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Poverty

Unemployed today, no retirement savings tomorrow

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Last week, I accompanied Karen Friedman to Witness Wednesday, where she spoke about the fact that too many people who have lost their jobs and whose unemployment benefits have expired have had to dip into their 401(k) savings to pay for basic needs.

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Rethinking savings plans as struggling Americans raid 401(k)s

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For too many of Vada Lindsey's lower-income clients, their hard-earned 401(k) accounts become go-to emergency funds when they are faced with unexpected cash needs.

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Why you may retire in poverty

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Are you going to retire in poverty? Today's seniors are more affluent than the general population. But the generations that follow them - starting with the baby boom generation - will not be as fortunate. The decline of pensions, the erosion of Social Security and the housing crash all are pointing toward a new crisis of poverty among lower- and middle-class seniors in the years ahead.

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Harkin's retirement plan proposal is a hit

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Sen. Tom Harkin's proposal for a universal private retirement system with professional money management was praised by several pension experts as a first step in addressing ways to improve retirement security.

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Nearly half of Americans die with 'virtually no financial assets'

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How much do senior citizens rely on Social Security? Even more than you might think. A new study finds that more than 46 percent of Americans die with less than $10,000 in financial assets, with many spending the end of their life strongly dependent on the government.

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Pension plans keep more retirees out of poverty, reduce reliance on public assistance

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Study: Defined-benefit pensions not only aid seniors but also provide a public service

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Women Seen Living Retirement in Poverty at Higher Rates Than Men

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Women age 65 and older live in poverty at higher rates than men even as more of them participate in employer-sponsored retirement plans, according to a U.S. Government Accountability Office study.

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America’s Looming Pension Shock

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At a recent Governing Leadership Forum in Lansing, Michigan Budget Director John Nixon told a packed room about Gov. Rick Snyder's plans to overhaul his state's public-pension system. Michigan's governor is, of course, far from alone in trying to deal with the public sector's pension crisis.

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New Ideas on Pensions: Use States

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As growing numbers of baby boomers face retirement with inadequate savings, some state officials are considering a novel proposal to rebuild America’s ailing retirement system — having state pension funds run retirement plans for companies.

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Don’t Cut Pensions, Expand Them

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On Thursday morning the New York State Legislature agreed to a deal limiting pensions for future public employees. The state thus joins 43 others that have recently enacted legislation curtailing public retirement benefits.

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