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Will Retirees Get A Big Income Jump From 2025 Social Security COLA?
retirement age. They also could benefit from the 2025 Social Security COLA.ABC via Getty Images
While the inflation rate has been easing downward, retirees' budgets are still being stretched pretty thin. Over the past few years, above-average inflation has meant significant Social Security cost-of-living adjustments. Will this trend continue?…
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How to succeed at the ‘no-spend’ challenge
Define your goalsThe rising cost of living has placed huge pressure on household finances, so taking a no-spend challenge can help you to get a grip on your outgoings. You still pay for essentials, such as your mortgage and utility bills – the focus is on cutting out any extra spending on unnecessary items, whether it’s takeaway coffees, clothes…
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High interest rates are good news for Americans eyeing retirement
A quick read of the tea leaves suggests that interest rates will stay higher for longer in 2024.Those nearing retirement need to factor that into their investment decisions and even the bigger picture: Does "higher for longer" make this a good time to retire — or is it a reason to delay?The Fed next meets on March 19-20, but few economists…
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Social Security Is Running Out of Money, but Here’s an Even More Urgent Concern for
You work your entire career and finally retire. At long last, it's time to enjoy your golden years. Life should be smooth sailing, right? That's the ideal plan. However, the reality is that things can and usually do get in the way.Unfortunately, two huge issues are steamrolling toward a collision with America's senior citizens. Social Security…
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‘You are not a good credit risk’: San Diego’s pension board rejects the city’s bid to slash
SAN DIEGO — San Diego’s pension board voted Friday to reject a proposed $352 million reduction in the city’s pension payments over the next four years, calling the proposal a threat to the city’s long-term financial stability. In a 10-3 vote, the pension board opted instead for a more conservative proposal that reduces the city’s payments…
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San Diego makes its case for a $352 million near-term pension reprieve — with a steep
SAN DIEGO — San Diego officials will make their case Friday for a $352 million reduction in pension payments over the next four years, contending the reprieve is warranted based on the city’s financial challenges.Such a reprieve would shrink the $526.6 million annual payment San Diego is slated to send its pension system this summer by $100…
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New Mexico legislatures to receive hefty pension increase
New Mexico lawmakers are going to see a 50% increase in retirement payouts. The governor has already signed that bill into law, but critics say that the increase was passed quietly."It would have been nice to have a more robust public debate on this issue. It's definitely something that flew under our radar screen," said Paul Gessing the…
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Social Security suddenly demanded I send them $121k – but I did nothing wrong
SOCIAL Security has demanded thousands of dollars back from people after the agency accidentally overpaid. In 2023, a woman named Lori revealed she received a letter from Social Security saying she owed them $121,000 for overpaid benefits.Social Security suddenly demanded Lori send them $121,000Credit: ABC News via WFTVDuring that fiscal year,…
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IATSE and Other Crew Unions Make Pension and Health Proposals as Bargaining Begins
Katcy Stephan / Variety
IATSE and the Hollywood Basic Crafts unions opened bargaining on Monday by making their proposals on pension and health items.
The first day of bargaining followed a massive rally on Sunday, at which union leaders warned of a sequel to last year’s Hot Labor Summer if no deal is…
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Retirement and re-employment ages to be raised to 64 and 69 in 2026
SINGAPORE: From 2026, employees can only be asked to retire when they turn 64 years old as the retirement age in Singapore rises by one year.
This is part of a move to progressively increase the retirement age in Singapore to 65 by the year 2030.
The re-employment age will also be raised to 69 in 2026, Minister of State for Manpower Gan Siow…
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