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Big Biz Seeking to Cut Pension Funding
Low interest rates are forcing major employers to put too much money into their pension funds, according to business groups urging Congress to allow contributions to be cut. A measure attached to the...
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Paterno Pension: $13.4M
Joe Paterno's 61 years at Penn State brought him a state pension of $13.4 million. His wife will get an initial payment of $10.1 million this month, and the family will donate $1.5 million to Penn...
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California Voters Slash Public Pensions
It's been a rough week for public workers. Following Scott Walker's survival as Wisconsin governor, two major California cities have easily approved cuts to city employees' pensions. Some 66% of San...
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State Paying Sandusky's $5K-a-Month Pension
Jerry Sandusky may wind up spending the rest of his life in prison, but apparently that's no reason to deny him his hard-earned pension. Sandusky will continue receiving his $4,908-a-month state...
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Sandusky: I Want My Pension
Jerry Sandusky worked hard for his pension, and he doesn't think he should lose it over a few dozen pesky rape convictions. The former Penn State coach has appealed a decision to revoke his...
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Hostess Diverted Pension Money to Run Business
For months, Hostess diverted funds intended for employee pensions and used that money to help run the sagging business, the Wall Street Journal reports. It's not clear how much workers lost, and...
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Bin Laden Shooter Only Has Himself to Blame: Admiral
The SEAL who killed Osama bin Laden may be missing out on a pension, healthcare for his family, and other benefits, but that's on him, according to the commander of Naval Special Warfare Command. Rear...
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Benedict's Pension: $3.3K/Month
Thinking about "pope" as your career goal? Consider the retirement package, which is apparently around $3,340 per month. That's how much Pope Benedict will get when he abdicates later this month, and...
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NJ Sent $24M in Benefits— to Prisoners
New Jersey sent nearly $24 million in taxpayer money to prisoners in the form of unemployment, welfare, pension, and other benefits, reports the New York Times . An audit released yesterday uncovered...
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Welcome to 'Unsteady States of America'
The Economist has a cheery new nickname for the US: "the Unsteady States of America." In an editorial that accompanies a cover story on Detroit's bankruptcy , the editors argue that other cities and...
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We've Got a Choice: Schools or Nursing Homes?
If anyone tries to tell you that Detroit's bankruptcy is an isolated incident, "don't be fooled," writes Robert Samuelson at the Washington Post . The truth is that for governments across the country,...
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Detroit Went Way Overboard Paying Pensions: Report
In its path to declaring bankruptcy , Detroit didn't help itself on the pension front: The city, it seems, was overly generous with its pension payments to the tune of billions of dollars. The city...
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Why Is Prince Charles Actually Collecting His Pension?
Prince Charles may be preparing to begin the job he's trained his whole life for while many his age are preparing for retirement. But today is his 65th birthday, and he's partaking in a tradition held...
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Boehner Calls No-Strings Vote on Debt Ceiling
With the clock ticking, House Republicans ditched their last attempt to tie a policy rider to the debt ceiling today. John Boehner told fellow Republicans that he would instead bring a "clean" bill to...
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Bob McDonnell May Lose Pension Under Law He Signed
New felon Bob McDonnell might have a much lighter wallet thanks to a bill that he signed into law in his former life as a governor. As CBS 6 explains, the 2011 Virginia law prohibits state employees...
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Hastert Fights for $17K-a-Year Teacher's Pension
Dennis Hastert is serving a 15-month prison term in a hush-money case that stemmed from his sexual abuse of students when he taught at an Illinois public school over 35 years ago—and the ex-US House...
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Early Cheerleaders of 401(k) Plans Are Now Changing Tune
When 401(k) plans emerged in the '80s, they were supposed to complement pensions, not replace them. But as the Wall Street Journal reports, only 13% of workers in the private sector today hold pensions...
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Obama's Pension Now Under Congressional Microscope
Jason Chaffetz had a concise response to a Wednesday USA Today headline, which read "Obama's $400,000 speech could prompt Congress to go after his pension": "Yes, it will." That speech, one Obama will...
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He Didn't Enter School During Shooting, Gets Huge Pension
The school resource officer widely criticized for his response to the Feb. 14 Parkland shooting is now the target of abuse over his six-figure pension. Scot Peterson, 55, who retired a week after 17...
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Cop Shocks Wife With New Will After Killing Himself
On the one hand, there's his wife. On the other, his blonde, Russian-born, NYPD lieutenant girlfriend. Who will receive the $810,000 pension benefits of Brooklyn cop Mike Smith after he shot himself in...
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