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The Golden Girls Retirement Plan: Oh Rose, Where Did Our (Pension) Funds Go?

David Rae | Posted 07.15.2016 | Queer Voices
David Rae

Second in a series. Major intellectuals, foremost philosophers and all my friends at the Abbey agree that most financial (or indeed life) issues can be explained in terms of the "The Golden Girls." In this episode Rose Nylund, played by the inimitable Betty White, faces a double whammy.

Climate Change: Identifying Future Makers And Future Takers

David W. Richardson, CFA | Posted 07.06.2016 | Business
David W. Richardson, CFA

It is important that one of the world's largest investment consultants has leapt into the debate on climate change and its effects on investment portfolios with reasoned analysis and actionable recommendations.

The Road to Solvency

Bob Williams | Posted 06.19.2016 | Politics
Bob Williams

Even though 49 states mandate a balanced budget, either constitutionally or statutorily, there is no uniform definition of a balanced budget, and accounting trickery has allowed states to avoid paying for their future obligations.

Greece: A Credible Deal Will Require Difficult Decisions By All Sides

Olivier Blanchard | Posted 06.15.2016 | World
Olivier Blanchard

The status of negotiations between Greece and its official creditors -- the European Commission, the ECB and the IMF -- dominated headlines last week.  At the core of the negotiations is a simple question: How much of an adjustment has to be made by Greece, how much has to be made by its official creditors?

Shaw: Chicago Public Schools Officials Need to Take a Long, Hard Look in the Mirror

Matthew Dietrich | Posted 06.11.2016 | Chicago
Matthew Dietrich

Chicago Public Schools has its fair share of problems, and after the resignation of former CEO Barbara Byrd-Bennett following questionable contracts and a federal investigation, Andy Shaw of the Better Government Association wants to see CPS take steps to right its ship.

New Front Opens In Battle Over Retirement Security Of California's Public Employees

Capital & Main | Bill Raden | Posted 06.09.2015 | Politics

A proposed law would shift all public employees onto 401(k) plans, beginning in 2019.

For Many States, Now Is the Day of Reckoning

Bob Williams | Posted 06.04.2016 | Politics
Bob Williams

It is time for reform-minded leaders in statehouses and city halls to roll up their sleeves and get to work. Facing a half-century of ballooning debt, the cost of inaction is simply too high.

Why Courts Keep Defending Workers' Retirement Security

Bailey Childers | Posted 05.28.2016 | Business
Bailey Childers

The Illinois Supreme Court is the latest to confirm that retirement security is an essential part of our social fabric, and one that merits constitutional protection. When people work hard and spend their entire professional lives paying into a system that guarantees them financial security in retirement, we can't pull back on that promise.

Follow the Money: How Pension Fund Leaders Are Key to a Zero-Carbon Future

Sharan Burrow | Posted 05.18.2016 | Green
Sharan Burrow

The money that underpins our dependence on high-carbon assets and puts lives and livelihoods at risk has many masters. One master is the deferred wages of working people, their pensions, used to undergird assets that emit dangerous levels of carbon pollution, causing climate change.

3 Ideas on Dealing With Illinois' Pension Crisis

Matthew Dietrich | Posted 05.18.2016 | Chicago
Matthew Dietrich

Now that the Illinois Supreme Court has said that the state's 2013 pension reform law won't fly, Illinois finds itself in a difficult position. How to (legally) reform the state's pension systems in a way that saves money and maintains the necessary components of the pensioners' benefits?

Illinois Unions Might Change Their Celebratory Tune Over Pension Ruling

Matthew Dietrich | Posted 05.12.2016 | Chicago
Matthew Dietrich

Though many public employee unions cheered when the Illinois Supreme Court ruled that the state's 2013 pension reform law is unconstitutional, Scott Reeder of the Illinois News Network said those same unions might be singing a different tune come budget time.

All the Time in the World?

Deborah Gale | Posted 05.08.2016 | Fifty
Deborah Gale

If we cling to old definitions of a future no one can pretend to predict, we are still going to age. But we will have been complicit and ultimately powerless by refusing to choose how we will age in the 21st Century. It's time we all thought about that.

