Showing posts with label retirement benefits. Show all posts
Showing posts with label retirement benefits. Show all posts
Tuesday, March 18, 2025
Friday, January 19, 2024
Trump ad says Nikki Haley’s plan would cut Social Security for 82% of Americans. That’s False - PolitiFact
The Trump ad is an extreme exaggeration of how many Americans would be affected by Haley's plans for Social Security. It would not affect retirees or people nearing retirement…
Thursday, March 2, 2023
Opinion | Before Slashing Social Security, Cut 401(k)s - POLITICO
Perhaps, you might suppose, these programs are ignored because they exist in the private sector — but they are actually heavily subsidized by the government. According to the Joint Committee on Taxation, the tax advantages for DBs, DCs and IRAs will cost the federal government $371 billion this year. There is no similar tally for state tax breaks, but including those would likely bring the total bill close to half a trillion dollars.
Given these tremendous expenses, it is initially hard to understand why people who seem so worried about the costs of old-age benefits choose to focus solely on Social Security. But it becomes easier to understand once you realize who benefits the most from the various parts of the old-age system...
Friday, February 3, 2023
US pension funds are on the brink of implosion – and Wall Street is ignoring it
…private equity firms may have told their pension officials that their assets were worth much more than they actually are, all while the firms were skimming billions of dollars of fees off retirees' money.
If write-downs now happen, it could mean that when it's time to sell the assets to pay promised retiree benefits, pension funds would have far less money available than private equity firms led them to believe. At that point, there are three painful choices: cut retirement benefits, slash social programs to fund the benefits, or raise taxes to recoup the losses…
Friday, April 1, 2022
Romney suggests cutting retirement benefits for younger Americans | Mitt Romney | The Guardian
…Conservatives have consistently tried to chip away at the programs. Most recently, House Republicans proposed raising the eligibility age for Medicare from 65 to 69 and social security from 67 to 69.
But in his Build Back Better plan, Joe Biden sought to protect and even extend the programs, adding hearing coverage to Medicare. The bill passed the House but was stalled in the US Senate…
Wednesday, February 3, 2021
Bipartisan group of lawmakers proposes bill to lift rule putting major financial burden on USPS | TheHill
...The USPS Fairness Act would do away with a 2006 law that mandated the USPS to form a $72 billion fund to pay for retirement health benefits for over 50 years, a requirement that is not imposed on any other federal agency...
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