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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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New law gives US companies a break on pensions

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A new law will let companies contribute billions of dollars less to their workers' pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.

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Pension legislation winner: Uncle Sam

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As executives at corporate defined benefit plans figure out whether they gained more than they lost in pension legislation approved by Congress June 29, one clear winner emerges: Uncle Sam.

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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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Is Congress setting itself up for a pension crisis?

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Who wants to hear about pensions? No one. But that’s sort of the point! Yesterday, I noted that the Senate’s two-year highway bill used a few gimmicks to paper over shortfalls in gas-tax revenue. And one of those was a little-noticed tweak in pension rules that could end up being quite important.

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Don’t Let Companies Slash Pension Payments

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There is something about pensions that makes their sponsors just want to say no. For months we have been reading about cities and states failing to pay what is due into employee pension funds. Now corporate America is getting into the act.

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After the Storm, the Little Nest Eggs That Couldn’t

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In many ways, things are looking up for America’s economy. After several years of roller-coaster-ish volatility, the Dow Jones industrial average has climbed to its highest level since the 2008 financial crisis. Economic growth, though not robust, has been gathering steam, and the unemployment rate has been inching downward, although fitfully.

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The problem with Mitt Romney's IRA

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In the last few weeks Mitt Romney’s Individual Retirement Account has come under intense scrutiny because of the amount of money he has stashed away in it.The Wall Street Journal estimates the value of Romney’s IRA to be somewhere between a whopping $20 million and a staggering $101.6 million.

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Is a 401(k) match really “free money”?

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This week’s issue of Time features an article by Stephen Gandel called “How 401(k)s Make Many Americans Poorer.” It sheds light on a new study conducted by the Urban Institute and published by the Center for Retirement Research. The study finds that employees at companies that provide an employer match to 401(k) contributions tend to have lower salaries than employees at companies that do not contribute to employee retirement plans.

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Required Reading: How 401(k)s Make Many Americans Poorer

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One of the most widely dispensed, and universally accepted, pieces of financial advice is that you should contribute at least enough to your 401(k) to get the full match from your company. If you don’t, so the wisdom goes, you will be giving up free money. Well, it turns out that money isn’t exactly “free.” In a sense, it’s actually coming right out of your paycheck.

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