Video: Comparing the Retirement Income Systems of Australia and the United States

The above talk was given by John Piggott (University of New South Wales) at the 2014 Pension Research Council Conference; Steuerle spoke about his research into Australia’s “atypical” retirement system, how it compares to the United States’ system, and the lessons that can be learned from the comparison.  

Nevada PERS Pokes Holes in Study Claiming Public Pensioners Make More in Retirement Than They Did On Job

Officials from the Nevada PERS are disputing a think tank report that claimed public pensioners were making more money in retirement than they did while working. The report was produced by the Nevada Policy Research Institute. But Nevada PERS says the findings were based on a small sample size that renders the results meaningless. From the Las Vegas ...

New York Lawmakers “Retire”, Collect Pensions, But Don’t Leave Office

A quirk in New York state law allows certain lawmakers to “retire” without actually leaving office – letting them collect their pensions while still on the job and earning their normal salary. From the New York Post: A wacky loophole in state pension law allows legislators who are at least age 65 and elected before 1995 to retire for pension ...

Illinois Pension Board Director to Retire; Search for New Director Begins Soon

William Mabe, executive director of the State University Retirement System of Illinois, has announced that he will retire on March 31. The System plans to hire a firm to search for and secure a new director by the time Mabe leaves his post. From the Chicago Sun-Times: William Mabe, executive director of the State University Retirement System, will ...

NYU President Speaks About $800,000 Pension

New York University President John Sexton has been a polarizing figure the last few years, not only for the large exit bonuses he approved for outgoing staff but also for his own $800,000 pension. He addressed his pension at a dinner and question-and-answer session last week with NYU students. On his pension, from NYU Local: “After taxes, that’ll ...

Pension Tax Could Loom Large in Race for Michigan Governorship

Pensions aren’t the biggest issue in Michigan’s race for governor. But with incumbent Rick Snyder in a dead heat with challenger Mark Schauer, Snyder’s 2011 pension tax increase could prove to be a major factor in the way the race eventually plays out. From Money News: Polls have shown Snyder, 56, in a dead heat with Democratic challenger Mark ...

The Accounting Implications of Job-Hopping and the Shift to 401(k)s

Two trends have been building in recent years, and now they are set to collide: on one hand, employers are increasingly shifting workers into defined-contribution plans. On the other, workers are becoming more likely to move between companies numerous times over the course of their working lives. Those trends together are bound to butt heads. Canover ...

As Workers Grow Older, Their Retirement Contributions Get Bigger

As one grows older, one also grows wiser. Perhaps that explains the findings of a recent survey, which found that workers contribute more to their retirement accounts–both in terms of dollar amount and percentage of salary–as they get older. From Pension Benefits: Our study revealed that 60.2% of employees were saving for retirement at ...

Does Knowledge Of Pension Reforms Affect Retirement Decisions?

If you knew your pension fund was in great shape, would it alter when you chose to retire? Conversely, if you knew your fund was in dire straits, would it increase the probably of working part-time during retirement? Two Norwegian researchers set out to answer those questions. As published in the Journal of Pension Economics and Finance: We present ...

Missouri Law Bans Pension Advances, Helps Retirees Recoup Losses

Pension360 covered last week the rising business of pension advances—businesses that apply the concept of a payday advance to retirement benefits by giving retirees an option to receive their pension as a lump sum. But Missouri recently passed a bill that outlaws the practice and gives retirees a chance to take legal action against the business that ...
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