Pension News

The Legislature's Joint Finance Committee voted 13-to-3 Tuesday to make smokers pay a $50 surcharge per month for their health coverage.

While Santa Monica can balance its budget over the next two years, it will likely face a $13 million deficit by 2017 due to rising pension costs and the end of its Redevelopment Agency , according to the City's proposed budget released Monday.

After months of pressure to resign over his role in the Stafford Hospital scandal, he revealed he will leave next year Shameless NHS chief Sir David Nicholson sparked fury today after announcing he will finally quit his job - but not until next year.

Federal and state officials are looking into so-called "pension advances," deals they say are digging retirees and military veterans deep into debt, while also putting individual investors at risk.

Thousands of Floridians will get their say - indirectly - on a key issue at the JPMorgan Chase & Co.

Louisiana Municipal Employees' Retirement System , Baton Rouge, hired Meketa Investment Group as investment consultant, confirmed Robert Rust, director at MERS.

In the span of a few minutes on Monday, the Texas House gave the green light to pension increases for state elected officials and then watched the effort to ban "double dipping" by politicians crash and burn without a vote.

Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt.

Organizers of an annual conference for people who manage more than $3 trillion in public sector pension funds in the U.S. and Canada say a significant number of administrators are skipping this year's meeting in Hawaii to avoid the perception they're wasting money by heading to the island paradise.

A combination of events is focusing attention on whether Gov. Tom Corbett and lawmakers can perform the political hat trick of passing major legislation dealing with transportation spending, liquor store privatization and curbing public pension costs while passing the next state budget on time for the third year in a row.

Few American business leaders are as connected to the concepts of saving and long-term investing as John C. Bogle, founder of the Vanguard Group.

Data from the Office for National Statistics shows that the amount of money a man of 65 needs to obtain a retirement income of A 5,000 per year has increased by a whopping 29% in the last three years.

A milestone worth noting: After more than 54 years nursing her fellow Block Islanders back to health, Mary Donnelly has retired.

Detroit's pension assets are a big, inviting honey pot. And a lot of folks lately have put their hands in the honey jar.

Thirteen thousand patient-care technical workers plan a two-day strike of the five UC Medical Centers – Davis, Los Angeles, San Francisco, Irvine and San Diego – starting Tuesday.

An Illinois agency manager might have to delay retirement. A former university secretary wonders if she'll have to cancel vacations.

Like all successful financial scams, 'pension liberation' schemes seem attractive, giving you access to retirement funds before 55, the usual age at which they can be turned into income for life.

I would think every taxpayer who doesn't work for the government would be outraged over the obscene $95,640 per year pension the ex-Carpentersville fire chief who retired under a cloud of suspicion is receiving.

Oh good grief, I thought, when I read the research on retirement and health - it's a conspiracy! How clever of a government that's so strapped for cash to find a way of sweetening the pill of an ever-rising retirement age .

Public pension plans in Michigan - hammered by stock market declines in the poor economy and mismanagement in some cases - are now seeing their investment portfolios growing at the best rate in years.