By Ken Sweet; The Associated Press ~ Jun 10, 2015
NEW YORK (AP) — A big change is happening inside your wallet.
U.S. banks, tired of spending billions each year to pay back fleeced consumers, are in the process of replacing tens of millions of old magnetic strip credit and debit cards with new cards that are equipped with computer chips that store account data more securely.
By Brian Vnak; MarketWatch ~ Jun 10, 2015
Some people’s retirement dreams consist of nothing more than warm weather, a cerveza on a beach, and a steady stream of best sellers to read. But for others, surprising as it may be, staying in the workforce on a part-time basis is a critical component of their retirement happiness.
By Rep. John Larson (D-Conn.) ; The Hill ~ Jun 10, 2015
It seems every time we talk about the long-term future of Social Security, many in Washington start clamoring to raise the retirement age or propose other ways to trim Social Security’s modest benefits. Those calling for cuts are missing the dire state of retirement security for the typical American. Traditional pensions have become a thing of the past, and stagnant wages are making it harder and harder to put aside savings. For the two-thirds of retirees who rely on Social Security for a majority of their income, there is not a Social Security crisis, there is a retirement crisis. That is why we must preserve and enhance the one program Americans have always been able to count on.
By Sarah Thomas; Light Reading ~ Jun 09, 2015
CHICAGO — Big Telecom Event — AT&T has been public with its bold proclamation that it will virtualize and software-control 75% of its network by 2020, transforming a total of 200 network functions. And, according to the man helping to lead the charge, it’s well on the way to virtualizing the first 5% this year alone.
Keynoting here at BTE Tuesday, Andre Fuetsch, AT&T Inc. (NYSE: T)’s senior vice president of architecture and design, touched on three of the functions the company has already virtualized of the 10 it will complete in 2015. (See BTE 2015: 5 Qs for AT&T’s Andre Fuetsch and AT&T Touts SDN Push, Seeks Talent.)
By Andrew Berg; Wireless Week ~ Jun 02, 2015
AT&T is reportedly ready to agree to conditions set by the FCC in order to get approval for its $49 billion acquisition of DirecTV.
According to the Washington Post, AT&T would agree to abide by a good portion of the FCC’s new Open Internet rules, which are set to go into effect June 12. That would mean AT&T would have to submit to the FCC’s new rules forbidding blocking, throttling or paid prioritization. The report says that AT&T is also willing to offer a standalone Internet plan of at least 25 Mbps for $29.95.
By Anne Tergesen; The Wall Street Journal ~ May 31, 2015
Want to spend more than 4% of your retirement savings annually without putting yourself at great risk?
It might be possible with a “dynamic withdrawal strategy.” This method of tapping one’s nest egg allows retirees at times to exceed the 4% annual withdrawal rate long considered a safe level of spending in later life.
By Paul Demko; Politico ~ May 30, 2015
The cost of Obamacare could rise for millions of Americans next year, with one insurer proposing a 50 percent hike in premiums, fueling the controversy about just how “affordable” the Affordable Care Act really is.
The eye-popping 50 percent hike by New Mexico insurer Blue Cross Blue Shield is an outlier, and state officials may not allow it to go through. But health insurance experts are predicting that premiums will rise more significantly in 2016 than in the first two years of Obamacare exchange coverage. In 2015, for example, premiums increased by an average of 5.4 percent, according to PwC’s Health Research Institute.
By Richard Leong; Reuters ~ May 28, 2015
U.S. corporate pension funds turned less solvent in 2014 versus 2013, approaching risky levels based on regulations, as their liabilities ballooned by more than $180 billion, according to UBS analysts.
The solvency ratio of retirement schemes among Russell 1000 companies fell to 81 percent last year from 87 percent in 2013. Unfunded liabilities of these pensions grew to $426 billion or about 2.5 percent of nominal gross domestic product, they said.
From Simon Moore; Forbes ~ May 28, 2015
In two recent cases the US Supreme Court has ruled on issues of employee investments that may improve investment options for employees. This month, in Tibble vs. Edison International the Court wrote an important opinion that is it not sufficient for employers to just set up a 401(k) with a reasonable set of investment options for employees, they must also continue to monitor the plan for any changes.
By Peter Sullivan; The Hill ~ May 22, 2015
California’s ObamaCare exchange is announcing a cap on patients’ costs for high-priced specialty drugs, the first state in the country to do so.
The announcement, which comes after a unanimous vote by the exchange’s board Thursday, would cap the cost for most enrollees on the insurance exchange at $250 per prescription per month
