Here are a few of the stories about retirement and retirement planning that I have been following that are making the news around the world. These stories were published Sept 14 and 15th 2012. There are similarities in the stories and the issues faced. We think we face issues that are unique to us in our own corner of the world, but the issues facing us are also facing others. Younger Boomers need to pay attention so they can take steps to protect themselves.
Public
pensions don't need fixing: Todd Harrison, Local Contributor
Austin American-Statesman
Public employee retirement systems and pensions are under attack. Those who are on the attack use such words as "unsustainable," "unfunded," and "bankrupt" to describe defined benefit pension funds. Words like "lavish," "overly generous," and "greedy" ...
Austin American-Statesman
Public employee retirement systems and pensions are under attack. Those who are on the attack use such words as "unsustainable," "unfunded," and "bankrupt" to describe defined benefit pension funds. Words like "lavish," "overly generous," and "greedy" ...
Viewpoints:
Pension problems not the fault of employees
Sacramento Bee
Anyone who reads the papers knows that cities and states are being hit hard by fast-rising pension and retirement health care costs for public employees. Cities such as Stockton and San Bernardino have even declared bankruptcy. But few of those papers ...
Sacramento Bee
Anyone who reads the papers knows that cities and states are being hit hard by fast-rising pension and retirement health care costs for public employees. Cities such as Stockton and San Bernardino have even declared bankruptcy. But few of those papers ...
Pensions
Overhaul Is Urged
Wall Street Journal
The push comes as several other states have changed their pension systems to grapple with growing costs. Rhode Island moved to a hybrid retirement system in 2011 under which it guarantees a portion of pensions that are supplemented by 401(k)-style plan ...
Wall Street Journal
The push comes as several other states have changed their pension systems to grapple with growing costs. Rhode Island moved to a hybrid retirement system in 2011 under which it guarantees a portion of pensions that are supplemented by 401(k)-style plan ...
Don't
let your pension hit the buffers because of fees
Scotsman
But how much of an impact does all of this really have on your pension savings? Are pension charges really the biggest determinant of your ultimate retirement income or do contributions and investment performance remain the key factors? Let's take a ...
Scotsman
But how much of an impact does all of this really have on your pension savings? Are pension charges really the biggest determinant of your ultimate retirement income or do contributions and investment performance remain the key factors? Let's take a ...
Retirement
costs will lead to serious cutbacks
Statesman Journal
Public employees deserve the pensions they were promised. But, sadly, state and local taxpayers will struggle to fund PERS at its current level. The estimate is that for every $1 million in public payroll, taxpayers will be contributing $210,000 for ...
Statesman Journal
Public employees deserve the pensions they were promised. But, sadly, state and local taxpayers will struggle to fund PERS at its current level. The estimate is that for every $1 million in public payroll, taxpayers will be contributing $210,000 for ...
Is
new wave pension plan "California dreamin'"?
Reuters
Now, California is moving toward launching an innovative new approach to retirement saving that addresses two key problems facing Americans: the lack of workplace pension programs among small businesses and the structural shortcomings of 401(k) ...
Reuters
Now, California is moving toward launching an innovative new approach to retirement saving that addresses two key problems facing Americans: the lack of workplace pension programs among small businesses and the structural shortcomings of 401(k) ...
End
pension scams for clout crowd
Chicago Sun-Times
After a BGA investigation exposed the pension plan, Lansing ended the practice, which was used to encourage early retirement of older workers so they could hire younger, less expensive, ones. While there is arguably some method to Lansing's pension ...
Chicago Sun-Times
After a BGA investigation exposed the pension plan, Lansing ended the practice, which was used to encourage early retirement of older workers so they could hire younger, less expensive, ones. While there is arguably some method to Lansing's pension ...
Bulgaria
to Up Pensions to Compensate Inflation
Novinite.com
In particular, Djankov explained that the planned raise of retirement pensions will be tailored to compensate inflation accumulated since pensions were last raised in July 2009. Data from Bulgaria's National Statistical Institute show that inflation ...
Novinite.com
In particular, Djankov explained that the planned raise of retirement pensions will be tailored to compensate inflation accumulated since pensions were last raised in July 2009. Data from Bulgaria's National Statistical Institute show that inflation ...
