You’ve Got Skills You Can Use in Retirement

Some people aspire to retire at 60, 62 or 66, reducing the amount of their Social Security payment by 20 percent. Others are in it for the long haul, planning to work to 70 and beyond. Indeed, 1 in 5 older adults plan to work after 66. Where will they work? Some companies have mandatory retirement at 70 — or earlier. Others may make exceptions for highly skilled employees. As you consider retirement, review ways you can be of added value …

Job Gains for the 55-Plus: Not Too Shabby

Employers capped a year of solid hiring by adding 252,000 jobs to the economy in December — and older workers welcomed those gains. The national unemployment rate for people 55-plus dipped by 0.6 percent to 3.9 percent last month, a bigger monthly decline than the rate for workers overall, according to the Bureau of Labor Statistics. Better still, workers 55 and older saw their jobless rate fall over the past year from 5.1 percent in December 2013. Older women seemed …

Illinois Is First State With New Savings Plan for Workers

Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program. Gov. Pat Quinn signed legislation on Sunday that creates the Illinois Secure Choice Savings Program. Employers with at least 25 workers and no retirement plan will be required to offer employees the option of enrolling in Secure Choice, which allows employees to invest in a Roth IRA through payroll deduction. Employees can decline. “This turnkey program will make it …

Small-Business Owners Agree: Secure Choice Is Right for Illinois

BREAKING UPDATE 12/2/14: The Illinois House of Representatives passed the Illinois Secure Choice Savings Program.   I want to bring your attention to something happening right now in Illinois that could give small businesses a competitive edge and help millions of Illinois workers have a secure financial future — but time is running out. Only three days remain for the state House of Representatives to pass the Illinois Secure Choice Savings Program and give over 2 million Illinoisans a pathway to …

Creating Effective State-Sponsored Retirement Plans

By Gary Koenig, Vice President, Financial Security, and David John, Senior Policy Adviser, Financial Security State-sponsored retirement savings plans can help private-sector workers not covered by employer plans build financial security. How many workers? More than you might think. In 2013, about 55 million private-sector employees did not have access to a retirement plan at work, including more than 7 million in California, 2 million in Illinois, and about 1 million each in Indiana and Maryland. Research shows that middle …