Retirement News

If you think your retirement account has taken a hit with the wild swings on Wall Street, consider this. The Anchorage Daily News reports the Alaska Permanent Fund's value dropped more than $1 billion Monday when the Dow Jones Industrial average fell 634 points.

The Treasury Department has exited its investment in Chrysler Group by selling a $500 million, or 6%, stake to Fiat , with the Italian automaker also paying $60 million for rights under an agreement with the UAW retirement trust.

[Bankrate.com] - Financial emergencies led 19 percent of Americans to tap into retirement money in the last year.

[AP] - The state teacher retirement fund's investment managers received more than $8.2 million in bonuses this year, more than double what every other state agency's top employees have received combined since 2007, according to a newspaper analysis published Sunday.

[AP] - A partisan fight is brewing in the Alabama Legislature over bills that would restructure the boards that oversee the retirement funds for teachers and state employees.

[AP] - More than $215 million in Iowa public employee retirement funds recovered after being frozen in a New York investment fraud case have been transferred to the state, Iowa Attorney General Tom Miller announced Thursday.

[AP] - The Alabama Legislature is getting closer to make public employees pay more for their retirement benefits. Republicans on the Senate Finance and Taxation-Education Committee pushed through a bill Wednesday that would require all of Alabama's public employees to contribute more for their pensions.

[Bankrate.com] - Only in very specific and highly limited situations should you consider tapping retirement savings early.

[AP] - Illinois should create a second, lower-cost retirement plan for government employees, even if it triggers a legal battle, state Treasurer Dan Rutherford said Tuesday.

Don't leave money behind -- or stint your retirement-saving potential.

Investors have good reason to be worried about the federal deficit but should also be wary of the stock market's rapid rise, David Carroll, senior executive vice president and head of Wells Fargo's wealth, brokerage and retirement division, tells TheStreet.

[AP] - The AFL-CIO and two outside experts Monday disputed what they say are "myths" that Florida's public employee retirement plans are underfunded and provide lavish benefits.

[BusinessWeek] - Now that baby boomers are starting to hit the official retirement age, they face a variety of financial headaches that previous generations avoided

[Bankrate.com] - Don't let your retirement be spoiled by taxes. Know the rules on what benefits are taxable.

Wall Street is cheering the abrupt retirement of Massey Energy Co. Chief Executive Don Blankenship. Shares of Massey outpaced most major coal stocks, rising $1.75, or 3.5 percent to $52.17 in afternoon trading Monday.

The federal government wants investors to have better information about the mutual funds in their retirement plans. Washington has the right idea, but the wrong solution.

The federal government wants investors to have better information about the mutual funds in their retirement plans. Washington has the right idea, but the wrong solution.

A revised plan to tackle the U.S. budget deficit aims to save the country $4 trillion through 2020 by raising the retirement age, hiking gasoline taxes and several other measures.

[AP] - J.P. Morgan Asset Management on Tuesday named Michael Falcon as managing director and head of retirement in the U.S. and Canada.

[AP] - The attorney general says the state Board of Education is violating the law by not making a required contribution this year to the Oklahoma Teachers' Retirement System.