| Jun 10, 2014
| 6:17 AM
Retired cops, firefighters and City Hall employees sometimes get an extra payday known as the 13th check.
It comes each year the pension funds have robust earnings and has ranged from $200 to more than $26,000.
But it comes at a cost to taxpayers: The...
| Aug 6, 2014
| 4:59 PM
A federal appeals court on Wednesday upheld Mayor Stephanie Rawlings-Blake's overhaul of Baltimore's police and fire pension system, but left open avenues for the unions to keep fighting.
"I'm certainly pleased with the court's ruling," Rawlings-Blake...
| Jun 9, 2014
| 5:40 PM
Democratic Gov. Pat Quinn on Monday signed into law a measure that would cut pension benefits and raise retirement ages for some City Hall workers, granting Mayor Rahm Emanuel a victory but opening himself up to attacks from Republicans who contend the...
| Jun 12, 2014
| 4:30 AM
Gov. Pat Quinn on Wednesday labeled his Republican opponent Bruce Rauner a “saboteur” who worked to block overhauls of state and city government worker pension systems but failed to present his own solutions.
The Democratic governor’...
| Jun 12, 2014
| 11:46 AM
In the long march from employer-paid pensions to a 401(k) world, a few holdovers remain.
Older workers still typically subsidize younger workers in paying for plan costs. Participants in workplace plans typically must wait for the end of the trading...
| May 27, 2014
| 2:43 PM
SPRINGFIELD — Cook County Board President Toni Preckwinkle got a government worker pension overhaul through the first couple hurdles at the Capitol on Tuesday, but she’s still not saying how she’d come up with more money to pay for the...
| May 27, 2014
| 4:21 PM
State lawmakers were supposed to fix a law that gives two freshly appointed judges pensions of $106,000 each, plus lifetime health benefits, when they retire — in less than four years.
Before they finish their first eight-year term.
| May 25, 2014
| 4:00 AM
Dear Liz: My husband and I lost our home because of unemployment and being underwater (the value of the house was less than the mortgage). We now both are working full time and saving to buy another home. My father-in-law offered to help us by selling...
| Aug 18, 2014
| 12:04 PM
More than a third of American adults have no retirement savings, and 14% of those ages 65 and older also haven’t put money away yet, according to a new study.
The low savings rate for people at or approaching retirement age is alarming, said Greg...
| Aug 19, 2014
| 10:53 AM
Americans know that 401(k) retirement plans are important, but they spend only a moderate time researching investments and are often confused about how to pick the best funds, according to a new survey.
Nearly nine in 10 workers view 401(k) plans as...
| Aug 20, 2014
| 2:30 AM
Last week, I provided an update to the finances of the Social Security system ("Social Security: Broken, but not Broke). Considering that a total of 59 million Americans will receive some form of Social Security benefits in 2014, with payouts estimated at...