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Chart: Public Workers More Confident in Pensions, 401(k)s Than Social Security, Medicare

A recent survey found that, among all streams of retirement income and benefits, public employees were most confident in their pension and 401(k) benefits; both in terms of being there for them when they retire and being sufficient enough to get them through retirement. People were least confident in Social Security and Medicare. Only a small portion ...
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How Much Are Low Oil Prices Hurting Retirement Accounts?

Americans are thrilled to be saving money at the gas pump. But low oil prices aren’t good news for everyone – namely, oil and gas companies. And that affects many Americans who are invested in oil and gas companies through their retirement accounts. But how much do low oil prices really hurt retirement funds? Dan Boyce from Inside Energy explores ...
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Do Pension Plans Give Retirees a False Sense of Retirement Security?

At one time, pensions were seen as the safest, most secure stream of retirement income. But the security of pension benefits is no longer rock-solid. That raises the question: do pensions give retirees a false sense of retirement security? Economist Allison Schrager explores the idea: Until recently, a pension benefit seemed as good as money in the ...
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China to Overhaul Pension System; Government Employees to Contribute More

China is planning a major overhaul of its pension system after complaints of unfair wealth distribution and favoritism towards government employees. Reported by Bloomberg: China will abolish a dual-track pension system that favors government employees and discriminates against others to create a fairer retirement-savings system. Under existing rules, ...
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Cuomo Rejects Bill To Increase Alternative Investments By Pensions

New York Governor Andrew Cuomo on Thursday vetoed a bill that aimed to raise the percentage of assets New York City and state pension funds could allocate towards hedge funds and private equity. From Bloomberg: Governor Andrew Cuomo vetoed a bill that would have allowed New York state, city and teachers pension funds to allocate a larger percentage ...
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Biggs: Public Pensions Take On Too Much Risk

Andrew Biggs, former deputy commissioner of the Social Security Administration and current Resident Scholar at the American Enterprise Institute, penned a column for the Wall Street Journal this week in which he posed the thesis that public pension funds invest in too many risky assets. To start, he compares the asset allocations of an individual versus ...
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Why Have Local Governments Been Slow to Adopt Automatic Enrollment Practices?

As defined-benefit plans around the country become more costly, some local governments have begun switching new hires into defined-contribution (DC) plans. But those same governments have been slow to adopt automatic enrollment practices, according to a report published in the November issue of Pension Benefits. From the article: The public sector ...
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Poll: Retirees Ready To Leave New Jersey

A recent poll reveals that a large percentage of New Jersey residents plan to leave the state before retiring – 25 percent of respondents said it was “very likely” that they would move away from New Jersey and retire in another state. From the Daily Journal: Joseph Peters wants to retire in New Jersey, but instead he plans to move elsewhere. […] He’s ...
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Are Affluent Households As Worried About Retirement As Everyone Else?

Are affluent households worrying about having enough money to last through retirement? According to a survey from Bank of America, the short answer is “yes” – in fact, it’s one of their biggest concerns. Bank of America polled 1,000 “affluent” people with investable assets of between $50,000 and $250,000. The results were published in the ...
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Survey Says: Middle-Class Americans Aren’t Saving For Retirement

A new poll conducted by Wells Fargo has affirmed what other recent surveys have already found: many Americans are putting off saving for retirement, and a significant percentage of people have no retirement savings at all. This survey is of interest because it focused specifically on middle-class Americans. The results: Forty-one percent of middle-class ...
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