KEEGAN:
When it comes to cutting public pensions, you can and must
Montana Watchdog
Jerry Brown this week signed pension legislation he admits does nothing about his state's $500 billion retirement debt, that debt continues to grow by billions of dollars. All over America, our 3,418 public pension plans are crashing faster than ...
Montana Watchdog
Jerry Brown this week signed pension legislation he admits does nothing about his state's $500 billion retirement debt, that debt continues to grow by billions of dollars. All over America, our 3,418 public pension plans are crashing faster than ...
Schools
still groaning under burden of pension costs
Glens Falls Post-Star
In addition, they will have to brace for the cost of the other pension plan, the Teachers Retirement System. The 2013-14 rate for TRS has yet to be announced, but school officials expect it will increase. Of the two pension systems, TRS is the more ...
Glens Falls Post-Star
In addition, they will have to brace for the cost of the other pension plan, the Teachers Retirement System. The 2013-14 rate for TRS has yet to be announced, but school officials expect it will increase. Of the two pension systems, TRS is the more ...
Judge
OKs request to consolidate Hawker pension claims
Kansas.com
Last month, union members voted to approve a company proposal that retains the pensions, but freezes accruals beginning Dec. 31. It also creates a new Retirement Income Savings Plan. The PCBG's request to the court to consolidate proofs of claims does ...
Kansas.com
Last month, union members voted to approve a company proposal that retains the pensions, but freezes accruals beginning Dec. 31. It also creates a new Retirement Income Savings Plan. The PCBG's request to the court to consolidate proofs of claims does ...
Over
55s face £70000 retirement savings shortfall as most fail to set aside ...
This is Money
The bank asked 2,220 adults of various ages about their savings habits, and despite those aged 35 and above having high targets for their retirement savings pot, most are failing to put enough away. In contrast, younger people are aiming low but stand ...
This is Money
The bank asked 2,220 adults of various ages about their savings habits, and despite those aged 35 and above having high targets for their retirement savings pot, most are failing to put enough away. In contrast, younger people are aiming low but stand ...
Former
Frankfort police chief backs off pension dispute after officers raise ...
Chicago Tribune
With two more years of credible service and his higher administrative salary, Piscia stood to gain roughly $9,000 more a year from his future police pension. Over his first 15 years of retirement, the Tribune calculated Piscia would have collected ...
Chicago Tribune
With two more years of credible service and his higher administrative salary, Piscia stood to gain roughly $9,000 more a year from his future police pension. Over his first 15 years of retirement, the Tribune calculated Piscia would have collected ...
SANDRA
CHAPMAN: Time we pensioned off the term pension
Belfast Newsletter
Dr Altmann thinks that giving pensions a new name would make saving for retirement more exciting. So what could it be called and would a fancy new name alter people's mindset that saving for pensions is a waste of time given the way the recession has ...
Belfast Newsletter
Dr Altmann thinks that giving pensions a new name would make saving for retirement more exciting. So what could it be called and would a fancy new name alter people's mindset that saving for pensions is a waste of time given the way the recession has ...
Stand
by for a pensions shake-up: Auto-enrolment is imminent
The Independent
However, while auto-enrolment is a step in the right direction for millions of people, it won't guarantee them a stress-free retirement, warns Ros Altmann, director-general of Saga, who insists that people shouldn't be relying on a pension. "By ...
The Independent
However, while auto-enrolment is a step in the right direction for millions of people, it won't guarantee them a stress-free retirement, warns Ros Altmann, director-general of Saga, who insists that people shouldn't be relying on a pension. "By ...
'Unrealistic'
savings mean Scots face retirement misery
Scotsman
Lynn Graves, head of business development for corporate pensions at Scottish Widows, said: “This, combined with the national trend towards a growing recognition that individuals need to take more responsibility for their own retirement planning, would ...
Scotsman
Lynn Graves, head of business development for corporate pensions at Scottish Widows, said: “This, combined with the national trend towards a growing recognition that individuals need to take more responsibility for their own retirement planning, would ...
Virginia
Retirement System doles out $400 million to public, private equity
Pensions & Investments
By Hazel Bradford | September 14, 2012 3:53 pm. Comments. Virginia Retirement System, Richmond, hired Lombardia Capital Partners to manage $200 million in active domestic small-cap value equity, according to information provided by the fund.
