pensions

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Here's What You Can Put Toward Retirement in 2025

IRS releases annual cost-of-living adjustments, including updates on contributions to 401(k)s, IRAs

(Newser) - The IRS is out with its annual cost-of-living tweaks, including increases in how much Americans can inject into their pension plans and retirement accounts. The details, per the AP :
  • 401(k), 403(b), federal Thrift Savings Plan, most 427 plans: In 2025, individuals will be able to contribute up to $23,500
...

Rudy Giuliani Now Wishes He'd Taken NYC Pension

Would have amounted to nearly $450K so far, had he taken it

(Newser) - Most New York City mayors take a pension when they leave office, but when Rudy Giuliani's time as "America's Mayor" came to a close in 2001, he didn't file for one. Now that he's declared bankruptcy following a court ruling ordering him to pay two...

Where America's Pension System Ranks in the World

Not so great: It's No. 22 out of 47 nations ranked

(Newser) - An annual assessment of the world's pension systems finds the US to be in "meh" territory. America ranked No. 22 out of 47 nations in the Mercer CFA Institute Global Pension Index , with an overall grade out of 63 out of 100, or C+. "In the US,...

Macron's Despised Retirement Plan Is a Go

Top court signed off on plan on Friday

(Newser) - There have been 12 days of protests organized over the past three months against French President Emmanuel Macron's decision to up the retirement age from 62 to 64, and a 13th—and more beyond that—are looking likely. France's top court on Friday approved the unpopular plan and...

French Protesters Burn City Hall
The French Are Really Mad
Mar 24, 2023 6:33 AM CDT

The French Are Really Mad

City Hall set ablaze in Bordeaux, cops clash with protesters in Paris over changes to pension system

(Newser) - Last week, French President Emmanuel Macron bypassed Parliament and raised the age of retirement from 62 to 64, an unpopular move that left citizens "seething." Anger over the proposal has been bubbling up into strikes and protests since January, but the mostly peaceful demonstrations have also made way...

Despite Protests Ahead, France Won't Budge on Retirement Age

Prime minister calls change to 64 'nonnegotiable'

(Newser) - After more than a million people poured into the streets earlier this month to protest President Emmanuel Macron's planned changes to France's pension system, government officials suggested there might be room for compromise. On Sunday, they made clear that doesn't include a reconsideration of raising the retirement...

GM Retirees Who Lost Full Pensions Turn to Congress

Bankruptcy deal cut payments and benefits for 20K Delphi workers

(Newser) - Dave Muffley thought he had it made when it came to a solid retirement. The Indiana man spent roughly 30 years as a salaried maintenance technician for Delphi Corp., a subsidiary of General Motors, and expected to retire with a comfortable income by the time he hit 62. But when...

Civil War Widow Kept Her Secret for Decades

As a teenager, Helen Viola Jackson married a 93-year-old veteran

(Newser) - Helen Viola Jackson's 1936 marriage to James Bolin was unusual, to say the least: He was 93 and in declining health, and she was a 17-year-old schoolgirl. Bolin was also a Civil War veteran who fought for the Union in the border state of Missouri. Jackson was almost certainly...

Report: If Convicted, Chauvin Still Stands to Collect Pension

CNN reports he could receive $1.5M in benefits over 30 years

(Newser) - Derek Chauvin, the Minnesota police officer charged with killing George Floyd, stands to receive a pension whose value could end up topping $1 million—even if convicted. That's according to CNN , which reports Minnesota does not have a law ordering the forfeiture of pensions for employees convicted of felonies...

Woman With 'Mind-Bending' Link to Civil War Has Died
Last Pension
Tied to Civil War
Has Been Paid Out
in case you missed it
Jun 6, 2020 12:00 PM CDT

Last Pension Tied to Civil War Has Been Paid Out

Irene Triplett, last child of Civil War veteran getting a pension, has died at 90

(Newser) - The word "mind-bending" features in the Wall Street Journal 's obituary on Irene Triplett and her place in history, with good reason. The 90-year-old died Sunday in a Wilkesboro, NC, nursing home, bringing an end to the final pension that had been paid out in connection with the...

