Included in the $1.9 trillion stimulus bill signed by President Biden on Thursday is an $86 billion aid package for participants of about 185 to over 300 employer-union pension plans. If aid had not been available more than a million retired retail clerks, candy makers, truck drivers, construction workers and others would have faced severe cuts in
Retirement
Pre-retirees and retirees may be understandably concerned about their exposure to stock market risk, particularly in these uncertain times. Let’s take a look at how a hypothetical 65-year-old couple might think about this decision. Suppose Jack and Mary have $400,000 in retirement savings and they’re invested in a target date fund with the classic “60/40”
By Chris Farrell, Next Avenue Years of grassroots activism led to the new law saving pensions for union members Teamsters for a Democratic Union Good news on the retirement-income front. Some 1.5 million workers and retirees faced the real risk that their pension incomes would be slashed over the next 20 years or significantly sooner.
By Richard Eisenberg, Next Avenue Editor getty A message to married and unmarried couples about managing your money: it’s a two-person job. Letting just one of the two of you handle all the household’s saving and investing, bill paying, insurance, wealth building and debt management is a recipe for financial trouble, especially if you’re over
Seniors getty The Covid-19 pandemic has been a catastrophe for frail older adults. More than 170,000 residents and staff of long-term care facilities have died from the virus, and adults over age 65 living in all settings have accounted for about 80 percent of the nation’s deaths, or about 400,000 fatalities. But what lessons have
As we begin the post-Covid process of thinking beyond survival, retirement planning is once more an area of focus. And the retirement prospects for Americans are scary. Few are prepared. The SECURE Act, passed shortly before the pandemic, was Congress’s first attempt in years at encouraging retirement savings. Much of that encouragement comes through provisions
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about potential effects of survivor’s benefits from public pensions, how the earnings test might be applied when someone reaches full retirement age in January and which month to apply to ensure full age 70 benefits. Larry Kotlikoff is a Professor of Economics at Boston University
WASHINGTON, D.C. – APRIL 14: Attendees rally on the West Front of the U.S. Capitol building with … [+] Teamsters Union retirees who traveled from across the country to voice their opposition to deep cuts to their pension benefits on April 14, 2016, in Washington, D.C. Thousands are facing massive pension cuts because of a
For anyone with aging parents, the question of getting help for your elders is likely to come up eventually. At some point, most families want to find someone to help a parent or grandparent remain safely at home. The effort to get a caregiver often starts out casually. You ask around. Someone refers you to
Portraits of Henry Kravis and George Roberts of KKR shot at Shangri La Hotel Tokyo, in Japan on April 8, 2019 for Forbes. (Photo / Ko Sasaki for Forbes) Ko Sasaki/The Forbes Collection Get ready to add the biggest blue chip private equity firms to your 401k. The world’s largest buyout firms like Blackstone Group,