Pensions & Investments
By Hazel Bradford | September 14, 2012 3:53 pm. Comments. Virginia Retirement System, Richmond, hired Lombardia Capital Partners to manage $200 million in active domestic small-cap value equity, according to information provided by the fund.
Quinn
unhappy that pensions may wait until next year
Northwest Herald
Officials want to reduce retirement benefits for public employees to limit growth in the state's annual pension contribution. This year it's $5 billion. Quinn and the legislative leaders seem to agree on the broad outlines of a new plan, but they ...
Northwest Herald
Officials want to reduce retirement benefits for public employees to limit growth in the state's annual pension contribution. This year it's $5 billion. Quinn and the legislative leaders seem to agree on the broad outlines of a new plan, but they ...
Firms,
Prioritise Employee Pensions
AllAfrica.com
We are quite certain that many former employees are wallowing in poverty after their retirement due to non-remittance of their pensions and such practice should be nipped in the bud so that firms are not allowed to defeat the very purpose the social ...
AllAfrica.com
We are quite certain that many former employees are wallowing in poverty after their retirement due to non-remittance of their pensions and such practice should be nipped in the bud so that firms are not allowed to defeat the very purpose the social ...
Times
Co. Offers Former Employees Lump Sum Option for Pension
New York Times (blog)
According to the filing, about 5,200 former employees of the Times Company who have vested in the pension plan can continue to receive a pension when they retire or can accept a lump-sum payment in cash or to roll into a retirement plan. The ...
New York Times (blog)
According to the filing, about 5,200 former employees of the Times Company who have vested in the pension plan can continue to receive a pension when they retire or can accept a lump-sum payment in cash or to roll into a retirement plan. The ...
Quinn
unhappy pensions may wait until next year
STLtoday.com
"The earliest we can pass pension reform as a practical matter is Jan. 1," Cullerton told the Chicago Tribune editorial board. House Speaker Michael Madigan has hinted at the same timetable. Officials want to reduce retirement benefits for public ...
STLtoday.com
"The earliest we can pass pension reform as a practical matter is Jan. 1," Cullerton told the Chicago Tribune editorial board. House Speaker Michael Madigan has hinted at the same timetable. Officials want to reduce retirement benefits for public ...
Massachusetts
Water Resource pension fund dives into custodian hunt
Pensions & Investments
... Olsen | September 14, 2012 3:11 pm. Comments. Massachusetts Water Resource Authority Employees' Retirement System, Chelsea, is searching for a global custodian for the $320 million defined benefit plan, confirmed Sheryl Trezise, executive director.
Pensions & Investments
... Olsen | September 14, 2012 3:11 pm. Comments. Massachusetts Water Resource Authority Employees' Retirement System, Chelsea, is searching for a global custodian for the $320 million defined benefit plan, confirmed Sheryl Trezise, executive director.
Cheddi
Jagan would have been mad about Jagdeo's pension benefits
Stabroek News
Editor, all the apologists for the retirement package of Mr Jagdeo in the PPP such as Dr Gopaul, Mr Nandlall, et al, show us, the regular citizens of this country, that they really don't care about the working people of Guyana and they think that we ...
Stabroek News
Editor, all the apologists for the retirement package of Mr Jagdeo in the PPP such as Dr Gopaul, Mr Nandlall, et al, show us, the regular citizens of this country, that they really don't care about the working people of Guyana and they think that we ...
Fort
Worth police officers voting on higher pension contributions
Fort Worth Star Telegram
snishimura@star-telegram.com. FORT WORTH - The city's Employee Retirement Fund has called an election of Fort Worth police officers to find out if they want to raise their contributions to the city pension plan, in exchange for retaining their benefit ...
Fort Worth Star Telegram
snishimura@star-telegram.com. FORT WORTH - The city's Employee Retirement Fund has called an election of Fort Worth police officers to find out if they want to raise their contributions to the city pension plan, in exchange for retaining their benefit ...
Quinn
unhappy pensions may wait until next year
Peoria Journal Star
... doesn't think a pension overhaul can pass until January, when legislative rules mean passage requires fewer votes. House Speaker Michael Madigan has hinted at the same timetable. Officials want to reduce retirement benefits for public employees to ...
Peoria Journal Star
... doesn't think a pension overhaul can pass until January, when legislative rules mean passage requires fewer votes. House Speaker Michael Madigan has hinted at the same timetable. Officials want to reduce retirement benefits for public employees to ...
