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State retirement plans

Big pensions add to city's retirement fund woes

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The median private-pension benefit of individuals age 65 and older was $9,227 a year in 2014, according to the Pension Rights Center, a nonprofit advocacy group based in Washington. That same year, the median state- and local-government pension benefit was $14,158.

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Spouses should have a say in whether survivor benefits will be provided

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A recent New York Post article drew attention to a widow facing a tragic situation. Her husband, a retired police officer, had taken his own life. Without going into the grisly details of the case, her husband wanted to cause his wife as much pain as possible.

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13 On Your Side Consumer Alert: Pension Advances

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Michigan Attorney General Bill Schuette is warning consumers about a relatively new practice called pension advances.

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How to Monitor Your Pension's Health

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You paid into a pension system. It will pay out for you ... right? Maybe. As illustrated by Detroit's municipal bankruptcy and the threatened implosion of its pension plans, not to mention routine corporate bankruptcies, pensions can't be taken for granted.

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Spouses deserve an equal voice in retirement decisions

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Preparing for retirement is a bit like competing in a marathon. It’s long and hard, and it requires a steady pace. It also requires information about the course ahead.

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Oregon takes a step toward retirement security for all

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Oregon recently took a step forward in the movement to expand retirement savings for its workers. Oregon’s state legislature passed House Bill 3436, which creates a task force to explore options for helping private-sector workers who lack access to a workplace retirement plan save for retirement.

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Detroit Pensions Battle

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PRC's Karen Friedman discusses the impact of Detroit's bankruptcy filing on retirees' pensions and the safety of pensions in general. Segment starts 8:00 minutes into the program.

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Detroit's workers and retirees face big cuts

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While the details of Detroit's historic bankruptcy filing Thursday continue to unfold, one thing is clear: Tens of thousands of current and retired city workers face the risk of significantly smaller pension checks.

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State Retirement System Rules on “Spousal Consent”

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Does your husband or wife work in a job covered by a state retirement system? If so, it is important for you to know if you have a say in whether you will receive a pension if you outlive your spouse.

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