Posts Tagged ‘Retirement’

Oct
2014
21

“It Is Being Stolen”: Louisiana’s GOP Treasurer Says State Robbing Workers’ Health Plans

  In an op-ed for the New Orleans Times-Picayune, Louisiana State Treasurer John Neely Kennedy lays out how legislators “stole” from state workers and cheated retirees out of health coverage in order to put up the facade of a balanced budget.  What is worse is that in the end the taxpayer is on the hook [&hellip...
Jul
2014
25

New Jersey’s Pension Fund Thriving Despite State’s Financially Risky Maneuvers

  The value of the state of New Jersey’s Pension Fund is currently $80 billion with analysts projecting a 16 percent return in fiscal year 2014.  This news comes a month after Gov. Chris Christie made significant cuts to annual contributions in the 2014 budget.   At the latest meeting of the investment council, Chairman [&hellip...
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Feb
2014
19

Conflict of Interest Rate: PBS Pension Program Funded by Anti-Retirement Billionaire

Conflict of Interest Rate: PBS Pension Program Funded by Anti-Retirement Billionaire
  An investigative article, “The Wolf of Sesame Street” by David Sirota, reveals that the PBS series “Pension Peril” was secretly funded by billionaire power broker John Arnold.  The revelation stirs questions about the objectivity of the PBS news department. “Pension Peril” seems to draw the same conclusions and prescriptions...
Dec
2013
11

STUDY: For Women, Unionization Ensures Good Wages, Retirement Security Far More Than College

STUDY: For Women, Unionization Ensures Good Wages, Retirement Security Far More Than College
  An issue brief from the Center for Economic and Policy Research has revealed the tremendous advantage unionized women have over their non-union counterparts in terms of wages and retirement security.  The paper, “Women Workers and Unions,” studied women without a college degree and found those who joined a union frequently closed the...
Oct
2013
16

Peabody, Patriot Settle with Mine Workers, Putting Temporary Stop to Pension Bleeding

Peabody, Patriot Settle with Mine Workers, Putting Temporary Stop to Pension Bleeding
  Last week, a deal was reached between the United Mine Workers of America (UMWA) and Peabody Energy over the future of worker pensions and health benefits.  The deal means Peabody will pay $310 million into the retirees’ health fund and Patriot Coal will pay $60 million.  Still, these numbers represent roughly one quarter of [&hellip...
Oct
2013
3

Striking LiUNA! 563 Cretex Workers Gain MN Gov’s Support, May Be Joined by IUOE Local 49

Striking LiUNA! 563 Cretex Workers Gain MN Gov's Support, May Be Joined by IUOE Local 49
  Workers at the Minnesota company Cretex, represented by LiUNA! Local 563, have been on strike for over 100 days in an attempt to avoid having their retirement packages slashed by 80 percent. The work stoppage has caused road construction delays which Gov. Mark Dayton and the Minnesota Department of Transportation can no longer bare....
Jul
2013
29

The Emperor’s Old Clothes: False Recovery Being Masked by Everyone Looking at Wrong Numbers

The Emperor's Old Clothes: False Recovery Being Masked by Everyone Looking at Wrong Numbers
  On the Washington Post wonkblog, Dylan Matthews recently took a dive into depressing new Century Foundation research that suggests when the number of people retiring or dropping out of the workforce is considered, unemployment remains exactly where it was at the height of the recession.  In the Daniel Alpert study in question, low-wage...
Jul
2013
23

Report Reveals Stunning Lack of Fiduciary Responsibility as Lobbyists Block Vital 401k Protections

Report Reveals Stunning Lack of Fiduciary Responsibility as Lobbyists Block Vital 401k Protections
  Bank regulations. We can’t seem to get enough of them in place. And the reason is pretty simple: Lobbying power. Last week, a group of 75 lobbyists hit Capitol Hill to block proposed Department of Labor (DOL) regulations that would force those in charge of 401(k)’s to put retirees best interests before profit. The [&hellip...
Jun
2013
26

Without a Contract All Year, LiUNA! Local 563 Goes on Strike as Cretex Tries to Pillage Pensions

Without a Contract All Year, LiUNA! Local 563 Goes on Strike as Cretex Tries to Pillage Pensions
  Members of Minnesota’s Laborers International Union of America (LiUNA!) Local 563 hit the picket line last week after negotiations broke down between 40 construction craft laborers and the manufacturer Cretex.  Working without a contract since the beginning of 2013, workers authorized a strike claiming management has failed to meet...
May
2013
31

CA Could Be First State to Implement Automatic Private Sector IRAs, Firm Up Retirement

  In California, legislation to create a state-run retirement plan is being proposed by State Sen. Kevin de Leon whose aim is to help those likely to face economic hardship upon retirement by. A recent wave of publicity is bringing the important issue of private sector retirement to the forefront and could result in a [&hellip...