Pensions:
some good news at last
Telegraph.co.uk (blog)
It's not the sort of thing that will make TV or tabloid headlines but it is a valuable extension of individual choice which rising numbers of people reaching retirement with DC pensions will benefit from. Here's why. The shares don't care how old you ...
Telegraph.co.uk (blog)
It's not the sort of thing that will make TV or tabloid headlines but it is a valuable extension of individual choice which rising numbers of people reaching retirement with DC pensions will benefit from. Here's why. The shares don't care how old you ...
Pension
changes reach parliament
Nursing Times
The first stage of the Public Services Pensions Bill was published yesterday. The new pension deal will see workers earn a career average pension, after increased contributions with retirement age linked to the state pension age of 68. Unions ...
Nursing Times
The first stage of the Public Services Pensions Bill was published yesterday. The new pension deal will see workers earn a career average pension, after increased contributions with retirement age linked to the state pension age of 68. Unions ...
Retirement
Official Says Kentucky Pensions Systems Haven't Used ...
WKU Public Radio
After being heavily criticized for their use, Kentucky's major pension program says it hasn't used a placement agent for three years. Placement agents are investing middle men that direct pension funds to investment opportunities. Kentucky has not had ...
WKU Public Radio
After being heavily criticized for their use, Kentucky's major pension program says it hasn't used a placement agent for three years. Placement agents are investing middle men that direct pension funds to investment opportunities. Kentucky has not had ...
Pension
reform won't spare N.Y. taxpayers in 2013
The Journal News | LoHud.com
While those losses to 401(k) plans meant private-sector employees saw their retirement benefits shrink, those 403,000 retired New York municipal workers now receiving benefits – and the 650,000 still accumulating state pension benefits – didn't feel a ...
The Journal News | LoHud.com
While those losses to 401(k) plans meant private-sector employees saw their retirement benefits shrink, those 403,000 retired New York municipal workers now receiving benefits – and the 650,000 still accumulating state pension benefits – didn't feel a ...
The
hidden pain in auto-enrolment
Investors Chronicle
In a few days, the landscape of pensions in this country will change forever. Seven million first-time savers will be automatically enrolled into a workplace scheme in a move designed to bolster their retirement income and alleviate the financial ...
Investors Chronicle
In a few days, the landscape of pensions in this country will change forever. Seven million first-time savers will be automatically enrolled into a workplace scheme in a move designed to bolster their retirement income and alleviate the financial ...
NOTU
opposes liberalisation of pensions sectorPublish Date: Sep 14, 2012
New Vision
Kenya, which had initially advocated full liberalisation has pulled back and is reverting to national pension scheme, (Kenya NSSF) that offers mandatory retirement plan with contribution of 12%,” he said. He proposed that NSSF be kept as a national ...
New Vision
Kenya, which had initially advocated full liberalisation has pulled back and is reverting to national pension scheme, (Kenya NSSF) that offers mandatory retirement plan with contribution of 12%,” he said. He proposed that NSSF be kept as a national ...
Calumet
City's top lawyer's new post means huge pension boost
Chicago Sun-Times
Prompted by questions from the BGA, the Illinois Municipal Retirement Fund — the government-run pension system (often known as IMRF) that would handle Gianopolus' payouts — has launched an investigation to see whether he should qualify for any ...
Chicago Sun-Times
Prompted by questions from the BGA, the Illinois Municipal Retirement Fund — the government-run pension system (often known as IMRF) that would handle Gianopolus' payouts — has launched an investigation to see whether he should qualify for any ...
Study
highlights 'wealth gap' retirement fears
What Investment
'There is clearly a pension and wealth gap in the UK and the uncertainty is increased by ongoing financial and economic volatility, but it is important that people focus on the positives of retirement planning and maximise the assets they have.' While ...
What Investment
'There is clearly a pension and wealth gap in the UK and the uncertainty is increased by ongoing financial and economic volatility, but it is important that people focus on the positives of retirement planning and maximise the assets they have.' While ...
Pension
conference wraps up results of the USAID Pension Reform Project
Public Radio of Armenia
PALM project has been USAIDs' primary activity aimed to support Armenia's pension reform implementation, strengthen the retirement income system, and enhance the competitiveness of the labor market. Between 2009-2012, PALM assisted the Government ...
