Millions of Americans say the likely will have to push back their retirement because of rising inflation, newly released financial survey data found.
The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, showed that a quarter of Americans will likely need to delay their retirement because of higher prices.
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Congressman Fred Upton (R-MI-06) announced his retirement at the end of his current term on the House floor in a speech to his colleagues.
The Michigan lawmaker has served in the House of Representatives since 1987.
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Football legend Tom Brady has reversed his decision to retire and now plans on joining the Tampa Bay Buccaneers for the 2022 season.
“These past two months I’ve realized my place is still on the field and not in the stands. That time will come. But it’s not now,” Brady tweeted Sunday evening.
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Wednesday morning on The Tennessee Star Report, host Leahy welcomed State Representative Bruce Griffey of District 75 in studio to discuss his future plans, Kyle’s Law, and breaking news that his wife Rebecca Griffey will pull papers this week to run for his vacant seat.
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Supreme Court Justice Stephen Breyer will step down from his post at the end of the court’s current term, according to a report from NBC News.
Breyer is one of the three remaining Democrat-appointed justices on the high court. Should he retire, it will present President Biden with an opportunity to appoint a liberal-leaning justice who could sit on the court for many years to come, and for the moment, preserve the 6-3 split between conservative-leaning and liberal-leaning justices.
Breyer, who is 83, is the oldest member of the court. He had faced consistent pressure from liberal groups to retire, especially following the death of Justice Ruth Bader Ginsburg, whose passing allowed then-President Donald Trump to appoint Justice Amy Coney Barrett.
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AARP, the nation’s largest nonprofit, nonpartisan organization for Americans 50 and older, has ranked Jackson, Tennessee as one of the best places to live and retire in the country.
Jackson, located in Madison County, has a population of 68,205. According to AARP, Jackson made the list of best places to live and retire due to it’s “affordable and accepting” vibe. The organization also cites median home costs of $1,071 per month and the median home cost burden of 29.5% of income spent on housing. The city is also great for those who enjoy an outdoor lifestyle, with 74% of the population living near parks and recreational facilities.
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The American Association of Retired Persons (AARP) raked in massive profits in 2020, mostly from royalties on branded health insurance policies, not memberships, according to company financial documents.
AARP’s 2020 Form 990 shows that the organization reported $1.6 billion in revenue, with roughly $1 billion, or over 60%, from royalty revenue. Meanwhile, membership dues contributed under 20% of total revenue.
AARP’s 2019 Form 990 reported $1.72 billion in revenue, with royalties making up nearly 56% of revenue while membership dues contributed just 17%.
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Vermont Democratic Sen. Patrick Leahy announced his retirement Monday morning in his home state.
Leahy, 81, was first elected in 1975 and is in his eighth term. He is the president pro tempore of the Senate, making him third in the line of presidential succession after Vice President Kamala Harris and House Speaker Nancy Pelosi, and he is the chamber’s longest-serving member.
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Tuesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Tennessee State Senator Mike Bell in studio to talk about his retirement after 15 years in the Senate.
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Ten years after Act 10 became law and changed what Wisconsin school teachers can include in their school contracts, Democratic lawmakers in the state continue to try and roll it back.
Sen. Chris Larson, D-Milwaukee, and a handful of Democrats this week introduce what they are calling the Collective Bargaining for Public Education Act.
“Wisconsin’s public education sector has a unique and critical role to play in our state. To ensure the effectiveness of these institutions, we rely on highly qualified individuals and their talents to move our state forward,” Larson said in a statement. “The legislation we have introduced establishes the right of employees of school districts, CESAs, technical college districts, and the UW System to collectively bargain over wages, hours, and conditions of employment.”
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In much of the country, public pension funding has been one of the most persistent public policy problems. For years, many state governments have failed to make necessary investments in their retirement system, resulting in funding gaps that increasingly present a looming reckoning for taxpayers.
According to a recent report published by The Pew Charitable Trusts, a public policy think tank, many states are now taking earnest measures to reduce their pension funding gap. These measures include increased contributions, cost reduction strategies, and more sophisticated pension management tools. States have also benefited from once-in-a-generation investment returns following the COVID-19 market crash in March 2020.
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Supreme Court Justice Stephen Breyer remains undecided about retirement plans, saying in an interview published Friday that there are “many considerations” playing a part in his eventual decision.
Breyer, 83, is the oldest member of the court, and he has yet to decide when to retire, despite increasing pressure from activists to retire immediately.
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Thursday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Bob Woodson of the Woodson Center to the newsmakers line to announce his retirement, why he left the civil rights movement, and the search for his replacement.
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Michigan has seen a huge spike in teacher retirements during the past year, with many of those teachers citing COVID-19 restrictions as the reason for calling it quits.
“From August through February, there was a 44 percent increase in midyear retirements compared with the same period in 2019-2020 as 749 teachers left public school classrooms in the middle of the school year, state data show,” Crain’s Business Detroit reported.
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Following a year in which stock markets posted healthy gains, the organization running Ohio’s public employee benefits is cutting back — a lot.
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More than 85,000 coal miner retirees and 20,000 working miners are at risk of losing all or part of their pension by 2022 if more coal companies declare bankruptcy. Within the next four years, a handful of major coal-fired power plants in the Ohio Valley are expected to shut…
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