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NEWS ABOUT: retirement fund

3 European Countries Grab at Private Pensions

Hungary, Bulgaria, Poland call for citizens' savings

(Newser) - As European governments seek new sources of revenue, private retirement plans are taking a hit. Since most are organized by the state, "European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this... More »

Town's Pension Collapse Seen as Warning Across US

When fund ran dry, it stopped paying its retirees

(Newser) - When an Alabama town’s pension fund ran out, it simply stopped sending money to its retirees—a decision that’s never been made before, pension experts believe. That left retired public workers struggling: Some returned to work, one filed for bankruptcy, and one died with no electricity or running... More »

Consumer Confidence Hits New Low

Index plummets to 25, compared to 76.4 a year ago

(AP) - Americans' already-battered confidence in the economy went into freefall this month, reaching new lows as consumers grow more fearful over huge job cuts and shrinking retirement accounts. New York's Conference Board said its Consumer Confidence Index, which was down slightly in January, plummeted more than 12 points in February to... More »

Lehman to Spin Off $4.5B Private Equity Arm

A strategy of hold and manage, rather than sell into weakness, has emerged

(Newser) - Lehman Brothers, bleeding out but not quite dead, will spin out its private equity arm into an independent firm, which will take on new investment from a South African billionaire investor, the Wall Street Journal reports. The Lehman estate will retain a small interest in Lehman Brothers Merchant Banking, which... More »

Obamas Play It Too Safe With Personal Finances

Despite big new book-generated income, and youth, they're too cautious

(Newser) - Barack and Michelle Obama invest their own money “very, very safely”—perhaps too conservatively, say Sam Grobart and Tara Siegel Bernard in Slate. The Democratic frontrunner and his wife only began rolling in the money recently and their portfolio—“for the most part, a collection of run-of-the-mill... More »

Advice Amid Market Turmoil: Don't Panic!

Ride out the storm and hang on to your 401k, experts say

(Newser) - If you’re watching today’s economic news with trepidation, financial experts want you to take a deep breath. “This is not the beginning of the end,” said one analyst. “If you’re going to invest in stocks, this kind of volatility comes with the territory.”... More »

$10 Million Added to NFL Retirees Fund

Money will target joint replacement, other medical concerns

(Newser) - The medical fund the NFL established in July for its retired players will receive a $10 million boost. The money will be added to the $7 million already in the fund and be used for joint replacement surgery, cardiovascular screening and assisted living. “We're continuing to work on the... More »

Hillary Offers 401(k)s for All

Feds would match up to $1,000 for middle income Americans

(Newser) - Today Hillary unveiled a new plan, vowing to help Americans retire by matching $1,000 of their savings with federal funds. She says feds can match 50-100% of the first $1,000 saved in a 401(k)-style account, depending on one's income. She plans to pay the $20-$25 billion tab by... More »

BCE Agrees to Landmark LBO

Ontario teachers' retirement fund lines up largest Canadian takeover ever

(Newser) - Canada's dominant telecom company will go private in the country's biggest takeover ever, and one of the largest LBOs in the world. A powerful teachers' retirement fund and two American private-equity firms made a deal yesterday for CBE, also known as Bell Canada. The $48.5 billion (C$51.7 billion)... More »

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