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SPORTS
February 19, 2013 | By Dylan Hernandez
PHOENIX - Even if the Dodgers win the World Series, this season might not be Jerry Hairston Jr.'s last. Recalling his declaration last month that he would retire at the end of the season if the Dodgers won the championship, Hairston said, “I was just coming off of hip surgery and, really, I was more excited about the opportunity of winning.” “Would I trade a World Series for retirement? Absolutely.” But the 36-year-old utilityman said he would wait until the season ended to make a decision.
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ENTERTAINMENT
April 15, 2014 | By Patrick Kevin Day, This post has been updated, as indicated below.
The announcements have been made and the pundits have commented. Now it's time for America to witness the first public meeting between Stephen Colbert and David Letterman since the announcement was made that Colbert would be taking over CBS' late-night slot sometime next year. Colbert has appeared on Letterman's show 12 times since the premiere of his Comedy Central show, "The Colbert Report," in 2005. But when he sits down on "Late Show" next Tuesday, he'll be there kicking the tires and seeing how the audience treats him. Face-to-face with the man who will one day take over his job, will Letterman suddenly have second thoughts and renounce his retirement plans?
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BUSINESS
November 12, 2013 | By Stuart Pfeifer
The percentage of U.S. workers who participate in their employers' retirement plans slipped to 39% in 2012, according to a report by the Employee Benefit Research Institute. Despite the tax savings and long-term benefits of stashing pre-tax money in retirement plans, the majority of workers fail to take advantage of employer-sponsored programs, such as 401(k) accounts, the group reported. The 39.4% participation rate was a slight decrease from a 39.7% rate a year earlier, the group said.
SPORTS
February 16, 2014 | By Ben Bolch
NEW ORLEANS - Kobe Bryant cheerfully answered questions about his new line of shoes, a possible visit to India and his preference for old-school dunk contest rules. His joviality didn't quite carry over to the update on his injured left knee. The Lakers guard said before the All-Star game Sunday that his recovery was "coming slowly" and did not provide a timetable for a possible return from the injury that has sidelined him since Dec. 17. "I'm optimistic coming out of the break that I will have some improvements once I get back to L.A. and do a couple [of]
BUSINESS
June 6, 2012 | By Walter Hamilton
Ultra-low interest rates on retirement accounts may force many Americans to delay their golden years, according to a new survey. One-third of investors say they may have to put off retirement because low rates are preventing them from earning enough in retirement accounts, according to the poll by Wells Fargo and Gallup being released Wednesday. Wanna-be retirees are compensating by working longer or scaling back their retirement dreams. Some people are taking more investment risks.
OPINION
July 30, 2000
Re "Retirement Plans: a Wider Field," editorial, July 21: Voluntary contributions to 401(k) plans and traditional IRAs are tax deferments with the lost revenue of today being made back in spades when distributions are made in one's retirement years. These tax deferments are a great hedge for the government against the inevitable bust that the retirement of the baby boomers will create. As for those living from paycheck to paycheck being left out of the House bill [raising contribution limits]
BUSINESS
October 31, 2013 | By Ricardo Lopez, This post has been updated. See note below for details.
Sunkist Growers Inc., the Sherman Oaks-based citrus cooperative, has been ordered to restore more than $1.6 million to employee retirement plans, the U.S. Labor Department said Thursday. The Labor Department sued Sunkist after Employee Benefits Security Administration investigators found that the company had mishandled employee retirement money. "Retirement plan assets represent workers' hard-earned savings, not a source of operating funds that companies can choose to use as they see fit," said Phyllis C. Borzi, Assistant Secretary of Labor for employee benefits security, in a statement.
BUSINESS
September 9, 2013 | By Walter Hamilton
Employees at small companies pay much higher fees in their 401(k) retirement plans than people at large firms, according to a new study. Over a 35-year career, the average worker at a small company will pay $113,206 more in fees than a counterpart at a huge corporation, according to an analysis by Bankrate.com. “People who work for very large companies are most likely to pay comparatively little for their retirement plans,” according to the analysis . “Employees of small companies are likely to pay a lot more.” QUIZ: How much do you know about mortgages?
BUSINESS
March 14, 2011 | By Karen E. Klein
Dear Karen: How can I save for retirement? Answer: There are simple retirement plans designed for entrepreneurs. You set them up and deduct contributions yourself, without a plan administrator or complex tax reporting, said Margaret A. Kruse, assistant vice president of Allianz Life Insurance Co. of North America. SEP- and SIMPLE-IRAs are tax-advantaged retirement plans. If you have employees, you can contribute amounts equaling up to 25% of their compensation into the SEP-IRAs.
BUSINESS
January 5, 2014 | Liz Weston, Money Talk
Dear Liz: My husband and I are 56. We need to plan for retirement, but whenever the topic comes up, I find that either we have no idea or we disagree on what we will do during our retirement. Naturally, our activities during retirement will affect the funds we will need. We need help to figure out the things we agree on and where we might want to plan for different individual options. Do you have some resources to suggest? Answer: You can start with a visualization exercise that some financial planners use to clarify their clients' values.
