retirement

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Ousted GM Boss Gets $20M Retirement Payout

(Newser) - If Rick Wagoner is upset about being forced out of his job as GM’s CEO, his $20 million retirement package should provide some consolation, ABC News reports. Though Treasury rules prevent Wagoner from collecting severance pay, the ousted exec is still eligible for an “Executive Retirement Plan” and...

Barbara Walters Calling It Quits, Friends Say

Veteran is 'burned out,' doesn't want to extend ABC deal past summer

(Newser) - Barbara Walters intends to retire when her contract is up this summer, sources tell the National Enquirer. Though ABC would apparently like to keep the veteran interviewer, Walters, 79, is “burned out,” and wants to spend more time with her boyfriend. “I don’t want to be...

ABC's Donaldson to Retire Next Week

Bellowing newscaster is 'sweetheart underneath'

(Newser) - Sam Donaldson is calling it quits after a 41-year career distinguished by a booming voice and tough demeanor, Howard Kurtz reports in the Washington Post. “I guess it’ll be on my tombstone,” Donaldson muses. “He yelled at Ronald Reagan.” Donaldson became famous for shouting questions...

Favre Will Retire&mdash;Again
 Favre Will Retire—Again 
Feb 11, 2009 9:06 AM CST

Favre Will Retire—Again

(Newser) - Brett Favre has quietly instructed his agent to tell the Jets that he plans to retire, ESPN reports. After last year's tearful train wreck, Favre is skipping the farewell press conference, but he did send an email saying he has no regrets. “My time with the Jets was short,...

Colts Coach Dungy Calls It Quits

(Newser) - Tony Dungy bid an emotional farewell to football today as the Indianapolis Colts head coach announced his retirement, the Indianapolis Star reports. “I’ve been tremendously blessed,’’ said Dungy, 53. "It’s been fantastic.” The first black coach to win a Super Bowl, Dungy owns...

Ohio Sen. Voinovich Won't Run in 2010

Empty GOP seat would give Dems chance to pad majority

(Newser) - Two-term GOP Sen. George Voinovich will retire in 2010 rather than seek reelection, the AP reports, raising Democrats’ hopes to snag an additional seat in the battleground state of Ohio. Voinovich's announcement, expected today, comes as two other Republican senators in swing states have said they won't run again. Just...

GOP Stalwart Bond Will Leave Senate After 2010

Open Missouri seat sure to invite a contest

(Newser) - The GOP just can’t catch a break. Kit Bond, another senior Republican senator from a swing state, announced his retirement today, Politico reports. Bond joins Florida’s Mel Martinez, Kansas’ Sam Brownback, and, likely, Texas’ Kay Bailey Hutchison in a clutch of GOP Senate retirements. His decision not to...

401(k) Decay Spurs Calls for Change
401(k) Decay Spurs Calls
for Change
Jan 8, 2009 10:17 AM CST

401(k) Decay Spurs Calls for Change

Critics question if plans are robust enough to survive tough times

(Newser) - Americans depending on 401(k) plans for their retirement have taken a hammering as the stock market plunged during the past year, prompting critics to question the shortcomings of the system, reports the Wall Street Journal. Some 50 million American have 401(k)s, and Congress is weighing a revamp. "It's so...

Maddux Will Hang 'Em Up: 'I'm Getting Too Old'

(Newser) - Four-time Cy Young winner Greg Maddux confirmed today that his 355th win was his last, the Las Vegas Sun reports. “I’m 42, and I have two kids and a wife,” said the eight-time all-star, who finished his 23-year career with a stint on the Los Angeles Dodgers....

Don't Take the 'Gold' Out of Americans' Golden Years

And why is retirement reform taboo?

(Newser) - Snow White’s dwarf pals are so happy to go to work that they sing about it, “and they’re 71 years old,” writes Irwin Stelzer of the Weekly Standard. “So why do so many of us less vertically disadvantaged worry about” extending the retirement age? Average...

