Several states and municipalities are issuing bonds as they struggle with ballooning pension costs, the New York Times reports.» Read More
Want to skip the high management fees of a 401k? Opt to put your money in an IRA.
Cramer gives you advice on how to make more money with your 401K.
$1 million isn’t what it used to be, in part because a lot of people don’t know how far it can go, and the amount of time and effort that it would take to spend it.
Some of Britain’s biggest banks have begun quietly ridding themselves of billions of pounds of assets they have found difficult to sell following the financial crisis, moving them off their balance sheets and into staff pension funds, the FT reports.
As the nation tightens its budget belt, the century-old military retirement system has come under attack as unaffordable, unfair to some who serve and overly generous compared with civilian benefits.
While austerity measures — cuts in social benefits such as pensions and health care — are unpopular with the citizens of Europe, they haven’t seen anything yet.
It appears that politicians in Washington, D.C., are moving closer to a deal that would extend the ability of the government to borrow money beyond August—preventing a default on U.S. government bonds or other obligations.
You might be surprised by some of the possible answers. Click ahead to see what happens if the U.S. credit rating is downgraded.
Insight on what would happen to pension funds and non-profit groups if the government were to default on its debt, with Verne Sedlacek, Commonfund CEO.
For far too long, states and municipalities spent above their means, creating massive structural budget deficits.
It is well known that America’s public pension funds are in serious trouble. A study by the Center for Retirement Research at Boston College recently estimated the funding gap at state and local pension funds is nearly $700 billion, or roughly 80 percent of current liabilities. Compare that to 1999, when state pension funding stood at 102 percent.
The small city of Central Falls, R.I., appears to be headed for a rare municipal bankruptcy filing, and state officials are rushing to keep its woes from overwhelming the struggling state, the New York Times reports.
The major issue facing states and municipalities is the unsustainability of their defined benefit public pension plans. States and local governments made promises to public employees that upon retirement they would receive defined payments for the rest of their lives.
America’s public sector has not produced many pleasant financial surprises this year. This week, however, one emerged: John Liu, New York City Comptroller, announced that in the year to June 30, the City’s pension fund produced returns of more than 20 percent, raising total assets to $119 billion, according to the FT.
Now is the time to play it safe, Joe Dear, CIO of the largest United States public pension fund, the California Public Employees Retirement System, told CNBC Thursday.
The mail gets delivered in rain or snow but it might not include pension checks for postal workers. According to a June 22, 2011 press release from the United States Postal Service, it intends to suspend what it owes to its pension plan as a way to “conserve cash and preserve liquidity.” By doing so, it frees up $800 million in cash for the current fiscal year.
CNBC's Gary Kaminsky looks at weakenss in European financial stocks; and insight on taking a long term approach to investing, with Joe Dear, CalPERS CIO.
The nation’s space agency has budgeted more than half a billion dollars to cover retirement funds due to thousands of workers at a long-term shuttle contractor.
Public pension funds managing the retirement and health care benefits of teachers and firemen are pouring money into hedge funds, as much as doubling the money they allocate to the industry, in a desperate attempt to bridge the funding gap in their plans.
Indonesia's rupiah is on a roll and high frequency traders are on the prowl. Time for your FX Fix.