Public retirement system revenues depend more on earnings on investments to drive revenues, according to an annual study by the National Conference on Public Employee Retirement Systems. The 2020 NCPERS Public Retirement Systems Study, conducted with Cobalt Community Research, covered the most recently concluded fiscal year. Of the 138 state and local pension systems responding, [...]
Last week, NCPERS hosted our semi-annual webcast on state and federal legislation impacting public pensions. Our regular contributors, Bridget Early, executive director of the National Public Pension Coalition (NPPC) and Anthony Roda, partner at the lobbying firm Williams & Jensen, joined executive director Hank Kim for a review of 2020 public pension legislation and a discussion [...]
In a mythical American past, families took out one 30-year mortgage, worked at one company for 30 years while paying off the mortgage and sailed off into retirement free of debt. Today, the reality is that the dream of retiring debt free is fading, and debt among older Americans is soaring. The percentage of households [...]
Millions of seniors rely heavily on Social Security to make ends meet. If you're planning to do the same, you should know the ins and outs of how the program works. If you don't, you may get caught off guard by some of Social Security's rules and nuances, like these. 1. Taxes on benefits You'd think Social [...]
Retirees approach their golden years in countless ways—some may prefer a rural and quiet small town, a spot near the water, or a retirement community in a warm place. Others may crave a big city, where there are plenty of exciting activities seniors can take part in whenever their heart desires. Aside from things to [...]
There are plenty of good reasons to hold down a job in retirement. Not only can working provide extra income and thereby compensate for a lower retirement plan balance, but it can also serve as entertainment. Many people find it difficult to go from a full-time work schedule to having no place to be all [...]
This past year has been a doozy, and the humble emergency fund is enjoying a moment in the spotlight. As the coronavirus pandemic rages on, it's never been more critical to have a solid stash of savings. But even if your job is secure and you don't foresee any major expenses, it's still wise to [...]
Most people spend the majority of their working years planning for their retirement. You diligently save and invest, hoping that your nest egg will grow. When you retire, worrying about running out of money shouldn't be a concern. This is why it's extremely important that you plan for longevity in your retirement planning process by [...]
The fear strikes when retirement becomes a realistic option: Will I run out of money? The question is pressing since corporate America abandoned pensions for 401(k)s. The 401(k) puts the risk on employees, including how much to invest and how much to withdraw during retirement. Figuring out how to invest in a retirement savings plan [...]
If you designate beneficiaries for your retirement accounts, that’s usually a surefire way to pass those assets directly to your desired heirs without going through probate—but not always. Because those beneficiary designations are so important, you should verify your choices every year in case there’s a change due to, say, marriage, birth, divorce or death. Especially marriage [...]