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Warning: mktime() [function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 14
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 23
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 25
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 27
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 28
May, 2008
Warning: mktime() [
function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
14
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
23
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
25
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
27
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
28
Warning: mktime() [
function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
14
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
23
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
25
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
27
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
28
Warning: mktime() [function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 14
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 23
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 25
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 27
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 28
Monday, May 5th, 2008
The University of Michigan Retirement Research Center just published a Policy Brief by Sylvester Schieber called ‘Beyond the Golden Age of Retirement (link). First of all you should be aware that Schieber is one of the great authorities on benefits. He was on the President’s Commission on Social Security, was a Vice President for Benefits at Watson Wyatt, and his book, ‘Private Pensions’ is probably the authoritative work on that subject. How many books make it to an Eighth Edition (or more - that was just my copy in 2005).
Schieber analyzes the cost to have a hypothetical worker (starting to work at 22, $30,000 per year, continuous employment and salary increases) receive retirement income (combination of private and government benefits) that is 75 percent of preretirement earnings. A top-line summary that does not do justice to his work is that the total cost of the ‘own retirement saving and health insurance’ for someone who wanted to retire at 65 in 2005 would be ‘approximately 14% of their pay’ and that would go to 23.6 percent in 2030. Add government programs to that and the cost goes from 31.3% of pay to 52.4 percent of pay in 2030.
You get the picture. It is going to be impossible to continue with a 19th century definition of when workers should expect to retire (thanks to Count von Bismarck). We need more efforts like those of Senators Kohl, Smith, and Conrad (mentioned here in the last post) so the many who want to stay on the job can do so, and hopefully, over time, bring the median age of retirement up to a more realistic level.
Posted in Pensions, Working Longer | 1 Comment »
Warning: mktime() [
function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
14
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
23
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
25
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
27
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
28
Warning: mktime() [
function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
14
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
23
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
25
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
27
Warning: date() [
function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in
/home/boomer00/public_html/wp-includes/functions.php on line
28
Warning: mktime() [function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 14
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 23
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 25
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 27
Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/boomer00/public_html/wp-includes/functions.php on line 28
Friday, May 2nd, 2008
Thanks to the National Council on Aging for alerting us to the fact that Senators Herb Kohl, Kent Conrad, and Gordon Smith are introducing legislation to help older workers stay on the job. While this legislation could help older workers, it is also critical for the nation, as the senators recognize the coming shortage of workers (link). The legislation appears to address a number of issues that discourage older workers from staying on the job, or phasing into retirement with reduced hours.
Most of you probably picked up this notice through the NCOA. However, if only a few are added to the awareness of this action, it is worthwhile. We all bemoan the inaction in DC. Here are some senators that really appear to have put forward a very positive series of recommendations. We all make an effort to support them!
Posted in Working Longer | No Comments »
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