Finance :: Retirement

Bob Leeds retired from banking and social-services work.

Pension Agency Says Plans for 1.5 Million at Risk

By Tom Raum | Jul 1
Despite an improving U.S. economy, retirement plans covering roughly 1.5 million workers are severely underfunded, threatening benefit cuts for current and future retirees, a federal watchdog agency warned Monday.

Who Put Sleeping Pills into Wall Street’s Water?

By Bernard Condon | Jun 24
In a world suddenly more dangerous, you’d think fund managers and traders would be selling and buying and selling again in a frenzy of second-guessing. Instead, they’re the picture of calm and contentment.

Former Environmental Protection Agency (EPA) Administrator Christine Todd Whitman speaking in Decorah, Iowa.

Republican EPA Chiefs to Congress: Act on Climate

By Dina Cappiello | Jun 23
Top environmental regulators for four Republican presidents told Congress what many Republican lawmakers won’t: Action is needed on global warming.

Report: Social Security Judges Rubber-Stamp Claims

By Stephen Ohlemacher | Jun 12
Four Social Security judges defended their work amid accusations they rubber-stamped claims for disability benefits, approving billions of dollars in payments from the cash-strapped program.

Schedulers Ordered to Lie About VA Wait Times

Jun 11
An internal audit revealed in more than 75 percent of all Veterans Affairs clinics, at least one scheduler said supervisors ordered them to falsify records of how long veterans were waiting. More than 57,000 veterans have been waiting up to three months.

Growth or Value? Fund Investors’ Choice is Clear

By Stan Choe | Jun 6
Investors are embracing stocks, pushing the Standard & Poor’s 500 further into record territory. But investors are focusing on mutual funds that buy cheap or underappreciated stocks, ones called value funds.

Rep. David Nathan, D-Detroit discusses Detroit bailout bills with Rep. Vicki Barnett, D-Farmington Hills

Michigan House Approves Detroit Bankruptcy Funds

By David Eggert | May 23
Michigan’s House approved spending $195 million to help prevent steep cuts in Detroit retiree pensions and the sale of valuable art, a measure that would link the state with a broader deal designed to end the largest public bankruptcy in U.S. history.

Ex-Spouses Tell IRS Different Stories on Alimony

By Stephen Ohlemacher | May 16
Somebody’s not telling the Internal Revenue Service the truth about their alimony payments.

Is Now the Right Time for Investors?

May 7
Americans looking to save for retirement are pouring money into stocks at the fastest pace in six years. CBS News Business Analyst Jill Schlesinger explains whether this is the right time to take those chances.

Seattle Mayor Ed Murray, right, is congratulated after announcing his proposed phased-in increase of the city’s minimum wage to $15 an hour over the next seven years.

Seattle Mayor Proposes Phased-in $15 Minimum Wage

By Donna Gordon Blankinship | May 6
Seattle Mayor Ed Murray on Thursday proposed a phased-in increase of the minimum wage to $15 an hour over the next seven years - a compromise endorsed by both business and labor that would make the city’s pay baseline the highest in the nation.