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New Jerseyans are paying $1.3 million in pensions to 62 retirees who work for private groups at a time when the state's pension system is on the financial brink.
A Long Island lawyer whose fat state retirement checks raised questions about public pension system abuses has agreed to give New York a $240,565 refund.
U.S. Rep. Earl Pomeroy says the nation's pension funds need more time to recover their value from last year's market crash.
San Francisco businessman Victor MacFarlane is ending his longtime role as a real estate adviser to the California Public Employees' Retirement System, a spokeswoman for his firm said Saturday.
Four veteran New York legislators who have reached retirement age are collecting state pension payments at the same time they continue to get their regular paychecks.
California's rapid economic decline has prompted Gov. Arnold Schwarzenegger to propose what once was unthinkable — rolling back generous pensions in a state heavily influenced by public employee unions.
Records show a Detroit official charged the city's police and firefighters pension plan more than $20,000 for a trip to the Persian Gulf emirate of Dubai.
Lawmakers took a hard look Tuesday at rules adopted in the final days of the Bush administration on how millions of Americans with 401(k) and individual retirement accounts get guidance on investing for retirement.
James Marzilli abandoned his duties as a state senator and left the Statehouse after he was arrested last June on charges of trying to grope four women in broad daylight while visiting suburban Lowell on official business.
Poland's president has signed a law that slashes pensions for communist-era secret security officers and top-ranking officials of the former regime.
The direct income President George W. Bush receives from taxpayers will be cut in half when he leaves the White House next week. Still, he'll receive a pension of almost $200,000 to tide him over in his first year of retirement in his new home in Dallas.
President George W. Bush signed legislation Tuesday that frees businesses from having to pump billions into pension plans in the coming year, another sign of the nation's deepening economic crisis.
A bill transferring $23 billion in private pension funds to the state has been published in Argentina's official gazette, meaning the nationalization is now law.
College endowments and state pension funds plowed billions of dollars into hedge funds and private-equity investments as a way to balance their stock holdings, and for a time they got supercharged returns.
With pension funds facing billions of dollars in shortfalls as markets plunge, a range of companies from Ford to Verizon are pushing Congress to suspend portions of a two-year old law they say could force them to make job cuts as they shift scarce money into ailing retirement pools.
The federal agency charged with backstopping pension benefits for 44 million Americans lost almost $5 billion from investments in stocks in the budget year that ended Sept. 30, the agency head acknowledged Friday.
Argentina's ruling party wants $23 billion in private pension funds brought under government control by the end of November — and given congressional sentiment, some kind of nationalization seems a sure bet.
Argentina's surprise move to nationalize $30.1 billion in private pension funds amid the global fiscal crisis has driven the nation's benchmark stock index down 20 percent in two days.
President Cristina Fernandez proposed a government takeover of nearly US$30 billion in private pension funds on Tuesday, saying retirees must be protected from the global financial crisis.
All those speculators getting the blame for driving up the price of oil these days — just who are they? For part of the answer, look in the mirror.
The subprime mortgage crisis has yielded at least one benefit for states: Mortgage-related investments have become so cheap that they are luring some pension funds to buy.
Some 600,000 poor Chileans will receive monthly pensions starting in July under a law signed Tuesday by President Michelle Bachelet that plugs gaps in Chile's widely copied private pension system.
A "whites only" sign was still hanging on the precinct house water fountain in 1964 when James Booker joined the suburban College Park police force. He soon learned it wasn't the only thing off limits to Georgia's new black recruits.
The federal agency that insures private pension plans for millions of people in the U.S. ran a deficit of $13.1 billion this year, a four-year low and a big improvement from last year.
On the stump and in new TV ads, Democrat Barack Obama is focusing on baby boomers' retirement worries and targeting companies that "leave workers high and dry."
Congress: Turning A $90,000 Bribe Into A $50,000 A Year Pension After 18 years in Congress, Congressman William Jefferson of Louisiana, a Democrat, will serve 13 years for bribery and if he grins as he stamps out plates, he is still eligible for a guaranteed $50,000 pension in his first year of retirement, which will increase each year.
Two Bad Choices for Pension Funds: Cut Benefits Or Take Greater Risks to Rebuild AssetsThe upheaval on Wall Street has deluged public pension systems with losses that government officials and consultants increasingly say are insurmountable unless pension managers fundamentally rethink how they pay out benefits or make money or both.
Eight per cent of Croats aged 35 to 49 are retired Marijana Baden from the Institute for Public Finance said that the number of Homeland War veterans who were receiving pensions had increased more than twice from 2003 to 2009. Six years ago, they numbered 30,865, today 64,394.