How to Search for Lost Pension Money

Jim T. Miller | Posted 05.04.2016 | Fifty
Jim T. Miller

It's not unusual for a worker to lose track of a pension benefit. Perhaps you left an employer long ago and forgot that you left behind a pension. Or maybe you worked for a company that changed owners or went belly up many years ago, and you figured the pension went with it.

Hit Job: Daniel DiSalvo on Public Sector Unions

Dean Baker | Posted 05.03.2016 | Books
Dean Baker

Daniel DiSalvo's new book paints a dark conspiracy where public sector unions push for ever higher pay and benefits, work rules that allow for endless loafing on the job, and disciplinary policies that prevent even the most incompetent from being fired. It's a moving story -- the data just don't quite fit the picture.

Illinois Gov. Bruce Rauner Explains His Plans for the State's Pension and Budget Crises

Matthew Dietrich | Posted 06.21.2015 | Chicago
Matthew Dietrich

Illinois' budget crisis is only worsened by its growing pension crisis. Reboot Illinois' Madeleine Doubek took a look at the plans Gov. Bruce Rauner hopes to implement to begin to fix both problems.

Solving America's Infrastructure Crisis

Michael Likosky | Posted 06.16.2015 | Business
Michael Likosky

Most Americans are now well aware that we have an infrastructure crisis that goes beyond long commute times. We all nod in agreement when some of our airports are likened to those of Third World countries.

The Four Financial Plans Every Gay Couple Should Make Before They Get Married

Michael Most | Posted 02.02.2016 | Queer Voices
Michael Most

One day soon, same sex couples won't have to play hopscotch with financial equality and inequality, but until then, good financial planning can help ensure you come out a winner.

How Retirement Became so Risky | Posted 06.08.2015 | Money

Risk management is regarded as an essential element of modern investment management. But few people recognize that retirement -- the period when a person stops working and begins to decumulate their assets -- has now become the riskiest stage of a person's entire financial life.

Pot for Pensions

Steve Siebold | Posted 06.07.2015 | Politics
Steve Siebold

Huge municipalities like Chicago and Phoenix are drowning in underfunded pensions. Can tax revenue from legalized marijuana save the day?

Illinois' Pensions System Saw One Important Change in 1989

Matthew Dietrich | Posted 06.03.2015 | Chicago
Matthew Dietrich

On June 30, 1989, the Illinois Senate debated Senate Bill 95, a mammoth, "omnibus" pension bill that made more than 100 changes to the state pension code. For taxpayers, public employees and the five public pension systems controlled by state government, however, the bill made one change that, arguably, set the course for the pension crisis that plagues the state today.

Public Education and the Ability to Do Math in Chicago

Alana Baum | Posted 05.24.2015 | Chicago
Alana Baum

Our challenges are immense and urgent. But we have dedicated educators and families, and a mayor who's proven he'll take the heat to work on our budget. If we responsibly fund education, then even during tough times, we have so much to feel optimistic about.

Illinois' Pension Reform Opens the Door for Some Confusing Politics

Matthew Dietrich | Posted 05.19.2015 | Chicago
Matthew Dietrich

To those who have followed the epic Illinois pension reform battle over the past three years or so, Wednesday's arguments before the Illinois Supreme Court in a landmark pension reform lawsuit may have been disorienting.

Illinois' Pension Reform: Supreme Court Hears Oral Arguments

Matthew Dietrich | Posted 05.13.2015 | Chicago
Matthew Dietrich

The three Republican justices on the Illinois Supreme Court appeared to be the biggest skeptics of the state's case in the Illinois pension reform lawsuit. That's not what most observers expected as both sides presented their arguments to the seven members of the court.

I'm Retired So Now What Do I Do With My 401(k)? | Posted 05.12.2015 | Money

Financial Planning is not a one-time set it and forget it event, it's a process that must be reviewed for changes over time and adjusted.

Stay Up to Speed on Illinois' Pension Crisis With This Three-point Refresher

Matthew Dietrich | Posted 05.05.2015 | Chicago
Matthew Dietrich

Illinois faces a major pension-funding problem. The state's Supreme Court is set to hear a case over whether or not a proposed reform, Senate Bill 1, is constitutional. Here are three things you should remember when thinking about the state's pension crisis.