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Just like most legislators, former presidents receive a lifetime pension for their service. How much is that pension and what other perks do former presidents enjoy? Read on to find out! Pensions for former presidents were established by the Former…
Donald Trump has been president for a few weeks now. During the campaign, we speculated on what his presidency might mean for your retirement. Now that he is actually in office, we are beginning to see the signs of his…
Maryland Governor Larry Hogan recently proposed creating a 401(k)-style defined contribution plan for state employees. Future state employees would have the option of participating in this plan instead of the traditional defined benefit pension plan. Current state employees would not…
President Donald Trump has nominated Andrew Puzder to be Secretary of Labor. Puzder is the CEO of CKE Restaurants, which is the parent company of Hardee’s and Carl’s Jr. Puzder’s confirmation hearing in the Senate has been delayed four times…
Today is Groundhog Day. Everyone’s favorite groundhog- Punxsutawney Phil- will stick his head out of the ground and look for his shadow. Legend has it that if Phil sees his shadow, we’ll have six more weeks of winter. Many of…
It’s still early in 2017 and the fight to protect pensions is just beginning. John Arnold is on the attack against pensions in Nebraska, South Carolina, and Texas. Anti-pension legislators in Michigan are threatening to reintroduce legislation that would gut…
It’s well-known that public pension funds took a major hit during the financial crisis. We’ve written before about the steep drop in funding levels from 2008 – 2009 when the economy was crashing due to Wall Street greed and incompetence.…
Governor Sam Brownback of Kansas is at it again. If you’ve followed our blog over the last couple of years, as well as the news, you know that Kansas is in fiscal disarray. In 2011, when he first took office,…
It’s still early in 2017 and state legislative sessions haven’t even begun in every state yet. John Arnold, however, is already on the attack. Arnold, the anti-pension billionaire and former trader at the disgraced Enron, who has spent over $50…
President-elect Donald Trump has nominated Michigan billionaire Betsy DeVos to be the Secretary of Education in his upcoming administration. If that name sounds familiar, it should. The DeVos family is a major advocate for gutting public pensions in Michigan. Should…
A recent report from the Center for Retirement Research at Boston College looked at state and local pension plans and whether there had been changes to those plans since the financial crisis. The report’s authors found that three-fourths of state…
In an article published by the Wall Street Journal this week, the creators of the 401(k) reflected on the consequences of the product they promoted. The takeaway: many of the early advocates of 401(k)s now regret the “revolution” they helped…