New Jersey is a "wonderful window" into world credit problems, said market-watcher Jim Grant, a day after Gov. Christie announced a presidential run.» Read More
While politics on the national scene are a continual show of gridlock, politics, and fingerpointing as the economy struggles, the state of Rhode Island managed to cut its pension liabilities and save taxpayers $4 billion. How did it do it? By putting aside politics and focusing on the math, state General Treasurer Gina Raimondo told CNBC Wednesday.
It is the governance of public pension plans that needs to be restructured to assure that pension funds are being appropriately invested and protected.
Rhode Island is trying to boost its finances and fend off downgrades as it passes a broad reform of its pension system, with Gina Raimondo, Rhode Island general treasurer. The way to solve fiscal problems is to leave politics aside, she says.
Retired police and firefighters have agreed to pension cuts in Central Falls Rhode Island's municipal bankruptcy. It is the first municipality to shed pension obligations in the bankruptcy process,the New York Times reports.
The city's hourly wage for its lowest-paid workers will hit $10.24, more than $2 above the California minimum wage and nearly $3 more than the working wage set by the federal government.
With 401(k)s, IRAs, Roth IRAs, and Social Security benefits, seniors have plenty to figure out when it comes to paying Uncle Sam.
CNBC's Sharon Epperson's "New Retirement" segment shows workers how to track all the retirement funds they have coming to them.
The change partly reflects demographics but also government cost-cutting that has resulted in less generous pay and benefits, the New York Times reports.
UK inflation, currently at 5 percent, is hitting those aged between 45 and 65 known as the baby boomer generation hardest, a new report has found.
CNBC's Sharon Epperson explores the art of investing in art.
"The banks and the credit markets are under pressure, but still we have had huge gains on the safe government bonds, the German and Danish bonds. It has been a safe-haven for us," Lars Rhode, CEO at ATP, told CNBC.
Karen Olney, head of European thematic strategy at UBS, told CNBC that pension funds were being forced to tactically take profits in government bonds.
BlackRock isn't looking to buy other asset managers and may use its cash instead to raise its dividend, reinvest in its business and buy back more shares, CEO Laurence Fink told CNBC Wednesday.
Two market crashes and a couple of recessions later, 25 percent of all boomers don’t have anything saved for retirement and now find themselves in dire need of government services and potential bailouts of math defying pension plans.
The pension fund that serves California's teachers is sending letters to 122 companies expressing its dissatisfaction with their compensation practices. "We want them to take the message seriously", said Anne Sheehan, CalSTRS Director of Corporate Governance.
Investment theory is over complicated and often wrong, escalating financial crises like the one in 2008 and currently within the euro zone, Saker Nusseibeh, CIO at Hermes and Chairman of The 300 Club told CNBC.
The aggregate shortfall of UK corporate pension schemes soared in September and is now at its second-highest level, new industry data show, as falling markets and bond yields sharply reduced returns.
Another week, another pension fund filing a lawsuit over execution of currency trades. Here's what it means for you.
Double-dipping has become a hot topic during these times of severely strained budgets. Yet even as some states have begun curbing the practice, a new national report found tens of thousands of state and local employees drawing government salaries along with their pensions.
Publicly financed retirement, or pension benefits, vary widely across the world. See how your pension plan stacks up against the world’s largest economies.