Welcome to the latest edition of This Week in Pensions! As we do each week, we have gathered the best stories about pensions and retirement security from the week’s news. This is the news you need to know in the fight for a secure retirement.
Here are this week’s top stories:
- For Many Women, Adequate Pensions Are Still a Far Reach by Elizabeth Olson: great article from the New York Times on the challenges facing women in retirement. Women who work in fields like education and public administration are less likely to face poverty in retirement because they are more likely to have a defined benefit pension.
- Retirement blues: The great gap in Americans’ post-work lives by Pittsburgh Post-Gazette editorial board: a new report from the Pew Charitable Trusts finds that over 40 percent of American workers lack access to a retirement savings plan at work. The editorial board warns that political leaders must find a way to deal with the looming retirement security crisis that has arisen from the decline in traditional pensions in the private sector.
- Dayton backs body-camera bill sought by law enforcement agencies by Patrick Condon: Minnesota Gov. Mark Dayton vetoed a bill this week that would have cut benefits for current retirees. “It is not fair, and I cannot agree to it,” Dayton said in vetoing the bill.
- Sanders to offer Puerto Rico debt bill that would protect pensioners by Richard Cowan and Nick Brown: Vermont Senator Bernie Sanders plans to introduce legislation next week that would protect Puerto Rico’s pensions in any debt restructuring negotiations. Sanders’ bill would create a “Reconstruction Finance Corporation of Puerto Rico” that would prevent cuts to pensions and concentrate losses on the vulture hedge funds that bought Puerto Rico’s debt for pennies on the dollar.
Be sure to check back next week for the latest news about pensions and retirement security!