Are women at long last closing the long-standing pay gap with men? Median pay for American women was 22 percent lower than for men in 2008, according to the U.S. Census Bureau. That gap hasn’t changed much over time, and it’s a key factor in the economic security challenges that women face in retirement. But [...] [read full article…]
Could health reform unleash the inner entrepreneur in millions of older workers? There’s plenty of evidence that baby boomers in their fifties and early sixties want more independence and flexibility in their work. Many are ready to take a risk via second careers and entrepreneurial ventures-but have been hanging on to jobs solely for health [...] [read full article…]
“Reform” advocates concerned about the federal deficit want to increase Social Security’s full retirement age. That might work out for knowledge workers, but it’s a tough proposition for people who do physical labor. And for everyone involved, a higher retirement age amounts to a significant cut in lifetime benefits. The New York Times offers an [...] [read full article…]
The Social Security Administration is pushing to tighten a loophole that allows beneficiaries to increase their payments by thousands of dollars annually through a “resetting” of the date when benefits begin. Under Social Security’s rules, workers can file for benefits as early as age 62, but they receive higher monthly payments when they wait until [...] [read full article…]
The recession is eroding retirement security even more deeply, as more Americans tap into all available resources to meet current needs. In many cases, that means tapping into 401(k) accounts, IRAs, or taking Social Security early. Fidelity Investments reported recently that 11 percent of its active 401(k) plan participants borrrowed or withdrew funds from their [...] [read full article…]
