Do no harm: Protecting retirees in shaky pension plans

We’ve all heard the physician’s Hippocratic oath: “First, do no harm.” But there’s a similar, less-well-known principle in the world of pensions: First, do no harm to retirees. When pension programs are changed, it’s almost unheard of to cut benefits for retirees in their seventies, eighties or beyond, who would have trouble adjusting to abrupt […]

Is $1 million enough to retire?

The New York Times carried a story earlier this month with the provocative headline For Retirees, a Million-Dollar Illusion. The story points out the difficult math facing retirees due to ultra-low interest rates, which make it tough to keep up with inflation with fixed-income investments. But the story leads us to an unfortunate — I […]