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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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