How We Got Out of a 401(k) and into a Real Pension

Labor Notes February 21, 2017 After being trapped in an inferior 401(k)-style retirement plan, is it possible for a union to reverse the trend and switch back to a traditional defined-benefit pension? Connecticut state employees did just that in 2012. Our little-known story, combined with similar victories in Massachusetts and West Virginia, shows it canContinue reading “How We Got Out of a 401(k) and into a Real Pension”

How Trustworthy Are TIAA’s Predictions of Future Retirement Income?

Beacon Broadside October 17, 2016 The ad from TIAA-CREF, the company that administers university and other retirement plans, which ran alongside my Yahoo inbox was too enticing to ignore. I clicked on the bait: “You could get 90% of your income and maintain your lifestyle in retirement.” The click brought me to another eye-catching claim:Continue reading “How Trustworthy Are TIAA’s Predictions of Future Retirement Income?”

Is Trump a Clumsy Le Pen?

Huffington Post October 10, 2016 What kind of political animal is Donald Trump? His campaign caught the Republican establishment, including the conservative think tanks, completely off guard. He may have caught himself off guard as well, never expecting to get this far, thinking of the campaign with an early exit as simply a way toContinue reading “Is Trump a Clumsy Le Pen?”

Sanders Broke Debs’ 104 Year Old Record for Most Votes for a Socialist

Huffington Post August 30, 2016 Unlike in Europe where socialist and communist parties have had sizeable voter support, historians have long noted and puzzled over their lack of electoral support in the United States, a part of the original meaning of the concept of American exceptionalism. The highpoint of American socialist voting on a nationalContinue reading “Sanders Broke Debs’ 104 Year Old Record for Most Votes for a Socialist”

Connecticut Governor Malloy’s Changes Weaken New Retirement Program

CT Mirror June 20, 2016 For private employees who don’t have workplace plans, Connecticut will now have a state-sponsored plan to save for retirement. Unfortunately, what could have been a useful program was severely weakened with changes required by Governor Dannel Malloy in the face of fierce financial services industry lobbying. This is what happened.Continue reading “Connecticut Governor Malloy’s Changes Weaken New Retirement Program”

Wrong Turn from Bernie, Ending Up at Trump

Huffington Post May 27, 2016 The possibility of Bernie voters becoming Trump voters was first thought to be because of their common critical positions on free trade agreements which have hammered working people. Bill Clinton as president was responsible for the passage of the Republican-initiated North American Free Trade Agreement. Hillary Clinton as Secretary ofContinue reading “Wrong Turn from Bernie, Ending Up at Trump”

Retirement Savings Plan for Private Workers Only Partial Solution

Hartford Courant April 30, 2016 The Connecticut House just passed a bill to mandate that employers who don’t have retirement plans for their workers participate in a new state-sponsored plan, essentially a public IRA, which gives workers the option of saving for retirement. The Senate should pass the bill and Gov. Dannel P. Malloy shouldContinue reading “Retirement Savings Plan for Private Workers Only Partial Solution”

Free Trade and Immigration

Huffington Post March 21, 2016 Immigration and free trade agreements remain potent issues in the primaries and no doubt will reemerge in full force in the November election.  But no one seems to be drawing the connection between the two. The Republican candidates have been competing with each other over who is toughest in keepingContinue reading “Free Trade and Immigration”

How Good is TSP–the Federal Employee Retirement Plan?

Huffington Post March 3, 2016 In a recent article, Helaine Olen found something good in Marco Rubio’s campaign: his advocacy that employees without workplace retirement plans be allowed to join the federal employees Thrift Savings Plan. A former financial advice columnist, Olen in her wonderful book Pound Foolish revealingly exposed the hucksters of the financialContinue reading “How Good is TSP–the Federal Employee Retirement Plan?”