pensions

Older Job Seekers Have Little Patience for Long Search

Posted on 02/6/2014 by | Money and Work | Comments

WorkWhen it comes to the stressful search for a job, older workers apparently have less tolerance for the process. Most either land a job or stop searching altogether within a year or less, according to a study by the Center for Retirement Research at Boston College. Those who have employer-paid pensions, retirement assets and Social Security to rely on were more likely to end the job hunt even sooner, usually within four months, the study found. In fact, just being eligible …

More New Retirement Account Proposals

Posted on 02/5/2014 by | Washington Watch | Comments

Bulletin Today | PoliticsAmericans are way short in their retirement savings, and President Obama’s MyRA plan, which he unveiled last week, isn’t the only new proposal that aims to help with that problem. Sens. Susan Collins, R-Maine, and Bill Nelson, D-Fla., also offered a savings plan. Sen. Tom Harkin, D-Iowa, has one of his own, which follows a report he released last summer. Of these three proposals, Harkin’s is the most ambitious. His Universal, Secure and Adaptable (USA) Retirement Funds would create a …

Pensions Under Attack, AARP Fights Back

Posted on 10/30/2013 by | AARP Blog Author | Comments

PoliticsThe financial security of many older Americans could be at risk under a proposed law that was the focus of a hearing this week on Capitol Hill. Under the proposed plan, millions of retirees could see cuts to the benefits they’ve earned through a lifetime of hard work. At issue is a proposal by multi-employer pension plans (plans in which many employers contribute to a common fund to cover their mobile workforce) devised to save the plans from insolvency.  That …

Dignity for All Generations

Posted on 10/24/2013 by | Chief Volunteer | Comments

Your LifeThe following is a response from AARP President Rob Romasco to a recent New York Times op-ed by Tom Friedman: Credit Thomas Friedman for advancing the much needed conversation on the retirement security for all Americans via his “Sorry Kids, We Ate It All.” However, the analysis is incomplete both in fact and in context. Sign up for the AARP Money Matters newsletter Total public investment for older and younger Americans is roughly equal. Our members fight to protect Social Security …

Cutting Detroit Retirees’ Pensions Violates State Constitution

Posted on 08/23/2013 by | AARP Blog Author | Comments

PoliticsLast month, we heard the news about the City of Detroit filing for Chapter 9 bankruptcy protection in federal court, becoming the largest city to ever do so.  The city’s financial crisis threatens the retirement security of more than 30,000 active and retired employees, and almost immediately, lawsuits were filed in state court to protect Detroit’s two pension funds during the city’s restructuring. Michigan Attorney General Bill Schulte has said that, under the state constitution, pension obligations to state and …