Download or read book Pension Ponzi written by Bill Tufts and published by John Wiley & Sons. This book was released on 2011-01-25 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The vast majority of Canadians are blissfully unaware that every man, woman and child in Canada now owes a $35,000 share of government debt and must pay this back, with interest! Make no mistake, this debt will change our country and affect every single Canadian in the decades to come. You may think you have planned for your retirement and are safe, but the government must find a way to recover this borrowed money, and they can only do that by raising your taxes and reducing your hard-earned benefits. How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of the politicians who refused to stand up to Canada's public sector unions. The fact is Canada's public sector, which accounts for 20% of the workforce, has been grossly overpaid relative to their counterparts in the private sector with cushy pensions paid for with your taxes and new debt. There is no denying that the country does not have the financial resources to ensure that the next generation of Canadians will have the same standard of living as the ones before it-or to support our growing seniors population. Meeting our public sector pension obligations will break the current social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer? Nationally-recognized pension expert Bill Tufts and award-winning journalist Lee Fairbanks explore how this catastrophe came about and then suggest ways that government can fix what's broken, and how you as an individual can protect yourself from the financial calamity that is about to engulf Canada.

Download or read book Public service pensions written by Great BritainH.M. Treasury and published by The Stationery Office. This book was released on 2011-11-02 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper the Government sets out its preferred scheme design for public service pensions. It is built on the foundations laid by Lord Hutton in his report (Independent Public Service Pensions Commission: final report, 2011, ISBN 9780108510410). The cost of public service pensions paid out has risen by over a third over the last ten years to £32 billion a year. Reforms to date have been insufficient to reverse the increase in costs of public service schemes from rising longevity. The Government's offer is: benefits already earned are protected; for those in final salary schemes, those past benefits will be linked to their final salary when they leave the scheme or retire; public service workers with ten years or less to their current pension age, will see no change in when they can retire; Government will continue to pay more overall toward pension benefits than the workforce. The scheme design will ensure: guaranteed, index-linked pension benefits on retirement; an accrual rate of 1/60ths and earnings indexation for benefits while still working in the public service; fairer distribution of benefits across the workforce; and, that most low and middle earners working a full career will receive pension benefits at least as good as they get now. But in return, the Government is asking public service workers to pay more towards their pensions and work a bit longer. The Government's offer is conditional on the trades unions and the Government reaching agreement on the reforms.

Download or read book The Pig Book written by Citizens Against Government Waste and published by Macmillan. This book was released on 2005-04-06 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compendium of the most ridiculous examples of Congress's pork-barrel spending.

Download or read book Congressional Record written by United States. Congress and published by . This book was released on 1968 with total page 1324 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Illinois Pension Scam written by Bill Zettler and published by Champion News LLC. This book was released on 2012-05-01 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scam: a fraudulent or deceptive act. Webster's Dictionary. Illinois' state pension systems are in the worst financial condition of any state system in the country. According to Pew Research, Illinois ranks dead last with only 51% of its pension obligations funded. In this well-documented and provocative book, Bill Zettler debunks the common myths surrounding the reasons why Illinois is last in pension funding. According to Zettler, collusion between public sector unions and the politicians they have funded with member dues has resulted in more than 130 benefit increases since 1970 most of them passed by the Illinois legislature with large majorities and with little or no publicity. Those benefit enhancements and their costs have been underplayed by both the public employees and the politicians to the point where there are currently over 6,700 pensions in excess of $100,000. These $100,000 pensions are growing at a rate of more than 20% per year thus projecting to more than 25,000 by 2020. Zettler uses publicly available information on salaries and pensions to develop a powerful argument for immediate restrictions on Illinois public salaries and pensions in order to bring them into line with the private sector and to prevent the state from bankrupting Illinois' children's future. Bill Zettler is Director of Research for the Family Taxpayers Foundation and has researched and written over 150 articles on Illinois public salaries and pensions since 2005. For 30 years prior to that Zettler was owner or principal of three different software companies.

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Download or read book State and Local Pensions written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2012-08-27 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.

