retirement

Office of Sen. McCaskill

Almost half of working-aged Americans are at risk of having a lower standard of living in retirement than they now enjoy, according to a new study by the National Institute on Retirement Security.

“This retirement security crisis is very real,” said U.S. Sen. Claire McCaskill, D-Mo., the ranking member on the Senate’s Special Committee on Aging. “In Missouri, only 45 percent of private sector workers are participating in an employer-sponsored retirement plan, and that is not an anomaly.”

Vince Schoemehl, former St. Louis mayor and president of Grand Center Inc., talks to 'St. Louis on the Air' host Don Marsh on Jan. 12, 2015, at St. Louis Public Radio in St. Louis.
Jason Rosenbaum I St. Louis Public Radio / St. Louis Public Radio

Weighing in on how to keep the St. Louis Rams from moving back to Los Angeles, former St. Louis Mayor Vince Schoemehl supports building a new stadium for the team. But the proposed location is wrong, he said.

via Wikimedia Commons

According to the Pew Research Center, hundreds of thousands of Americans could live to see 100 by the year 2050. Women in France, Japan and the United States have already lived past the age of 114. With the now realistic possibility that individuals may live into the triple digits, planning ahead for retirement becomes both more important, and more challenging.

Living Longer

(via Flickr/aperte)

A group of voters is challenging the validity of a measure on this fall's ballot that would make it more difficult to improve retirement benefits for public employees.

In a statement Thursday, Republican state Senate candidate John Bambenek, of Champaign, said he and 10 other Illinois residents filed a lawsuit arguing the question is unconstitutional.

Wallula Junction / Flickr

Since late last year, almost a quarter of Illinois state park superintendents have retired, taking with them in many cases 30 or more years of experience that will be hard to replace.
 
The loss of that institutional knowledge is one more cost of the state's deep financial crisis. The Illinois Department of Natural Resources is among state agencies hit hard by years of budget cuts.
 

(via Flickr/Jennifer_Boriss)

Reporting from Illinois Public Radio's Guy Stephens and Brian Mackey was used in this report.

Longtime state employees would no longer be able get free health insurance when they retire under legislation approved by the Illinois House today.

The vote is part of a push to cut pension benefits for government retirees. The governor, House speaker and other officials want to save money by cutting pensions, health care and other costs.

House Republican Leader Tom Cross says it's the first of many difficult votes to come.

(via Flickr/Jennifer_Boriss)

An Illinois House committee wants to take away a perk for government retirees who get a big break on health insurance.

State employees who work for 20 years pay no insurance premium in retirement. A measure to end that benefit cleared the  House Executive Committee, which is controlled by Democrats, without opposition Wednesday.

The American Federation of State, County and Municipal Employees opposes the legislation.

Twelve former employees of the St. Louis Post-Dispatch have sued the paper, saying corporate officials lied to them about the benefits the employees would receive after taking an early retirement offer in 2007.

Looks like Kit Bond isn't just moving out of national politics when he retires, but is moving on -- to the private sector.

Bond announced today, via a press release, that he will be having a morning press conference tomorrow in St. Louis to share the details of his next step. A location for the press conference was not listed, but will be announced at 8 a.m.

The website "TopRetirements.com" mentioned 10 states that retirees should avoid based on fiscal health, taxation and climate.  Topping the list? Illinois.