Pennsylvania resident’s lack of retirement savings could cost the state $14.3 billion by 2030. This is based on a study completed by Econsult Solutions Inc., which provides economic consulting services, public policy, and finance, as some of its services. Initially, the study was commissioned by the Pennsylvania Treasury, in order to determine the impact of insufficient (more…)
Generation X (also known as Gen X) is approaching retirement and facing concerns that it won’t become a reality. This would be the same crisis that Baby Boomers (born between 1946-1954) and Generation Jones (born between 1955-1965) are facing. Someone born between 1966 and 1976 would be classified as part of Generation X. In a recent survey (more…)
Retirees are increasingly ending their working careers with more retirement debt, says a new study from the National Bureau of Economic Research, revealing that America’s seniors are not finding rest in retirement, but are rather faced with bills. Study: Retired Americans Floundering in Debt The study examined Americans on the verge of retirement at three (more…)
The President Says on Twitter That the 401(k) Plans Will Be Untouched, But Not Everyone Is Convinced The Trump tax plan continues to face controversy, this time with concerns that the 401(k) pension-matching plan may face reductions in the new tax overhaul plan, even as the president comes out on Twitter to claim that the (more…)
Americans are dying sooner, retiring later, and are experiencing more sicknesses than a generation before, according to new calculations made by the Society of Actuaries, which puts the changing American lifespan into perspective. Data released recently shows that the American lifespan and health are declining, with millions of middle-aged workers facing shorter and less active (more…)
Private Nursing Home Costs Skyrocket in America Long-term care is becoming increasingly expensive for elderly Americans, and many of them find that the services they need aren’t covered under their healthcare insurance plans.
CalPERS to Vote to Slash Pensions for Retirees of Two Public Agencies Public employees and retirees of two government agencies in California are facing pension cuts as the state’s largest retirement fund is set to vote on slashing their payout.
States Short of Funds to Pay their Pension Liabilities Ratings agency Moody’s Corporation reports that the U.S. state governments are facing a whopping $1.3 trillion in unfunded pension liabilities, which are expected to further expand by the end of this fiscal year.
Government Worker Retirements Surge to Preempt Pension Cuts Kentucky’s ongoing pension crisis has given birth to a new problem: many public sector employees are beginning to retire early, in fear that they may lose pension benefits later if they continue working now. This has the state government worried that there will be a mass exodus of workers (more…)
Kentucky State Pension Crisis Has Unionized Workers Worried Unionized Kentucky government employees are protesting against pension cuts that are being proposed by Governor Matt Bevin as the state’s pension crisis runs out of control. Over the Labor Day weekend, members of various public sector unions gathered in Louisville to discuss their next plan of action (more…)