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Pensions

Wanted: A New 'New Deal' for the American Working Class

Henry A. J. Ramos | Posted 01.26.2016 | Politics
Henry A. J. Ramos

Fewer and fewer working Americans it seems, including many homeowners, are facing the future feeling confident and ready for retirement. There is good reason for such anxiety owing to multiple factors.

Meet the Two Californians Who Want You to Work Forever

Bailey Childers | Posted 01.25.2016 | Politics
Bailey Childers

Last week in California, Chuck Reed and Carl DeMaio announced that they would no longer move forward with a measure to gut retirement security for hundreds of thousands of hard-working California firefighters, nurses, and social workers.

Plutocrats in California Decide to Wait Until 2018 Before Trying to Gut Public Pensions

Joseph A. Palermo | Posted 01.19.2016 | Los Angeles
Joseph A. Palermo

The millionaires and billionaires who want to gut public sector pensions in California have decided to put off their anti-labor ballot initiatives until after the Roberts Court imposes its "right-to-work" regimen on the whole country this June.

The Year in Retirement Security: A Look Back at 2015

Bailey Childers | Posted 12.16.2015 | Politics
Bailey Childers

For years firefighters, nurses, teachers, social workers, roads crews and others across the country have paid a percentage of their salary toward their retirement security. Notably, in Illinois and New Jersey irresponsible politicians did not do the same.

Time for an Open and Honest Discussion About a Crucially Important Women's Issue: Social Security

Nancy Altman | Posted 12.15.2015 | Politics
Nancy Altman

Because so few women have employer-provided retirement benefits or personal savings on which to rely, Social Security is disproportionately their sole source of income in old age. For 49 percent of never-married, divorced and widowed women aged 65 and older, Social Security comprises virtually all of their income. That is nearly one out of two single women!

How to Get the Most From Your Pension

Allan Smith | Posted 11.03.2015 | Business
Allan Smith

When people talk about their personal financial situations, it can be a hardy topic but if I was to say you're losing out each day that goes by, in investments that your could be controlling with your pension funds, What would you say? How?

Retirement Insecurity for Workers; Decadent Pensions for CEOs

Leo W. Gerard | Posted 11.02.2015 | Politics
Leo W. Gerard

Because so many corporations have decided only CEOs need pensions, a huge portion of the nation's elderly relies heavily on Social Security. For 24 percent, it is the sole source of retirement income. Yet Republicans running for president want to cut it.

Five Reasons Why Traditional Pensions Are Still the Best Way to Provide Retirement Security

Bailey Childers | Posted 10.19.2015 | Business
Bailey Childers

There is a common misconception that traditional pensions, particularly in the public sector, are overly generous. The truth is most defined benefit plans provide retirees with a modest monthly benefit.

Chicago's Day of Reckoning Is Now

Bob Williams | Posted 10.06.2015 | Chicago
Bob Williams

According to municipal audits and financial statements, Chicago Public Schools cannot make their pension payments and meet payroll this year while covering their monthly bills.

History of the Illinois Pension Crisis Could Be Learning Moment

Matthew Dietrich | Posted 10.01.2015 | Chicago
Matthew Dietrich

When the Illinois Supreme Court ruled the 2013 pension reform law unconstitutional, it left the state with one very big question: how to get $105 bill...

Why Is an Enron Billionaire Trying to Keep Teachers From Retiring?

Bailey Childers | Posted 09.30.2015 | Education
Bailey Childers

Instead of so-called reforms that would decimate teachers' retirement savings, we should be looking for ways to keep good teachers in the classroom. Retirement security is a critical part of making teaching a more rewarding career.

Tsipras Faces Major Challenges After Election Triumph

The Huffington Post | Eline Gordts | Posted 09.29.2015 | World

ATHENS, Greece -- The triumphant return to power of Greek Prime Minister Alexis Tsipras and his Syriza party after the country's Sept. 20 elections c...

