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12/04/2014 - A Strategy for Pensions at Risk of Extinction (The New York Times)

by on December 8, 2014 5:11 pm
When people are old, should governments guarantee they have incomes? In the 19th century — 125 years ago — Germany became the first country to answer yes to that question, adopting an old-age pension system at the behest of Chancellor Otto von Bismarck. That concept spread to the United States in the 20th century. Eighty… Read more 12/04/2014 - A Strategy for Pensions at Risk of Extinction (The New York Times)
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12/5/2014 - Older women who exercise outdoors more likely to stick with it

by on December 6, 2014 12:10 am
Outdoor workouts left women in a better mood and kept them exercising longer than counterparts who exercised indoors, according to a small study from Canada. Read the full article at Reuters.

12/5/2014 - What To Do About The Coming Retirement Crisis

by on December 6, 2014 12:07 am
In their new book, Falling Short: The Coming Retirement Crisis and What to Do About It (to be published Jan. 2, 2015), authors Charles D. Ellis, Alicia H. Munnell and Andrew Eschtruth call themselves modern-day Paul Reveres. Instead of Redcoats, they’re fearful about our pockets — and how little money we’ll have in them at retirement. “Millions… Read more 12/5/2014 - What To Do About The Coming Retirement Crisis
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12/4/2014 - Financial Elder Abuse a Growing - But Preventable - Problem (New America Media)

by on December 5, 2014 8:09 pm
While the term “abuse” may conjure up visions of physical injury or neglect, the most common form of elder abuse is financial exploitation, according to Naomi Karp, a senior policy analyst for the U.S. Consumer Financial Protection Bureau’s Office for Older Americans. Read the full article at New America Media.

12/4/2014 - A Strategy for Pensions at Risk of Extinction

by on December 5, 2014 5:04 pm
Multiemployer pension plans, often involving unionized workers, were once common in industries like coal mining, trucking and construction. But they’re running out of money. Read the full article at The New York Times.

12/4/2014 - The 401(k) Killed Off Pensions (Bloomberg)

by on December 5, 2014 12:24 am
“There was absolutely no discussion in ’78 that if you do this, the world is going to change,” recalls Carter-era Treasury official Daniel Halperin of the 869-word provision in the tax code that created a $4.4 trillion pool of retirement savings. According to the Investment Company Institute, 18 percent of all retirement assets are held in… Read more 12/4/2014 - The 401(k) Killed Off Pensions (Bloomberg)
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12/3/2014 - Do state and local pensions need federal regulation? (MarketWatch)

by on December 4, 2014 5:16 pm
The Governmental Accounting Standards Board (GASB) has clarified that its financial reporting standards do not constitute funding policy guidance, leaving a vacuum when it comes to public pension funding policies. But it is not clear that federal legislation could actually include funding requirements. Originally, governmental plans were included along with private plans in the legislative proposals… Read more 12/3/2014 - Do state and local pensions need federal regulation? (MarketWatch)
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12/3/2014 - What's your retirement IQ? For most, it's lousy (USA Today)

by on December 4, 2014 5:03 pm
In survey after survey, Americans have not scored well on retirement literacy tests. But a new survey of Americans ages 60 to 75 says 80% failed a retirement income literacy test. The results of the poll, released today by the American College of Financial Services in Bryn Mawr, Pa., are pretty dismal. The poll was… Read more 12/3/2014 - What's your retirement IQ? For most, it's lousy (USA Today)

12/4/2014 - Why Elders Smile

by on December 4, 2014 5:00 pm
When researchers ask people to assess their own well-being, people in their 20s rate themselves highly. Then there’s a decline as people get sadder in middle age, bottoming out around age 50. But then happiness levels shoot up, so that old people are happier than young people. The people who rate themselves most highly are… Read more 12/4/2014 - Why Elders Smile

12/4/2014 - Mental engagement may preserve health literacy in aging

by on December 4, 2014 12:11 am
Surfing the net, going to museums or joining a club might have an unexpected side effect: improving the ability of older people to understand drug labels and doctors’ instructions, according to a new study in the UK.  “We found that the effects of internet use and cultural activities, along with other social activities, including civic… Read more 12/4/2014 - Mental engagement may preserve health literacy in aging