

by on July 25, 2013 4:47 pm
Retirement crisis? More like a catastrophe for the 50% of U.S. workers who don’t participate in a savings plan at work, many of whom work at small companies nationwide. Those businesses face steep hurdles in providing retirement plans to their workers, according to a new report—and without such plans, it’s even more challenging to save… Read more 7/23/2013 - Why 50% of workers are retirement have-nots (MarketWatch)