Pensions

In a new plan unveiled by the Virginia governor, state employees would have to start contributing 5% of their pay towards their pension funds. This plan was created in an effort to save the pension plan which has been running in the hole for years. Employees are not thrilled about the potential cut in...
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On Monday, the Public Employee’s and Retiree’s Benefits Commission (PERBC) listed the recommendations they will be presenting to Maryland’s state governor next month in regard to state employee benefits. The commission plans to recommend the following: • Increase number of years that an employee must work for the state from 5 to 10 before...
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A new report claims that the New York state pension system is currently underfunded by $71 billion and that tax revenue would have to nearly double to $4 billion annually over the next five years to keep it solvent. Assets in the system, the third-largest public pension system in the U.S., have declined significantly...
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Experts in the pension industry said that plans to change the pension rules in order to give investors more freedom over how they spend their savings for retirement might be equivalent to an enormous tax cut for the rich. The Treasury recently announced that it would end a law requiring pensioners to buy an...
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Following a year that was more than disappointing, the rates on annuities that retirees rely on have finally begun to rise again. Since money market conditions are improving, six major providers have reacted by raising their rates. This means that someone with £100,000 invested in one of these products with an annual income of...
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A federal budget proposal threatens to freeze pay levels for retired military personnel and civilians who worked for the federal government for a period of three years. The budget proposal would cut deficits by two hundred billion dollars by 2015. The plan was proposed by Alan Simpson, a former republican senator, and Erksine Bowles,...
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A Grantor Retained Annuity Trust (GRAT) is ultimately an estate planning strategy that is largely based on interest rate predictions and assumptions. Basically, investors initiate the GRAT using assets they believe possess the potential to earn more than the IRS’s detection standards throughout the rigidly specified time term. Ultimately, the goal of the GRAT...
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You would be hard pressed to find somebody who is not interested in living comfortably and free of stress during their retirement. Unfortunately, it is during this time that many of the costs of living start to escalate, such as more frequent visits to the doctor. If you want to ensure that you will...
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You would be hard pressed to find somebody who is not interested in living comfortably and free of stress during their retirement. Unfortunately, it is during this time that many of the costs of living start to escalate, such as more frequent visits to the doctor. If you want to ensure that you will...
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The difference between the amount that men and women earn after they retire is large, and growing. Younger women are currently saving barely more than half as much as men. Two thirds of the people who receive pensions and are living in poverty are women. Women on average earn a pension of only 12,000...
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