Those Pension Cuts and What You Need to Know

Congress recently carved a hole in a 40-year-old pension law that has prevented employers from cutting benefits earned by those already retired. This change applies to people covered under multiemployer plans that are in critical financial shape. Here’s what you need to know: What is a multiemployer plan? This is a pension covering workers and retirees from more than one employer in the same or related industries, such as trucking or construction. (Most of them were established under collective bargaining between …

What’s Mom Worth? Between $62,985 and $118,905

It’s difficult to put a price tag on moms (or so we’d like to think). Nevertheless, as Mother’s Day approaches this Sunday, two websites calculated a mom’s worth based on her various jobs around the house. Think top chef, chief accountant, chauffeur and teacher. Using Bureau of Labor Statistics wage data that correlates with those jobs outside the home, Insure.com said moms are worth $62,985 in 2014. That’s higher than their value last year, which was $59,862. >> Sign up for …

Low-Wage Jobs Replacing Middle-Income Jobs, Report Finds

First the good news: Millions of jobs that were lost during the Great Recession seem to be finally coming back. Now the bad news: Most of those newly created  jobs are low-paying ones in fast-food restaurants, retail stores and temporary administrative services -  industries that are less affected by an economic downturn, according to a new report by the National Employment Law Project, a research and advocacy organization. Today lower-wage industries employ 1.85 million more workers than at the start of the …

Free Advice for Job Seekers

A big job placement firm is offering job seekers, and workers who want to transition into another position, free call-in advice in December. >> Sign up for the AARP Health Newsletter John Challenger, CEO at Challenger, Gray & Christmas, says job counselors will offer strategies to help people become more effective in their search. It’s happening on Dec. 26 and 27, from 9 a.m. to 5 p.m. Central time (phone number 312-422-5010). More information about the annual call-in is available at …

Equal Pay for Women? Sure. After You Retire.

Most of us now working will be long retired before equal pay for men and women is a common practice. In 2058 – yep, 45 years from now – the gap in paychecks is expected to cease between men and women employed in the same occupations. That’s according to projections from the Institute for Women’s Policy Research, a think tank in Washington. If you’re feeling a little impatient, ladies, here’s why. For the last five years or so, when you …

Home Health Workers to Get Minimum Wage, Overtime Pay

By Susan Jaffe, Kaiser Health News The U. S. Department of Labor issued new rules Tuesday that mandate home health care agencies pay their workers the minimum wage and receive overtime pay starting in 2015. “Almost 2 million home care workers are doing critical work, providing services to people with disabilities and senior citizens who want to live in community settings and age in place in their familiar surroundings,” said Secretary of Labor Thomas Perez. But when it comes to …