A new report issued by the Organization for Economic Co-operation and Development has advised governments to increase the retirement age in their countries. In the face of longer life expectancies, a higher retirement age is the only way to keep pension programs solvent, it says.
On Sunday, President Obama and members of the U.S. Congress agreed to cut at least $2.4 trillion from federal spending over the next 10 years, some of which will come from programs that benefit retired Americans. (more)
Republicans and a handful of “Christie Democrats” joined forces in New Jersey’s legislature on Thursday to punch through a bill that will require public workers to pay way more for their health insurance and pensions, curb unions’ collective bargaining rights and rob them of other crucial benefits. (more)