Public Radio of Armenia
PALM project has been USAIDs' primary activity aimed to support Armenia's pension reform implementation, strengthen the retirement income system, and enhance the competitiveness of the labor market. Between 2009-2012, PALM assisted the Government ...
Commons
Speaker John Bercow to keep £1m pension
The Guardian
John Bercow, the Commons Speaker, will become the only holder of one of the three "great offices of state" to keep a gold-plated pension worth £1m when he reaches retirement age. The Speaker's office had indicated that Bercow would announce his ...
The Guardian
John Bercow, the Commons Speaker, will become the only holder of one of the three "great offices of state" to keep a gold-plated pension worth £1m when he reaches retirement age. The Speaker's office had indicated that Bercow would announce his ...
Admiral
& Scottish Widows partnership beats pensions trend
MyIntroducer.com
Indeed, the recently launched Scottish Widows workplace pensions research revealed that almost three quarters (74%) of employees believe that the workplace should give them full financial advice and information on retirement planning, with 54% saying ...
MyIntroducer.com
Indeed, the recently launched Scottish Widows workplace pensions research revealed that almost three quarters (74%) of employees believe that the workplace should give them full financial advice and information on retirement planning, with 54% saying ...
Cupertino
responds to grand jury report on pensions
San Jose Mercury News
The grand jury's findings and recommendations focus on long-term health of pension plans and other post-employment benefit obligations given out by local governments. Report recommendations include extending the employee retirement age, adopting ...
San Jose Mercury News
The grand jury's findings and recommendations focus on long-term health of pension plans and other post-employment benefit obligations given out by local governments. Report recommendations include extending the employee retirement age, adopting ...
Fort
Worth Employee Retirement Fund calls election of cops to find out
whether ...
Fort Worth Star Telegram (blog)
The city's Employee Retirement Fund has called an election of Fort Worth police officers to find out if they want to to raise their contributions to the city pension plan, in exchange for retaining their benefit formula. Cops1 The fund's board decided ...
Fort Worth Star Telegram (blog)
The city's Employee Retirement Fund has called an election of Fort Worth police officers to find out if they want to to raise their contributions to the city pension plan, in exchange for retaining their benefit formula. Cops1 The fund's board decided ...
euronews
U talk : European pensions rights when retiring abroad
euronews
You can only apply for your pension from the country where you now live once you have reached the legal retirement age in that country. If you have pension rights from other countries, you will only receive that part of your pension once you have ...
euronews
You can only apply for your pension from the country where you now live once you have reached the legal retirement age in that country. If you have pension rights from other countries, you will only receive that part of your pension once you have ...
Mailbag:
Pensioners, not council, are the problem
Daily Pilot
After only 28 years service, he received a starting $145,000-a-year lifetime pension, lifetime medical benefits and a generous yearly cost-of-living adjustment — all in retirement. Since that time, Mr. Epperson's retirement benefits have only ...
Daily Pilot
After only 28 years service, he received a starting $145,000-a-year lifetime pension, lifetime medical benefits and a generous yearly cost-of-living adjustment — all in retirement. Since that time, Mr. Epperson's retirement benefits have only ...
Armenian
opposition deplores “untimely” pension reform
ArmeniaNow.com
Two years ago, still the parliament of the previous convocation passed a raft of laws envisaging drastic changes in the pension sphere by which an accumulative retirement plan will become mandatory beginning 2014 for all citizens of Armenia aged below 40.
ArmeniaNow.com
Two years ago, still the parliament of the previous convocation passed a raft of laws envisaging drastic changes in the pension sphere by which an accumulative retirement plan will become mandatory beginning 2014 for all citizens of Armenia aged below 40.
NY
Times moves to cut pension liabilities
Reuters
Pensions are a significant issue facing newspapers as the industry deals with a severe drop in revenue from advertising. At the same time publishers are responsible for funding retirement plans for its swelling ranks of past employees as well as ...
Reuters
Pensions are a significant issue facing newspapers as the industry deals with a severe drop in revenue from advertising. At the same time publishers are responsible for funding retirement plans for its swelling ranks of past employees as well as ...
Yeah! we should make plans for our future as we grow old and have some retirement benefits in any way we could be satisfied...
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