retirement

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401(k) Decay Spurs Calls for Change
401(k) Decay Spurs Calls
for Change
Jan 8, 2009 10:17 AM CST

401(k) Decay Spurs Calls for Change

Critics question if plans are robust enough to survive tough times

(Newser) - Americans depending on 401(k) plans for their retirement have taken a hammering as the stock market plunged during the past year, prompting critics to question the shortcomings of the system, reports the Wall Street Journal. Some 50 million American have 401(k)s, and Congress is weighing a revamp. "It's so...

Maddux Will Hang 'Em Up: 'I'm Getting Too Old'

(Newser) - Four-time Cy Young winner Greg Maddux confirmed today that his 355th win was his last, the Las Vegas Sun reports. “I’m 42, and I have two kids and a wife,” said the eight-time all-star, who finished his 23-year career with a stint on the Los Angeles Dodgers....

Don't Take the 'Gold' Out of Americans' Golden Years

And why is retirement reform taboo?

(Newser) - Snow White’s dwarf pals are so happy to go to work that they sing about it, “and they’re 71 years old,” writes Irwin Stelzer of the Weekly Standard. “So why do so many of us less vertically disadvantaged worry about” extending the retirement age? Average...

Empty Nesters Fly High
 Empty Nesters 
 Fly High 
Dec 4, 2008 2:01 PM CST

Empty Nesters Fly High

(Newser) - With their children grown and gone, couples find their love lives more satisfying, new research reveals. Some of the 123 women in a long-term study switched partners and some remarried, but regardless, they were happier in their relationships after the child-rearing was complete. Marriages generally improve with time, and the...

Retirement Communities Seek Younger Residents

Housing bust leads to 'age desegregaton'

(Newser) - A rash of vacancies caused by the ugly housing market has prompted many retirement communities to consider lowering, or even eliminating, age restrictions, the Wall Street Journal reports. Many of the communities enjoy lower taxes, and child- and teen-free living appeals to some seniors. But what's being call "age...

401(k) Matches Fall Victim to Downturn

Cost-cutting efforts increasingly extend to pricey employee benefit

(Newser) - Shrinking 401(k) accounts may soon seem like a bit of a luxury as more and more companies eliminate matching contributions to the retirement accounts, reports BusinessWeek. Some 2% of firms in a recent survey said they had already cut out the match, and another 4% said they’ll drop it...

Hawking To Retire From Cambridge Post

(Newser) - Stephen Hawking will retire from his chair at Cambridge University at the end of this academic year, the Telegraph reports. But the esteemed physicist will continue working at the college in an emeritus position. Cambridge requires profs to step down when they reach 67, and Hawking’s birthday is in...

Lance: I'll Only Ride in 'Serene' Tour

(Newser) - Lance Armstrong will race in the three-week Giro d’Italia for the first time next year, but a return visit to the Tour de France is in doubt, the Telegraph reports. Armstrong, recently out of retirement, has historically clashed with Tour management, and his team was banned from this year’...

Sinking 401(k)s Raise Debate on How to Save

Accounts tumble by up to 11%, but backers still love them

(Newser) - Tumbling stock markets have cracked open the piggy bank that many Americans use to store retirement savings—401(k) accounts—sparking fresh debate about how best to save money, the Washington Post reports. Supporters argue that 401(k)s offer bigger rewards than traditional pensions, which are less exposed to market turbulence. But...

Tarzan's Old Pal Enjoys His Retirement

At 76, Tarzan co-star keeping busy with painting, TV

(Newser) - Cheeta the chimp is enjoying a fairly humdrum retirement after his glittering showbiz career, Entertainment Weekly reports. Cheeta, at 76 the world's oldest domesticated simian, was plucked from the jungles of Africa as a baby and starred in the '30s Tarzan movies. An "autobiography"—more of a Hollywood...

Ford CFO Says He'll Step Down
Ford CFO
Says He'll
Step Down
Oct 10, 2008 12:41 PM CDT

Ford CFO Says He'll Step Down

Longtime exec retires after grabbing timely loan ahead of crisis

(Newser) - Ford CFO Don Leclair will retire at the end of the month after 32 years with the company, the struggling automaker said today. Leclair has drawn praise for snagging $25 billion in loans for the company before the credit markets dried up, a move that may ensure Ford’s survival...

