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Showing blog posts tagged with pension

Labor Offers Realistic Path Toward Meeting New Jersey’s Pension Obligation

The New Jersey State AFL-CIO and its affiliated unions have been working hard to find solutions to the state’s pension funding problem on behalf of nearly 800,000 current and retired public employees who have been contributing faithfully to their pensions and whose retirement security depends partly on earned pension income.

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Tell the Department of Labor to Stop Wall Street from Draining Your Retirement Account

Tell the Department of Labor to Stop Wall Street from Draining Your Retirement Account

When you pay a financial adviser to help you invest your hard-earned retirement savings, you would assume that they would be required, by law, to have your best interests at heart. But because of loopholes in the rules, advisers can get away with not only putting their own financial interests above that of their clients, but also allows them to take incentives from Wall Street firms to recommend investments that drain funds from ordinary Americans’ retirement accounts through hidden fees and lower returns. The White House Council of Economic Advisers says this costs us $17 billion a year.

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Well Past Time to Update Overtime: Winners and Losers of the Week

Photo courtesy swanksalot on Flickr

In our regular weekly feature, we’ll be taking a look at the winners and losers of the week in the struggle for the rights of working families. The winners will be the persons or organizations that go above and beyond to expand or protect the rights of working families, while the losers will be whoever went above and beyond to limit or deny those rights.

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N.J. AFL-CIO: Pension System Could Net $87M if N.J. Makes Payment in July

N.J. AFL-CIO: Pension System Could Net $87M if N.J. Makes Payment in July

New Jersey State AFL-CIO President Charles Wowkanech expressed the federation’s support for a proposal by the state’s Senate President Stephen Sweeney and Assembly Speaker Vincent Prieto calling on Gov. Chris Christie to make the state’s annual pension payment at the start of the fiscal year, rather than waiting until the end of the year.

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Pension Expert: Wall St. Fees a Losing Investment for N.J. Taxpayers

The $1.5 billion in fees the state of New Jersey paid to Wall Street pension fund managers over the past five years was an unwise use of taxpayer money, concludes a nationally known investment expert who analyzed pension investment returns and fund management fees.

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Thank You, Chris Christie: Winners and Losers of the Week

Thank You, Chris Christie: Winners and Losers of the Week

In our regular weekly feature, we'll be taking a look at the winners and losers of the week in the struggle for the rights of working families. The winners will be the persons or organizations that go above and beyond to expand or protect the rights of working families, while the losers will be whoever went above and beyond to limit or deny those rights.

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N.J. AFL-CIO Proud to Be Part of Pension Funding Fight Before State Supreme Court

N.J. AFL-CIO Proud to Be Part of Pension Funding Fight Before State Supreme Court

The New Jersey State AFL-CIO is proud to stand shoulder to shoulder with our affiliated public employee unions in the fight for state pension funding before the New Jersey Supreme Court.

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Judge Tells Christie: Obey the Law and Fund Pensions

 A New Jersey Superior Court Judge has taken Gov. Chris Christie to task in a ruling that forces him to contribute his share to the New Jersey state pension system, just as public workers have been doing all along.

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White House Moves to Close Retirement Advice Loophole

White House Moves to Close Retirement Advice Loophole

The Obama administration today took the first step to close a loophole in the rules that govern Wall Street brokers and financial firms that provide retirement investment advice. That loophole can drain away thousands, or even tens of thousands, of dollars of hard-earned savings from a single retirement account.

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Time to Close Wall Street’s ‘Retirement Advice Loophole’

Alliance for Retired Americans photo

There is a loophole in the rules that govern Wall Street brokers and financial firms that provide retirement investment advice that can drain away thousands, or even tens of thousands, of dollars of hard-earned savings from a single retirement account. Today, a coalition of senior, union and consumer groups launched a new website—SaveOurRetirement.org—to mobilize support to close the “Retirement Advice Loophole” through a new rule the U.S. Department of Labor is trying to adopt.

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