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New Incentives to Retire Early - Government will offset Employers Paying Continued Health Care Costs

The Obama Administration reports today that they will subsidize employers who are providing medical benefits to "early retirees". The issue is that Medicare kicks in at age 65. Given the costs of private health insurance, older, and sometimes most highly compensated, employees are delaying...

How Financial Decisions Can Adversely Impact Not Only Your Income Taxes but Medicare Premiums & Social Security Tax

Retired taxpayers may be surprised to learn that financial decisions can adversely impact not only their income taxes, but their Medicare premiums and social security tax. A significant financial income increase, resulting from the sale of investment assets (stocks, bonds, real estate, etc.), portfolio...

Credit Card debt Crippling Retirement?

Oftentimes the oldest generation of Americans are seen as the most frugal - they experienced the Great Depression, they abhor debt, they saved their pennies, and while they may now be living off of social security, at least they don't owe anyone money. A New York Time blog post in The New Old Age...

The Great Recession Hurts Those Soon to Retire, Even if They Don’t Lose Their Jobs.

A recent report from the Urban Institute suggests that the effects of the recession will be felt for several decades, especially by those who are now ages 60-65. Even for those fortunate enough to remain employed, individuals nearing retirement will find that their Social Security benefits, pensions...

State Net Capitol Journal: Courts Reject Ambitious Pension Reforms

A pair of district courts have ruled that recent public pension reforms in Arizona and New Hampshire boosting the share current workers must contribute toward their retirement are unconstitutional. The courts ruled that both states broke their contracts with public employees because the contracts guarantee...

Sarasota Florida Ranked as Best Place to Retire

Sarasota Florida came out on top of a list of best places to retire that was produced by a national website, with Venice Florida not too far behind. The list by TopRetirements.com was cited in a recent national report by MarketWatch, part of Dow Jones & Co. In Sarasota's favor at the No. 1...

Surprise: Study Shows Oldest Baby Boomers ARE Retiring

Surprise: Contrary to conventional wisdom, a new study seems to show that the first wave of Baby Boomers, born in 1946, isn't shunning retirement. They're retiring, despite expert predictions that they would not. According to the 2011 MetLife Study of Baby Boomers at 65 , nearly half are now...

Williams Mullen: Retirement Plans’ Fiduciaries Are Found Liable to Plans for $36.9 Million: Tussey v. ABB, Inc.

BY: MARK S. THOMAS & ROBERT W. SHAW In Tussey v. ABB, Inc. , No. 2:06-cv-04305 (Western District of Missouri, March 31, 2012) [ enhanced version available to lexis.com subscribers ], a class action case brought by present and former employees of ABB, Inc., the U. S. District Court for the Western...

State Net Capitol Journal: Helping Workers Help Themselves

When Dr. Dena Davidson graduated from the University of California, Berkeley School of Optometry in 1995, her expectations were pretty reasonable. "I knew being an optometrist was not going to make me rich," she says. "But I felt I would be fairly comfortable." To her, that meant...

Dont Count on an Inheritance as Half of Americans Die Broke

If you want the best retirement outcome possible, get rich. If that fails, consider getting married, staying married-and doing your best to die before your spouse does. That last is not entirely serious, but the general take-away is that being married pays off in retirement. For example, remember...

State Net Capitol Journal: Snyder Says MI Will Appeal Retiree Health Ruling

Michigan Gov. Rick Snyder (R) said his administration intends to appeal a Michigan Court of Appeals ruling [ AFT Mich. v. State , 2012 Mich. App. LEXIS 1632 (Mich. Ct. App. Aug. 16, 2012) [ enhanced version available to lexis.com subscribers ]] that declared unconstitutional a 2010 law requiring school...