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                      by Jon Styf  Tennessee’s state pension system made money for the 12th consecutive year, earning a 25.6% return last fiscal year; the fourth-highest rate since the Tennessee Consolidated Retirement System (TCRS) was consolidated in 1972. The state continues to have one of the healthiest pension systems in the country, according...
    Tennessee’s state pension system made money for the 12th consecutive year, earning a 25.6% return last fiscal year; the fourth-highest rate since the Tennessee Consolidated Retirement System (TCRS) was consolidated in 1972. The state continues to have one of the healthiest pension systems in the country, according to Pew Charitable Trusts research . “Successful state pension systems, such as those...
    FG Trade | iStock | Getty Images Help may be on the way for workers who lose track of their 401(k) accounts as they move from job to job throughout their careers. Under a proposal included in retirement legislation that's pending in Congress, an online "lost and found" database would be established to help locate those missing accounts, as well...
    MoMo Productions | DigitalVision | Getty Images For some retirees, getting a large pension payment can become a big problem. Let's say a pension plan mistakenly has been paying a participant too much and requires the person to pay back the money, typically through reduced future payments. That can cause many a retiree a lot of hardship. However, a congressional...
    Republican and Democrat lawmakers are asking President Joe Biden’s administration for its plan to restore the pensions of about 20,000 Delphi workers following a pension-slashing scheme during the Obama administration’s auto bailout. In 2009, as part of the Obama-Biden administration’s taxpayer-funded bailout of General Motors (GM), the Pension Benefit Guaranty Corporation (PBGC) terminated the pension plans of about 20,0000 non-unionized Delphi workers. In...
    SUZE Orman has warned Americans to check their workplace retirement plans now - or face poverty in older years. The financial expert urged her followers on Twitter to check how much they're putting into their plans - as they might not be saving enough to comfortably retire. 1Suze Orman has warned Americans to check their workplace retirement plansCredit: NBCU Photo...
    SANTA ROSA (CBS SF/BCN) — The Sonoma County Board of Supervisors unanimously adopted on Friday a $2 billion budget for the 2021-2022 fiscal year that steers money towards the needy and wildfire prevention. County officials said the budget includes investments in areas such as emergency response, vegetation management, COVID-19 recovery and the county’s pension liability. There’s also million put towards...
    Tennessee Senate and House committees passed state budget proposals Wednesday, and the full chambers will hear and discuss the spending plans Thursday. Both plans add $250 million to the state’s pension fund while cutting $100 million from Gov. Bill Lee's $200 million proposal for local government grants and $100 million from his $200 million broadband expansion proposal to cover the...
    TALLAHASSEE (CBSMiami/NSF) — Amid fierce opposition from Democrats, the Florida Senate on Thursday approved a proposal that would block future teachers and other government workers from enrolling in the state’s traditional pension plan. The Senate voted 24-16 to back the change, which would take effect with employees hired as of July 1, 2022. Those workers would be required to enroll...
    The $1.9 trillion rescue package enacted recently includes an estimated $86 billion aid package for multiemployer pension plans. This assistance will give the weakest plans enough money to pay benefits for the next 30 years. Critics claim that the rescue should not have been part of the legislation because the plans’ problems do not stem from COVID-19; it includes...
    Jury selection begins in Derek Chauvins trial in the death of George Floyd. Heres what to expect Anti-filibuster liberals face a Senate math problem The $1.9 trillion Covid relief bill offers $86 billion in grants to failing multi-employer pension plans, to help pay benefits for union workers. Funding in more than 100 plans (nearly 10% of the total)...
    By MIKE CATALINI, Associated Press TRENTON, N.J. (AP) — New Jersey Gov. Phil Murphy's $44.8 billion budget proposal, unveiled last week, is a boon for labor and public sector pensioners, thousands of middle class residents and schools across the state. Though, the spending plan must first go through the Democrat-led Legislature before it becomes law, the governor's proposal by and...
    TORONTO (AP) — The chief executive of the fund that manages Canada Pension Plan investments has resigned after it was revealed that he had traveled to the United Arab Emirates, where he was vaccinated against COVID-19. CPP Investments said Friday Mark Machin tendered his resignation to the board Thursday night. Machin joined CPP Investments in 2012 and was appointed president...
    New Jersey Gov. Phil Murphy laid out a more than $44.8 billion spending plan for the 2022 fiscal year, one that increases spending but also anticipates revenue growth. The budget includes more than $1.5 billion in new funding for pre-K-through-12 schools and more than $1.2 billion for “property tax relief programs.” It also incorporates a proposed $6.4 billion pension...
