Category: Financial Landing 2015

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)

6/12/15 - Paying Off the Mortgage Is Becoming Harder for Older Workers (The New York Times)

Older workers, stung by a punishing decline in house prices or high consumer debt, are increasingly unable to pay off their mortgages and are heading into their retirement years with substantial amounts outstanding.They have also been hit by unexpected expenses, layoffs, accumulated credit card bills or college loans, leaving them unable to pay off their single biggest… Read more 6/12/15 - Paying Off the Mortgage Is Becoming Harder for Older Workers (The New York Times)

6/12/2015 - Criminal Psychics See a Clear Path With the Desperate, a Detective Says (The New York Times)

Most criminal cases against psychics in New York begin with a victim walking into a precinct station house and making a complaint, but this is hardly a given. “Most people don’t think it’s a crime,” Detective McFadden said. “They think it’s a civil matter.” The challenge in prosecuting fraud by psychics often begins with the… Read more 6/12/2015 - Criminal Psychics See a Clear Path With the Desperate, a Detective Says (The New York Times)

6/12/2015 - The New Math of Student Loans (The Wall Street Journal)

When it comes to student loans, a little homework can lead to big savings.Over the next few weeks, hundreds of thousands of students and their parents will apply for student loans for the coming college year. Many students will sign up for federal loans, where they will find the best deals.But for a certain group… Read more 6/12/2015 - The New Math of Student Loans (The Wall Street Journal)

6/11/2015 - I.R.S. Adds New Safeguards to Thwart Identity Theft and Fraud (The New York Times)

Reeling from an online attack that allowed criminals to steal personal information and divert tax refunds from tens of thousands of taxpayers, the Internal Revenue Service announced on Thursday a sweeping effort to step up protections against identity theft and fraud. The actions are expected to be completed by early next year, well before the… Read more 6/11/2015 - I.R.S. Adds New Safeguards to Thwart Identity Theft and Fraud (The New York Times)