Retirement
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SALEM, Ore.-- A Democratic plan to curb retirement benefits for government workers could reach Oregon Gov. The Legislature's budget committee is scheduled to vote Friday to advance the pension-cutting bill, setting the stage for votes in the full House and Senate.
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"That's good," Clark told the system's Board of Trustees, adding that the investment returns have far exceeded the goal of earning 7.25 percent a year. The system's assets had grown to $8.78 billion by March 31, up about $1 billion since the start of the financial year July 1 after taking into account investment gains and benefits paid to retirees.
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Steve Beshear has signed legislation intended to shore up Kentucky's financially troubled pension plan for government retirees. The legislation would provide nearly $100 million a year to make the state's required contribution to the pension plans of state government employees.
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WASHINGTON, April 3- Yes, stocks have been on a real tear lately, but guess who hasn't been along for the ride: The millions of 401 investors who "moved to safety" after the 2008-2009 market and never felt comfortable enough to move back to stocks.
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Post-recession Americans are saving more for retirement, but many don't trust the stock market to grow their nest eggs.
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A federal judge ruled Monday that Stockton, Calif., is eligible for court protection from its creditors, clearing the way for a battle over whether public workers' pensions can be cut when the city goes bankrupt. The NYT reports.
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About half of the population 85 and older have some sort of impairment that makes managing with finances difficult.
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It's no secret, it's harder for older workers to land a job. Here are some tips for how to land that job -- without having to lie about your age!
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CNBC's Sharon Epperson discusses gold's close for the day. The precious metal ended up above $1,600 over concern in Cyprus as investors looked for a safe haven.
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WASHINGTON, March 26- The retiring chief of the trouble-plagued F-35 Joint Strike Fighter says he remains bullish about the hi-tech war plane, with costs soon to be further reduced as production takes off, and believes the program will transform the aerospace industry.
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*More Canadians want to retire gradually, not abruptly. TORONTO, March 26- Retirement planning once meant plugging a client's 65th birthday into a spreadsheet and going from there. People are no longer retiring as much as they are redirecting, "said Jill Chambers, a certified financial planner at Integrated Wealth Management in Calgary.
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CHICAGO, Mar 26- Intel Corp.. Intel isn't the only company to experiment with this type of retirement transition program. Hewlett-Packard Co is a founding sponsor of the program and Goldman Sachs Group Inc has also participated.
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Intuit Inc. reported tax season data so far that looks "ok, not great," according to a Jefferies analyst who said the software maker appears to be planning for a strong finish to the year based on its forecast for consumer tax revenue growth.
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Why are young people buying homes in retirement communities years ahead of time? CNBC's Diana Olick has the story.
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His retirement would leave a vacant seat in a conservative-leaning state that could be difficult for Democrats to defend as they try to protect their majority in the Senate. The younger Johnson has not announced any formal plans to seek the Senate seat.
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FRANKFORT, Ky.-- Legislative leaders are working on a potential deal that would eliminate a standard $20 personal income tax credit for Kentuckians in a move that could generate some $65 million a year to shore up the financially troubled pension system for government retirees.
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CHICAGO-- Any fix for Illinois' nearly $100 billion pension mess should include provisions that the state make its full pension payment yearly and address cost-of-living increases and retirement age, Gov.
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WASHINGTON, March 25- U.S. Senate Banking Committee Chairman Tim Johnson, a South Dakota Democrat, does not plan to run for re-election when his current term ends in 2014, sources close to the matter and key Capitol Hill staffers said on Monday. Johnson, 66, joined the Senate in 1997 and has been widely expected to retire at the end of his term.
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WASHINGTON, March 25- U.S. Senate Banking Committee Chairman Tim Johnson, a South Dakota Democrat, does not plan to run for re-election when his current term ends in 2014, sources said on Monday. Johnson, 66, joined the Senate in 1997 and has been widely expected to retire at the end of his term. He plans to make the announcement on Tuesday, the sources said.
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More and more young people are buying homes in retirement areas because prices are lower, reports CNBC's Diana Olick.
