Pensions
Worldwide Pension Funds Rebounded in 2023, but Failed to Make Up for 2022’s Wipeout
An OECD study concluded that last year’s progress did not bring funds back to year-end 2021 levels.
Tag: Social Security
Pensions
Longer Life Expectancy Puts Pressure on Global Pension Systems
The sustainability of public pension plans comes into question, as average life expectancy is projected to rise to 77.3 years by 2050, data from Allianz shows.
Regulation
Biden’s Proposed Spending Priorities Include Social Security, DOL, IRS
Proposed budget advocates for higher fines and more aggressive enforcement by DOL in equal opportunity cases.
Regulation
New Bill Would Tax Individual Investors to Extend Social Security Solvency
Bill from Senators Sanders and Warren aims to make Social Security solvent for 75 years and to increase benefits, especially for lower-income workers and retirees.
Newsmakers
Biden Backs Debt Ceiling Increase, Proposes Higher Tax on Buybacks
President pledges to protect Social Security and Medicare and asks Congress to 'finish the job' on many of his priorities.
Pensions
US Workers Could See a Reduction in Promised Social Security Benefits by 2034
CBO forecasts 23% Social Security shortfall if no tax increases, benefit cuts or some combination are made before then.
How Badly Do Rising Prices and Slowing Economic Growth Harm Stocks?
It’s not pretty: History shows that this bad combo pares equities’ median returns by 2%, Goldman says.
News
Moody’s Totes Up the US Budget Standoff’s Economic Threat
Beware of a recession, chaotic global markets, and a weakened US going forward, if the federal spending cap isn’t raised, economist Zandi admonishes.
Asset Allocation
Public Pension’s Share of Government Spending More Than Doubles in 16 Years
Percentage of state and local spending on pensions jumps to 5.2% from 2.3% between 2002 and 2018.
Market Moves
CalPERS Loses around 4% in Last Week’s Stock Dive
Largest US pension plan drops at least $15 billion as retirement programs worldwide suffer.
Market Moves
Greenspan Says Expanding Entitlements Will Squelch Economic Growth
Former Federal Reserve chief warns that huge obligations will crowd out needed capital spending.
Regulation
China to Use State Assets to Close Pension Fund Gap
Plan is part of government effort to compensate for aging population.
Newsmakers
Philippines Social Security Net Revenues Plunge
Sharp drop due to 43% rise in Q1 disbursements, and additional benefit for retirees.