Why you may retire in poverty
Are you going to retire in poverty? Today’s seniors are more affluent than the general population. But the generations that follow them – starting with the baby boom generation – will not be as fortunate. The decline of pensions, the erosion of Social Security and the housing crash all are pointing toward a new crisis […]
Harkin’s retirement plan proposal is a hit
Sen. Tom Harkin’s proposal for a universal private retirement system with professional money management was praised by several pension experts as a first step in addressing ways to improve retirement security.
Lump-sum opinions are everywhere
Everyone from daughters-in-law to cousins to former co-workers has an opinion on whether salaried retirees at Ford and General Motors should give up a steady pension check if they’re offered a sizable lump sum.
Nearly half of Americans die with ‘virtually no financial assets’
How much do senior citizens rely on Social Security? Even more than you might think. A new study finds that more than 46 percent of Americans die with less than $10,000 in financial assets, with many spending the end of their life strongly dependent on the government.
Sen. Harkin Outlines Pension Proposal Based on Privately Trusteed Hybrid Model
Sen. Tom Harkin (D-Iowa) released a retirement security proposal July 27, saying he will formally introduce legislation next year but that he wants candidates to debate the proposal during congressional and presidential campaigns this fall.
Sen. Harkin proposes retirement plan revamp, Social Security fix
Sen. Tom Harkin, D-Iowa, on Friday proposed a way to bolster retirement savings at work, plus a series of improvements to Social Security.
Democratic Senator Proposes New Type Of Retirement Plan
Senator Tom Harkin (D-IA) outlined the principles for a new type of retirement plan in a report released today. This sort of plan is sorely needed given the current state of retirement savings.
Is This the Solution to America’s Retirement Crisis?
A provocative economics professor wants to overhaul the 401(k) system with Guaranteed Retirement Accounts
Pension plans keep more retirees out of poverty, reduce reliance on public assistance
Study: Defined-benefit pensions not only aid seniors but also provide a public service
Pension Rights Center Applauds Senator Harkin for Bold Proposal to Solve Nation’s Retirement Crisis
Today the Pension Rights Center applauded Senator Tom Harkin, chairman of the Senate Health, Education, Labor, and Pensions Committee, for his new report, The Retirement Crisis and a Plan to Solve It. “Senator Harkin’s bold report identifies the causes of the retirement crisis and proposes imaginative and realistic solutions to the address the crisis,” said […]
4 Ways to Fix the 401k Mess
Recently, InvestorPlace Editor Jeff Reeves discussed the plight of older Americans regarding their retirement savings — or lack thereof. He cites an Aon Hewitt report showing that the average 60-year-old has $114,500 in his or her 401k, which provides approximately $4,600 per year over a 25-year period.
COLAs Vanishing from Pension Plans
Much like rotary phones, snail mail and pension plans in general, cost-of-living allowances are increasingly becoming a thing of the past, new research finds. But, for those organizations considering a COLA, experts say they should implement one on an age-segmented basis to the workforce.
