Pension News

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.

That trend line once again has legislators contemplating more cuts to social services and education despite a major state income tax increase in 2011.

Gov. Chris Christie has warned potential investors there is no guarantee the state will make its required pension payments in future years, an admission that underscores a looming financial crisis he and future governors face as retirement costs are expected to explode before the decade ends.

Emergency Manager Kevyn Orr may place more safeguards to ensure Detroit's pension trustees are spending money wisely in the wake of a scheduled trip by some trustees to a conference in Hawaii.

Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information.

Two pension funds separately won record-high support for shareholder social proposals at any company.

Florida House Republicans tried to close the state's pension system to new employees this year, saying it's a ticking time bomb that could cripple the state's budget for years to come.