Empty Nesters Fly High
 Empty Nesters 
 Fly High 
Dec 4, 2008 2:01 PM CST

Empty Nesters Fly High

(Newser) - With their children grown and gone, couples find their love lives more satisfying, new research reveals. Some of the 123 women in a long-term study switched partners and some remarried, but regardless, they were happier in their relationships after the child-rearing was complete. Marriages generally improve with time, and the...

Retirement Communities Seek Younger Residents

Housing bust leads to 'age desegregaton'

(Newser) - A rash of vacancies caused by the ugly housing market has prompted many retirement communities to consider lowering, or even eliminating, age restrictions, the Wall Street Journal reports. Many of the communities enjoy lower taxes, and child- and teen-free living appeals to some seniors. But what's being call "age...

401(k) Matches Fall Victim to Downturn

Cost-cutting efforts increasingly extend to pricey employee benefit

(Newser) - Shrinking 401(k) accounts may soon seem like a bit of a luxury as more and more companies eliminate matching contributions to the retirement accounts, reports BusinessWeek. Some 2% of firms in a recent survey said they had already cut out the match, and another 4% said they’ll drop it...

Hawking To Retire From Cambridge Post

(Newser) - Stephen Hawking will retire from his chair at Cambridge University at the end of this academic year, the Telegraph reports. But the esteemed physicist will continue working at the college in an emeritus position. Cambridge requires profs to step down when they reach 67, and Hawking’s birthday is in...

Lance: I'll Only Ride in 'Serene' Tour

(Newser) - Lance Armstrong will race in the three-week Giro d’Italia for the first time next year, but a return visit to the Tour de France is in doubt, the Telegraph reports. Armstrong, recently out of retirement, has historically clashed with Tour management, and his team was banned from this year’...

Sinking 401(k)s Raise Debate on How to Save

Accounts tumble by up to 11%, but backers still love them

(Newser) - Tumbling stock markets have cracked open the piggy bank that many Americans use to store retirement savings—401(k) accounts—sparking fresh debate about how best to save money, the Washington Post reports. Supporters argue that 401(k)s offer bigger rewards than traditional pensions, which are less exposed to market turbulence. But...

Tarzan's Old Pal Enjoys His Retirement

At 76, Tarzan co-star keeping busy with painting, TV

(Newser) - Cheeta the chimp is enjoying a fairly humdrum retirement after his glittering showbiz career, Entertainment Weekly reports. Cheeta, at 76 the world's oldest domesticated simian, was plucked from the jungles of Africa as a baby and starred in the '30s Tarzan movies. An "autobiography"—more of a Hollywood...

Ford CFO Says He'll Step Down
Ford CFO
Says He'll
Step Down
Oct 10, 2008 12:41 PM CDT

Ford CFO Says He'll Step Down

Longtime exec retires after grabbing timely loan ahead of crisis

(Newser) - Ford CFO Don Leclair will retire at the end of the month after 32 years with the company, the struggling automaker said today. Leclair has drawn praise for snagging $25 billion in loans for the company before the credit markets dried up, a move that may ensure Ford’s survival...

As Stocks Sink, New Cash Cows Emerge

Alpacas, coins, comic books; a stampede to alternative investments

(Newser) - With stocks tanking, 401(k)s plummeting, and the market’s usual safe haven—real estate—at the heart of the current crisis, investors are seeking refuge in unusual investments—everything from parking spaces to comic books to alpacas, the Wall Street Journal reports. A growing number of retirees are taking individual...

Retirees Hit Hard by Markets
 Retirees Hit Hard by Markets 
Sep 23, 2008 10:43 AM CDT

Retirees Hit Hard by Markets

Their money is in riskier investments these days

(Newser) - Among those hardest hit by the financial crisis are retirees, and they have less chance to recover than their younger counterparts, the New York Times reports. As companies have abandoned fixed pensions for 410(k)s, retirees can lose large percentages of their wealth in a short period. And low-risk investments, like...

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