Social Security Q&A: Will Taxes on My Pension Increase My Social Security Benefits?
Question: I am a retired teacher in Arizona. Federal taxes are taken out of my pension payment, but they are not reported to Social Security account. Why is this? I thought the taxes ...
Documents: Illinois Gov. Rauner’s Budget Will Recommend Pension Cuts
Illinois Gov. Bruce Rauner will give his budget address on Wednesday afternoon. He’ll announce a number of cost-cutting proposals, and pensions are sure to be featured.
What specifically ...
Before You Take a Pension Advance, Consider the Consequences
You’ve heard of payday advances. But pension advances?
Believe it or not, businesses are popping up that allow retirees to do just that: “sell” a portion (or all) of their future ...
Michigan Gov. Vetoes Pension Tax Repeal
A Michigan lawmaker this month introduced a bill to repeal the state’s tax on pension benefits. But Gov. Snyder immediately stopped the bill in its tracks by saying he would veto ...
New Hampshire Supreme Court Upholds Benefit Changes With Two Recent Rulings
The New Hampshire Supreme Court has upheld several changes key to the state’s pension reforms passed since 2011, just a month after it also upheld the legality of increasing employee ...
Top Kentucky Lawmaker Close to Filing Bill For Additional Teacher Pension Funding
Kentucky House Speaker Greg Stumbo says he is planning on filing a bill by the end of the week that would give additional funding to the state’s Teacher Retirement System.
The funding ...
Cincinnati Strikes Pension Deal — Here’s What It Means For Benefits
After nearly a year of negotiations, Cincinnati and its public workers have reached an agreement that aims to increase the sustainability of the city’s pension system.
The city will ...
Low-Income Detroit Retirees Can Apply For Pension Aid — But They Only Have Until Dec. 31
Low-income retirees living in Detroit can apply for aid to offset some of the pension cuts brought on by the city’s bankruptcy this year.
The program is a one-time offer – and ...
Do Pensions Give Retirees a False Sense of Retirement Security?
At one time, pensions were seen as the safest, most secure stream of retirement income. But the security of pension benefits is no longer rock-solid. That raises the question: do pensions ...
Kansas to Weigh Privatization of Pension System
Kansas Gov. Sam Brownback’s team is reportedly exploring options to reform the state’s pension systems.
One option on the table: privatization.
From the Associated Press:
Two top ...
