News & Public Affairs

Retirement Expert Warns US Facing a Crisis of More Seniors Living in Poverty

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Tags: retirement, poverty, pensions, 401(k)s, Teresa Ghilarducci, social security

Good afternoon, welcome to The Last Call. I’m Rob Lorei. Coming up today: retirement, Social Security, pensions and 401k’s.

In Tallahassee the new speaker of the house- Will Weatherford is pushing a plan to end defined pension benefits for new employees and replacing them with 401k’s. We’re going to talk with one of the country’s leading experts on retirement. Our guest is Teresa Ghilarducci, Chair of Economic Policy Analysis and director of the Schwartz Center for Economic Policy Analysi...

Labor groups warn against changes to Florida's pension program listen

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Tags: labor, pensions, retirement, 401k, defined benefit, Florida Retirement Security Coalition, state workers, unions

Proposed legislation in the Florida House would force new state employees hired after 2014 to use a 401k-style retirement fund instead of the current pension program. During a conference call Wednesday, critics of the measure said the change would hurt public employees. Diane Oakley, executive director for the National Institute on Retirement Security said seniors enrolled in the type of retirement program being proposed are nine times more likely to live in poverty during their final years...