Finance Bigwig at Summit: 'I Want to Talk About What's in Your Pants'

Fisher Investments has now lost nearly $1B after sexist remarks at CEO conference

(Newser) - Cities across the US have entrusted Fisher Investments with shepherding their pension investments, but several have now bailed after the firm's founder made sexist comments at a conference in San Francisco last week. CNBC reports the city of Boston is the latest to drop Fisher, withdrawing nearly $250 million...

Cop Shocks Wife With New Will After Killing Himself

Mike Smith wanted his Russian-born girlfriend to have everything

(Newser) - On the one hand, there's his wife. On the other, his blonde, Russian-born, NYPD lieutenant girlfriend. Who will receive the $810,000 pension benefits of Brooklyn cop Mike Smith after he shot himself in the head in his apartment in 2017? Complicating matters is the fact that Smith died...

He Didn't Enter School During Shooting, Gets Huge Pension

'This infuriates me,' parent of Marjory Stoneman Douglas shooting victim says

(Newser) - The school resource officer widely criticized for his response to the Feb. 14 Parkland shooting is now the target of abuse over his six-figure pension. Scot Peterson, 55, who retired a week after 17 people died in the shooting at Marjory Stoneman Douglas High School as he stood outside, began...

Obama's Pension Now Under Congressional Microscope

Jason Chaffetz wants to re-up vetoed bill that would cap, limit ex-presidents' allowances

(Newser) - Jason Chaffetz had a concise response to a Wednesday USA Today headline, which read "Obama's $400,000 speech could prompt Congress to go after his pension": "Yes, it will." That speech, one Obama will make at a Cantor Fitzgerald conference, is earning him some heat , prompting...

Early Cheerleaders of 401(k) Plans Are Now Changing Tune

They point to major issues, such as dependence on stock market, high fees

(Newser) - When 401(k) plans emerged in the '80s, they were supposed to complement pensions, not replace them. But as the Wall Street Journal reports, only 13% of workers in the private sector today hold pensions thanks to the 401(k) revolution—and original proponents of the tax-deferred savings plans are now...

Hastert Fights for $17K-a-Year Teacher's Pension

It's $17K a year, and disgraced ex-House speaker says he's entitled to it

(Newser) - Dennis Hastert is serving a 15-month prison term in a hush-money case that stemmed from his sexual abuse of students when he taught at an Illinois public school over 35 years ago—and the ex-US House speaker is now pointing to a technicality to argue that a state body should...

Bob McDonnell May Lose Pension Under Law He Signed

Former Virginia governor is now a felon

(Newser) - New felon Bob McDonnell might have a much lighter wallet thanks to a bill that he signed into law in his former life as a governor. As CBS 6 explains, the 2011 Virginia law prohibits state employees from collecting their pensions if convicted of a felony. The misdeed must...

Boehner Calls No-Strings Vote on Debt Ceiling

Boehner drops plan for military pension rider

(Newser) - With the clock ticking, House Republicans ditched their last attempt to tie a policy rider to the debt ceiling today. John Boehner told fellow Republicans that he would instead bring a "clean" bill to the floor, raising the debt ceiling without conditions, the Wall Street Journal reports. Yesterday, Boehner...

Detroit Went Way Overboard Paying Pensions: Report

Money went to workers who hadn't retired

(Newser) - In its path to declaring bankruptcy , Detroit didn't help itself on the pension front: The city, it seems, was overly generous with its pension payments to the tune of billions of dollars. The city offered extra cash to workers still on the job, while retirees got bonuses and families...

We've Got a Choice: Schools or Nursing Homes?
We've Got a Choice:
Schools or Nursing Homes?
OPINION
Aug 5, 2013 1:43 PM CDT

We've Got a Choice: Schools or Nursing Homes?

Robert Samuelson doesn't think our economy is strong enough to pay pensions

(Newser) - If anyone tries to tell you that Detroit's bankruptcy is an isolated incident, "don't be fooled," writes Robert Samuelson at the Washington Post . The truth is that for governments across the country, "the scramble for scarce resources is intensifying. Schools compete with nursing homes."...

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