Australia's British pensioners fight for their rightsBritish expatriates living in Australia are preparing to argue the case to "defrost" their British pensions in an appeal to the European Court of Human Rights in Strasbourg next week.
Good Old Fashioned Service - Your Ice Cream Free - We Don't Take American ExpressIn lieu of accepting the American Express card? Free ice cream. Now that's a new twist! It probably would have been $15.00 in fees eaten up anyway. What a novel concept!
Amid Cost Cutting, Los Angeles City Employee Pensions "Continue To Soar" Collecting nearly $318,000 a year, the former head of Los Angeles' Department of Water and Power tops a list of 841 city pension recipients paid six-figure benefits, according to newly obtained records.
United Kingdom: Pensions Regulator Says Retirement Age Could Be Raised To 70 Soon Because People Are "Frightened" Of Saving The state pension retirement age could be heading for 70, the UK's pensions regulator has told the BBC.
AIG breakup nets Wall Street $1 billion bonanza: reportBreaking up is hard to do, right? Not when there is money to be had hand over fist managing the "divorce" of the business units. Lawyers, Wall Street Banks and other Madoff-types stand to make a killing.
American Express Exec's Thomas Schick $1.8 Million Sale How do you still feel about American Express? Feel like your fees just bought someone a big house or a few luxury cars?
American Express Class Action Suit: Merchants Fight BackThe complaint states: "American Express also charges a discount fee on transactions that were never completed because the item was returned.
CalPERS, the U.S.' Largest Government Employees Pension Fund, Has a Whopping Annual Loss Of An Estimated $56.8 billion, Almost a Quarter Of Its Investment PortfolioCalifornia's huge government pension fund is expected to report today a whopping annual loss of an estimated $56.8 billion, almost a quarter of its investment portfolio.
San Francisco Civil Grand Jury says City Pension Costs Are "Skyrocketing" and Place Unfair Burden On Future Generations San Francisco's skyrocketing pension costs are untenable and both unions and politicians are to blame for abusing the system by negotiating extraordinary pension and retirement benefits without considering the unfair burden on future generations, according to a report issued by t …
Next Taxpayer Bailout Aimed At Failing Union PensionsHundreds-of-thousands of multi-employer defined benefit union pensions are underfunded. The unions' only hope is to force more and more companies to fund these massive failing pension plans.
No Country for Middle-Aged Men For workers whose pensions vanish, the only safety net is the federal Pension Benefit Guaranty Corporation, an insurance fund financed by employer premiums.
I hear a lot of "help the poor", but I don't hear "help the poor over here". Sometimes I think a take for granted that we are the lucky ones who are managing to get by here in the United States.
Fred Goodwin looses his mind. (Satire)SIR Fred Goodwin was understood to have lost his mind last night after deciding to give up half his pension and leave his luxury villa in the South of France.
Protect Seniors mission is to pursue a legislative remedy for the court battle won by Corporate America and pass legislation which makes it illegal to take away retiree healthcare benefits from the retirees who EARNED them.
Every HR Professional's Nightmare: Anxiety' hitting British workers' Someone chuckled when I said, "I have felt like 2.5 million since I have been away from that toxic cesspool. Stress kills."
Credit Cards: An Exchange of Messages from ReadersFelix Salmon takes an interesting look into credit cards and interacts with his audience. It explains the dynamics of the higher-end consumer that pays their bill in full monthly and why the credit card markets will be a matter of convenience as opposed to necessity.
Cops, firefighters and teachers around the country are at it again. I swear, if they don't stop whining about their pension shortfalls I'm going to cry. One policeman in Omaha will retire with a pension of over $84,000 a year.
SEC Issues New Trading Rules for EmployeesSEC Chairwoman Mary Schapiro unveiled new rules that would prohibit employees from trading stocks of companies that are under investigation by the agency. The rule pertains even if the SEC employees are not personally involved in the investigation.
Scottsdale AZ Man Rearrested In $80 Million Ponzi SchemeYou can run... but you cannot hide. This is almost comical. Original arrest was on April 15th, proving Danny isn't so wise after federal authorities deepened the multi-state investigation.
How Not to Lose Your AmEx Black Card: Staying a Step Ahead of OutplacementA witty article on the uber-mystique of a credit card product called the Centurion Card tangled with the current state of the economy.
Kevin Johnson - Businessman Stung by AmEx Now Helps Young ConsumersThere was a lot of video and written press about this successful Atlanta businessman at the time of his tangle with American Express. Now he's investing his time wisely with consumer advocacy and helping the youth understand financial literacy.
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