As Stocks Sink, New Cash Cows Emerge

Alpacas, coins, comic books; a stampede to alternative investments

(Newser) - With stocks tanking, 401(k)s plummeting, and the market’s usual safe haven—real estate—at the heart of the current crisis, investors are seeking refuge in unusual investments—everything from parking spaces to comic books to alpacas, the Wall Street Journal reports. A growing number of retirees are taking individual...

Retirees Hit Hard by Markets
 Retirees Hit Hard by Markets 
Sep 23, 2008 10:43 AM CDT

Retirees Hit Hard by Markets

Their money is in riskier investments these days

(Newser) - Among those hardest hit by the financial crisis are retirees, and they have less chance to recover than their younger counterparts, the New York Times reports. As companies have abandoned fixed pensions for 410(k)s, retirees can lose large percentages of their wealth in a short period. And low-risk investments, like...

Forget Retirement&mdash;Old Architects Make Masterpieces
Forget Retirement—Old Architects Make Masterpieces
COMMENTARY
Sep 14, 2008 4:40 PM CDT

Forget Retirement—Old Architects Make Masterpieces

(Newser) - Thinking of early retirement? Not if you're an architect, writes Witold Rybczynski in Slate. Few architects achieve greatness before middle age and many do after, such as Frank Gehry, Louis Kahn, and Le Corbusier, who all designed masterpieces in their sixties. "I want to spend whatever time I have...

It's Health, Not Age, That Matters
 It's Health, Not
 Age, That Matters
Analysis
Aug 26, 2008 10:36 AM CDT

It's Health, Not Age, That Matters

McCain probably has enough juice left in tank

(Newser) - At 72, John McCain would be the oldest person elected president, but should that matter to voters? Probably not, according to geriatrics experts consulted by the Wall Street Journal. “Aging has such a small impact on how we function that it is of minimal importance,” says one specialist....

Retirement Plan Hurting US Military: Study

'Inequitable, inefficient' system handcuffs brass, needs overhaul

(Newser) - The retirement plan for the US military is "inequitable, inflexible, [and] inefficient," says a study released today by the Pentagon. It recommends the current system be swapped for a combination of cash and deferred compensation that kicks in with as few as 10 years of service, the Military...

Favre Huddles With Packers Coach
Favre
Huddles With
Packers Coach
Aug 5, 2008 2:52 AM CDT

Favre Huddles With Packers Coach

Meeting with McCarthy lasts 5 hours—QB's fate still uncertain

(Newser) - Packers coach Mike McCarthy talked with once (and future?) quarterback Brett Favre last night in a meeting that stretched five hours. The marathon chat pre-empted scheduled sessions with other players and the media, but close to midnight Favre's future with Green Bay was still unclear, reports the Milwaukee Journal-Sentinel.

Favre Deserves Better Than Bribery
 Favre Deserves
 Better Than Bribery
OPINION
Aug 3, 2008 6:02 AM CDT

Favre Deserves Better Than Bribery

$20M 'payoff' would hurt legacy more than a weak season

(Newser) - As football fans eagerly await a decision about Brett Favre’s future in football, critics are lambasting the Green Bay Packers' reaction to the quarterback's plans to return. The measures the team is taking to obstruct Favre’s comeback are tarnishing the NFL’s good name, writes William Rhoden in...

Green Bay Split on Favre Question
Green Bay
Split on
Favre Question
Aug 1, 2008 6:08 AM CDT

Green Bay Split on Favre Question

Loyal fans divided on whether to support their team or their old QB

(Newser) - In Green Bay, sides are being chosen, rival camps established. While some fans circulate petitions calling for the team to re-embrace the newly un-retired Brett Favre, 38, as starting quarterback, others wish he would step aside. The only consensus in town seems to be that people are tired of the...

Packers Offer Favre $20M to Stay Home

(Newser) - The Packers are desperate to keep Brett Favre retired and they’re willing to pay handsomely for the privilege, ESPN reports. Packers president Mark Murphy met with the quarterback yesterday and reportedly offered him roughly $20 million over several years to stay retired. Murphy would say only that he’d...

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