Download or read book Draft Pensions Bill written by Great Britain: Department for Work and Pensions and published by The Stationery Office. This book was released on 2013-01-18 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This draft Pensions Bill contains provisions to introduce a single-tier pension which will for future pensioners replace the current two component State Pension (basic State Pension and additional State Pension) with a single component flat-rate pension that is set above the basic level of means tested support. Previously the Government set out details of its proposals in Cm. 8528 the single-tier pension: a simple foundation for saving (ISBN 9780101852821) and Cm. 8053 A state pension of the 21st century (ISBN 9780101805322). These reforms will also modernise the state pension system to reflect the lives and contributions of today's working age people whilst ensuring the system is sustainable for future generations. As life expectancy continues to rise the Government believes there is a need for a more structured framework within which to consider changes to the State Pension age in the future which this draft legislation includes. The draft Bill also includes measures to reform the current suite of Bereavement Benefits through the introduction of Bereavement Support Payment which will support people through the difficult early months in a more transparent way. The draft Bill contains a number of provisions relating to private pensions mostly to clarify existing legislation relating to automatic enrolment or the Pensions Regulator. There is a new provision to encourage individuals to transfer a cash equivalent value of their accrued rights from a Defined Benefit scheme to an alternative arrangement. There are explanatory notes included which provide an outline of the effect of each clause in the draft Bill and are intended to be read alongside the draft Bill.

Download or read book Pension Bills Providing Non service connected Pension Benefits for Veterans of All Wars written by United States. Congress. House. Committee on Veterans' Affairs. Subcommittee on Compensation and Pensions and published by . This book was released on 1964 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The cost of public service pensions written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2010-03-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been much public discussion about the affordability of public service pensions. This National Audit Office report aims to bring greater transparency to, and understanding of, the cash costs involved. Total payments to more than 2 million pensioners in the UK's four largest pay-as-you-go pension schemes (also known as unfunded schemes - where current employee and employer contributions are used to pay current pensions) were £19.3 billion in 2008-09, a real terms increase of 38 per cent since 1999-2000. This is driven by more employees retiring each year, which is a substantially more significant factor than longer lifespans. Employee contributions of £4.4 billion reduced the taxpayer's share of costs to £14.9 billion in 2008-09. The employee element grew by 56 per cent in real terms since 1999-2000 because staff numbers and contribution rates have increased. The report also looks at projections of payments across all UK public sector pay-as-you-go pension schemes over the next fifty years. Expressed in terms of constant 2008-09 prices, the Government Actuary's Department projects total payments rising to over £79 billion a year by 2059-60. The Treasury has a reasonable framework in place for assessing future costs and has undertaken some analysis on the sensitivity of projections to changes in key assumptions. The Treasury has not undertaken any systematic analysis of the effects of changing its assumption that there will be zero public service headcount growth, despite the existence of several factors that could put upwards pressure on staff numbers in the long term.

Download or read book The Employee Retirement Income Security Act of 1974 written by James Wooten and published by Univ of California Press. This book was released on 2005-01-24 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study of the Employee Retirement Income Security Act of 1974 (ERISA) explains in detail how public officials in the executive branch and Congress overcame strong opposition from business and organized labor to pass landmark legislation regulating employer-sponsored retirement and health plans. Before Congress passed ERISA, federal law gave employers and unions great discretion in the design and operation of employee benefit plans. Most importantly, firms and unions could and often did establish pension plans that placed employees at great risk for not receiving any retirement benefits. In the early 1960s, officials in the executive branch proposed a number of regulatory initiatives to protect employees, but business groups and most labor unions objected to the key proposals. Faced with opposition from powerful interest groups, legislative entrepreneurs in Congress, chiefly New York Republican senator Jacob K. Javits, took the case for pension reform directly to voters by publicizing frightening statistics and "horror stories" about pension plans. This deft and successful effort to mobilize the media and public opinion overwhelmed the business community and organized labor and persuaded Javits's colleagues in Congress to support comprehensive pension reform legislation. The enactment of ERISA in September 1974 recast federal policy for private pension plans by making worker security an overriding objective of federal law.

Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1080 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. - Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues - Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource - Presents diverse perspectives on subjects that can be closely associated with national and regional concerns - Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging

Download or read book Individual retirement arrangements IRAs written by United States. Internal Revenue Service and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book United States Code written by United States and published by . This book was released on 2013 with total page 1506 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.

Download or read book An Act to Provide for the General Welfare by Establishing a System of Federal Old age Benefits written by United States. Congress and published by . This book was released on 1935 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Environmental Social and Governance ESG Investing written by John Hill and published by Academic Press. This book was released on 2020-01-30 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio presents a balanced, thorough analysis of ESG factors as they are incorporated into the investment process. An estimated 25% of all new investments are in ESG funds, with a global total of $23 trillion and the U.S. accounting for almost $9 trillion. Many advocate the sustainability goals promoted by ESG, while others prefer to maximize returns and spend their earnings on social causes. The core problem facing those who want to promote sustainability goals is to define sustainability investing and measure its returns. This book examines theories and their practical implications, illuminating issues that other books leave in the shadows. - Provides a dispassionate examination of ESG investing - Presents the historical arguments for maximizing returns and competing theories to support an ESG approach - Reviews case studies of empirical evidence about relative returns of both traditional and ESG investment approaches