What to Do When Divorce or Widowhood Puts You in Financial Control for the First Time

Michael Most | Posted 09.23.2015 | Money
Michael Most

Taking an accounting of liabilities and expenses -- ie. what's owed -- is an essential first step to taking full financial control. In the case of divorce, which spouse will continue to pay for certain expenses is typically decided in the settlement.

10 Places in Illinois Where Pension Spiking Costs Are Highest

Reboot Illinois | Posted 09.17.2015 | Chicago
Reboot Illinois

A recent investigation from the Better Government Association took a deep look into pension spiking in Illinois and the impact reforms have had on the...

Ever Heard the One About the Dead People Collecting Pensions in Illinois?

Matthew Dietrich | Posted 09.15.2015 | Chicago
Matthew Dietrich

Those deceased pensioners were once state employees. And for the still-living and still-employed state employees, handling payments for medical care could be about to get a whole lot more complicated.

Have You Figured Out How Much Money You Need For Retirement Yet?

MoneyTips | Posted 09.08.2015 | Business
MoneyTips

Have you figured out how much money you need for retirement yet? If you answered "Yes", then you're preparing for your post-working years. But even ...

Social Security for Two: What Every LGBT Couple Needs to Know Now

David Rae | Posted 02.02.2016 | Queer Voices
David Rae

First comes love, then comes marriage, then comes figuring out what the hell to do about Social Security. Retirement planning can be quite complicated for anyone, but the newness of Social Security options for LGBT couples find some of us unprepared.

Wisconsin Pensions: Better Than Other States, But Still Insolvent

Bob Williams | Posted 08.20.2015 | Politics
Bob Williams

Unlike most states, Wisconsin pensions do not have automatic yearly increases, whether by edict or through cost of living adjustments (COLA). Most other states utilize these tools, leading to much larger shortfalls. Wisconsin, on the other hand, ties payouts to investment returns.

Illinois' Geographic Rifts Grow Larger With School Spending Conflicts

Matthew Dietrich | Posted 08.18.2015 | Chicago
Matthew Dietrich

Forget Democrats vs. Republicans. A brewing fight over how state government funds Illinois schools districts draws geographic battle lines that pit Ch...

Retirement: A Party We All Want To Attend

Bailey Childers | Posted 08.14.2015 | Politics
Bailey Childers

We must continue to stand up against Wall Street interests who want to privatize social security, force older Americans to work longer, gut pensions for public employees, and continue to manipulate our government to only benefit the wealthiest in our country.

The Top 8 People and Actions to Blame for Illinois' Pension Problems

Matthew Dietrich | Posted 08.07.2015 | Chicago
Matthew Dietrich

There are many, many people from both major parties at fault over many years for the Illinois pension debacle. Dave McKinney, former Chicago Sun-Time...

Maybe It's Time to Let John Cullerton Lead the Way on Pension Reform

Matthew Dietrich | Posted 08.05.2015 | Chicago
Matthew Dietrich

I'll admit it: Two years ago, I was an ardent supporter of Senate Bill 1, a sweeping pension reform proposal that would save the state more than $150 ...

Donors Who Can't Give To Christie Campaign Give To His Super PAC

The Huffington Post | Paul Blumenthal | Posted 07.31.2015 | Politics

WASHINGTON -- A super PAC formed to support New Jersey Gov. Chris Christie’s presidential campaign has raised $11 million with a big boost from...

Why Social Security Beats All Rivals -- And the Case for Expanding It

Robert Kuttner | Posted 07.26.2015 | Politics
Robert Kuttner

Social Security demonstrates that public systems are often better than their private counterparts. The problem is that government-managed systems are only as good as their stewards. The only cure is stronger democracy, so that citizens who value good programs vote to elect leaders pledged to defend them.

Money That Could Be Going to Social Services and Schools Is Instead Going to Illinois' Pension Debt

Matthew Dietrich | Posted 07.29.2015 | Chicago
Matthew Dietrich

Illinois state elected officials are working on creating a budget for the new fiscal year. But even once that budget is agreed upon, there won't be ne...