SPORTS
February 12, 2014 | By Stacy St. Clair
SOCHI, Russia - When he anchors the final leg in the team relay Thursday, American luger Christian Niccum will most likely be taking his final run. After more than two decades of hurling himself down an icy track at speeds topping 80 mph, Niccum intends to retire from the sport and build a more conventional life for his wife and three children. The three-time Olympian says he wants to get a traditional job, one that allows him to support his family instead of the other way around.
BUSINESS
January 21, 2014 | By Walter Hamilton
Nearly half of baby boomers who are in the workforce today say they don't expect to retire until they're 66 or older, and one in 10 think they'll never stop working, according to a new poll. Financial concerns are the biggest factor driving boomers' diminished retirement plans, but their “notoriously hard-charging work ethic and drive to get ahead” also factor in, according to the Gallup poll. The poll is the latest to suggest that a years-long change in Americans' retirement plans is accelerating as the boomer generation ages.
OPINION
January 7, 2014 | By Hedrick Smith
The narrowly approved contract agreement between Boeing and its Washington state workforce will be hailed by some as a victory for the canny, hardball brinkmanship of Boeing's management and the knuckle-under economic pragmatism of the International Machinists Union. But the steep cutbacks in retirement and health benefits that tens of thousands of Boeing workers were forced to swallow have far larger implications for middle-class America. Boeing's stingy treatment of its highly skilled workforce offers a vivid example of how America's new economy has created gaping economic inequalities and steadily squeezed the economic life out of the U.S. middle class over the last three decades, even as corporate profits and CEO pay have skyrocketed.
BUSINESS
January 5, 2014 | Liz Weston, Money Talk
Dear Liz: My husband and I are 56. We need to plan for retirement, but whenever the topic comes up, I find that either we have no idea or we disagree on what we will do during our retirement. Naturally, our activities during retirement will affect the funds we will need. We need help to figure out the things we agree on and where we might want to plan for different individual options. Do you have some resources to suggest? Answer: You can start with a visualization exercise that some financial planners use to clarify their clients' values.
BUSINESS
December 29, 2013 | Liz Weston, Money Talk
Dear Liz: I have about $16,000 in student loans at 6.8% interest. At the current monthly payment it would take me about 7.5 years to pay them off. I contribute 10% of my income to my company's Roth 401(k) plan (my employer matches the first 6% contributed). I also contribute 3% to the stock purchasing plan. I am thinking of cutting back my 401(k) contribution to 6% and not contributing to the stock purchasing plan. Applying the extra money to my loans would reduce the payback period to about 2.5 years.
BUSINESS
December 13, 2013 | By David G. Savage
WASHINGTON - The U.S. Supreme Court said Friday that it would decide whether employees who suffer big losses in retirement accounts can sue their company if it encouraged them to invest in the company's shaky stock. The justices will try to clarify who is legally responsible for investment losses in an era when most workers manage their own retirement accounts but do it through a plan sponsored by their employer. Federal law says that administrators of an employee retirement fund have a duty to act as "prudent" trustees.
CALIFORNIA | LOCAL
July 21, 2000
The House of Representatives Wednesday overwhelmingly approved legislation aimed at boosting retirement savings by workers. The measure would stimulate savings and make the administration of retirement accounts easier for employers. But it should be amended to modify provisions that tilt the benefits heavily in favor of upper-income workers and to add provisions encouraging employers to set up retirement plans for their moderate- and low-income employees. The U.S.
BUSINESS
May 13, 2001 | Kathy M. Kristof
An easy way to start narrowing the field when choosing between retirement plans is to consider the restrictions. IRAs, 401(k)s and Roth IRAs, though ubiquitous, are not available to everyone. Your ability to contribute to a Roth IRA is restricted by income; your ability to deduct contributions to a traditional IRA depends on whether you're covered by another qualified retirement plan. And your ability to contribute to a 401(k) plan depends on your employer.
BUSINESS
December 1, 2013 | Ronald D. White
Financial planners like to see smooth waters for clients in their 50s: saving lots in the best earning years of one's career, avoiding new debt, paying off the mortgage by retirement or soon thereafter. Instead, Christopher and Robyn Reagan of South Pasadena have weathered a storm of big events. "We had just gotten to a point where we could afford to live in this house," said Christopher Reagan about the couple's 73-year-old, three-bedroom, two-bathroom home in South Pasadena, purchased in 1998.
BUSINESS
November 26, 2013 | By David Lazarus
Jared wants to know how he can find a certified financial planner who doesn't hit clients for huge commissions but instead wants only a fee for his or her services. First off, big props to you, Jared, for getting your financial house in order. Too many people let things slide instead of making prudent moves to shore up retirement plans or earn the most from their investments. ASK LAZ: Smart answers to consumer questions It's true that many financial planners want a commission.
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