    TALLAHASSEE (CBSMiami/NSF) – In a potentially major change to the Florida Retirement System, a Senate Republican on Thursday proposed a bill that would require new state employees to enroll in a 401(k)-style plan. The proposal (SB 84), filed by Sen. Ray Rodrigues, R-Estero, would apply to employees joining the retirement system as of July 1, 2022. Currently, employees can choose...
    BEIJING – A decision by the Communist Party of China to raise the retirement age under a long-term economic and development plan has sparked anger on social media in fast-greying China. In 2018, nearly 250 million of China’s 1.4 billion people were aged 60 or over. That is 17.8 percent of the population and it may exceed 33 percent...
    BEIJING (Reuters) - A decision by the Communist Party of China to raise the retirement age under a long-term economic and development plan has sparked anger on social media in fast-greying China. In 2018, nearly 250 million of China's 1.4 billion people were aged 60 or over. That is 17.8% of the population and it may exceed 33% by 2053,...
    Report: Mike Elias under investigation for alleged pension fraud originally appeared on NBC Sports Washington   Orioles general manager Mike Elias and director of pitching Chris Holt are being investigated for “potential pension fraud,” according to a report from the New York Daily News. Elias arrived in Baltimore in 2018 from Houston and Holt was brought in as the team’s minor...
    President Donald Trump issued a memorandum on Thursday ordering federal agencies to devise a plan to restore the roughly 20,000 pensions of former Delphi workers who had their pensions slashed in the Obama-Biden administration’s bailout of General Motors (GM). In 2009, as part of the Obama-Biden administration’s taxpayer-funded bailout of General Motors (GM), the Pension Benefit Guaranty Corporation (PBGC) terminated the pension plans...
    JCPenney is getting rescued from bankruptcy in a plan that stands to worsen its workers’ nest eggs. The century-old department store’s soon-to-be new owners said they don’t plan to take control of the retailer’s pension promises to some 52,000 current and future retirees, according to court documents. Mall owners Simon Property Group and Brookfield Asset Management rejected the $3.2...
    JCPenney is getting rescued from bankruptcy in a plan that stands to worsen its workers’ nest eggs. The century-old department store’s soon-to-be new owners said they don’t plan to take control of the retailer’s pension promises to some 52,000 current and future retirees, according to court documents. Mall owners Simon Property Group and Brookfield Asset Management rejected the $3.2 billion...
    NYC reports uptick in virus positivity rate 6 Recent Changes at the Grocery Store You Need to Know About How to Find a Lost Pension Plan Some people lose track of their pension plan from an old job. A company might merge with or be bought by another company and change its name, move to a new location in...
    I always thought that when I finally hung it up on journalism I would go into business providing financial advice to criminals. The more I wrote about them, the more I could see the need. (Memo to celebrities trying to get kids into college: No, do not try to deduct illegal bribes on your tax return. The IRS won’t like...
    SAN ANTONIO – Texas’ largest police union is accused of failing to make more than $1.3 million in pension contributions, according to a federal lien filed in Bexar County this month. The San Antonio office of the Combined Law Enforcement Associations of Texas, or CLEAT, is listed as the debtor in the lien filed Aug. 19 by the Pension Benefit...
    Starting to hit home: Percentage of Black players in MLB still low, but there are signs of growth The Truth About Wet Vs. Dry Cat Food What to Do With Your Pension Fund When You Retire Figuring out what to do with your company pension when you retire can be a bit more complicated than making a plan for...
    Jorge Masvidal holds nothing back in candid interview about politics with Dan Le Batard I’ve Been Wearing Amazon’s Best-Selling Workout Tank Almost Every Day This Summer—and I’m Not Stopping Anytime Soon Pension vs. 401(k) When you're ready to retire, you'll want to have more than Social Security to pay the bills. Those benefits typically only provide enough money to...
    PARIS (AP) — France’s government is delaying a divisive overhaul of the country’s retirement system until at least the end of the year because of the economic crisis unleashed by the pandemic. Prime Minister Jean Castex announced after meeting with unions Friday that the pension reform “will be maintained.” But he added that the government will extend negotiations on...
    SANTIAGO (Reuters) - Protesters in Santiago defied a citywide lockdown meant to combat the spread of the coronavirus, barricading roads and looting early into the morning on Wednesday in support of a proposal to allow Chileans to withdraw part of their pensions amid the crisis. The unrest comes just hours before debate begins anew over the bill, which would grant...
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