How much do you need to retire happy? Wes Moss has your number

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It may be true that money can’t buy you love, but can it buy happiness in retirement? Most people would say it can, but financial planner Wes Moss wanted the details: Just how much money does it take to retire happily – and is there a point of diminishing happiness return on the size of […]

Why Congress needs to reform multi-employer pensions – now

Josh Gobtaum, director, Pension Benefit Guarantee Corp.

The window is closing on our last best chance to protect the pensions of 10 million American workers and retirees. These workers are in multi-employer plans – traditional defined benefit pension plans jointly funded by groups of employers in industries like construction, trucking, mining and food retailing. Although many of the country’s 1,400 multi-employer plans […]

The truth about Social Security and Medicare, straight from the trustees

Trustee Jacob Lew, Secretary of the Treasury.

If you worry about the future of Social Security and Medicare, this is the week to get answers to your questions. The most authoritative annual reports on the long-term health of both programs were issued on Monday, and while the news was mixed, there are reasons to be encouraged about our two most important retirement […]

Why last-minute IRA contributors are leaving money on the table

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Individual Retirement Account contributions are getting larger – an encouraging sign of a recovering economy and improved habits among retirement savers. But there is an “I” in IRA for a reason: investors are in charge of managing their accounts. And recent research by Vanguard finds that many of us are leaving returns on the table […]

Why 401(k)s won’t offer longevity annuities anytime soon

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Longevity risk – that is, the risk of outliving your retirement savings – is among retirees’ biggest worries these days. The Obama administration is trying to nudge employers to add a special type of annuity to their investment menus that addresses that risk. But here’s the response they’re likely to get: “Meh.” The U.S. Treasury […]

Twitterverse has questions about retirement; we’ve got answers

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The Twitterverse has questions about retirement. What’s the best way for young people to get started saving? Are target date funds good or bad? Should we expand Social Security to help low-wage workers? Those are just a few of the great questions I fielded during a retirement Tweet-up convened this week by my colleagues at […]

Retirees: Have you checked bank CD rates lately?

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Getting  low-risk yield has been one of the toughest challenges for retirees ever since the financial meltdown of 2008-2009. Interest rates are near zero, and many retirees are nervous about bonds out of fear that rates might jump. All of which leaves a simple question: How about a good old-fashioned certificate of deposit? Retirees desperate […]

Hello, Congress: Americans want a strong Social Security system

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Political polarization is at a historic peak. Americans are divided on gun control, abortion, healthcare and privacy, according to a study released last month by the Pew Research Center for the People & the Press documenting our increasing ideological rigidity and partisan antipathy. Then there’s Social Security. The public is worried deeply about the finances […]

Retirement and same-sex couples, a year after DOMA ruling

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Something big happened in the world of retirement benefits a year ago today: The U.S. Supreme Court struck down the Defense of Marriage Act. The court’s recognition of marriage equality has transformed life for many same-sex couples. In the realm of retirement benefits, the DOMA ruling opened the door for couples to receive spousal benefits […]

Senate turns up heat on cuts in Social Security offices, services

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Until earlier this year, there was a Social Security field office in Gadsden County, Florida, in the state’s panhandle. It’s the kind of place where seniors need to get in-person help with their benefits rather than pick up a phone or go online. “Our poverty rate is nearly double the state average, and we trail […]