retirement savings

NYC Teachers’ Pension Fund Divests From Gun Makers

Posted on 02/15/2013 by Associated Press | General News | Comments

Bulletin Today | Money & Savings | WorkFrom The Associated Press NEW YORK (AP) — The $46.6 billion pension fund for New York City schoolteachers has sold its stock in companies that make guns and ammunition, city officials announced Friday. City Comptroller John Liu said the Dec. 14 school shooting at Sandy Hook Elementary School in Newtown, Conn., prompted the fund’s board of trustees to review the system’s investments in the gun industry. He said the board concluded that divestment would be consistent with the fund’s fiduciary …

Ready, Set, Retire. Or Not.

Posted on 02/8/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | WorkHow can we be brave enough to retire when our nest eggs aren’t moving in the right direction fast enough? Many of us older workers are still smarting from financial crisis and the toll it took on our net worth. We watched our retirement savings fall and start to inch their way back. But we’ve also been told, time and again by financial experts, that we need to stay on the job longer to save as much as we can so …

Worried About Running Out of Money? Don’t Read This

Posted on 01/15/2013 by Carole Fleck | Money and Work | Comments

Bulletin Today | WorkWe know we shouldn’t take money from our 401(k) plans before we retire because we don’t have enough saved in the first place, and secondly, it raises the risk that we’ll run out of money in our later years. But more of us are doing it anyway. A report coming out this week says an increasing number of us are withdrawing money from our retirement accounts to pay the mortgage, to pay down credit card debt and for other non-retirement …

Taxpayers, a Few Things to Know Before 2013

Posted on 12/20/2012 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkAs a new year approaches, you can still make some tax-related moves to improve your bottom line in 2013. Start by stashing away $2,000 toward retirement savings in 2012 and get a tax break for part of that contribution. The so-called saver’s credit allows low- and moderate-income workers to offset part of the first $2,000 that they contribute to IRAs, 401(k) and other similar workplace retirement plans. [Calculate how much you need to save to retire comfortably by clicking here]. …

Nearly Half of Large Employers Shifting Retirement Saving Burden to Workers

Posted on 10/22/2012 by Carole Fleck | Money and Work | Comments

Bulletin Today | Money & Savings | WorkBoomers and younger workers don’t have much to celebrate in a new report on retirement plan trends among big employers. It shows that 80 percent of companies with more than 1,000 employees offer a defined benefit pension plan, but within five years, that will change. And not for the better. Thirty-five percent expect to continue to offer pension plans to existing employees but not new workers, 13 percent will likely freeze their plans and 10 percent say they’ll terminate their …

Gen X and Y Saving More, Earlier Than Boomer Parents

Posted on 08/29/2012 by Elizabeth Brown | Brooklyn, NY | Comments

Money & Savings | News RoundupsCall it generational rebellion at its finest: It seems all the gloomy retirement forecasting for boomers has been inspiring their kids to save more. Workers in Gen X and Gen Y are both starting retirement savings earlier and more likely to make automatic contributions than members of the boomer generation, according to a new survey.