News
Peter St. Onge and Nicole Huyer: Shoring up Social Security with a big tax hike? Bad idea
12+ hour, 8+ min ago (676+ words) The nation’s largest retirement program will reach a cliff in six years unless Congress acts. Social Security is going bankrupt, facing a structural imbalance between promised benefits and dedicated revenues. The 2026 Social Security Administration Trustees’ report predicts the Old-Age and…...
Letter to the editor: Fix the teacher pension problem
4+ day, 17+ hour ago (206+ words) Regarding the article “Amid $41B shortfall, Pennsylvania teachers’ pension cites private equity as biggest drag” (July 1, TribLive): I’m ready to throw up. This has been in the making for over 30 years starting with that 25% pension increase for teachers and judges. Around…...
Legal battle over fixing Allegheny County pension fund crisis unfolds in court
1+ week, 6+ day ago (471+ words) A legal battle over the future of Allegheny County’s pension fund unfolded in court Tuesday, as a lawyer representing the district attorney’s office argued the county and its retirement board have failed to keep the account sufficiently healthy. “It has…...
Letter to the editor: Respect seniors and fix Social Security
2+ week, 2+ day ago (265+ words) Once again our lying politicians have bamboozled us. Social Security was called a safety net for seniors. But there was so much money building up they were thinking of ways they could get their hands on it. If left alone,…...
Allison Schrager: Don’t rely on the bank of mom and dad
3+ week, 15+ hour ago (524+ words) In today’s America, one of the rites of passage that marks the transition to full adulthood is paying your own phone bill. By this standard, many people — even those well into middle age — are stuck in an extended adolescence. A…...
Letter to the editor: McCormick, Fetterman should act on Social Security
3+ week, 2+ day ago (169+ words) It’s time Pennsylvania Sens. Dave McCormick and John Fetterman claim the legacy of the late Sen. John Heinz. In 1983 Heinz, a Republican advocate for the elderly, was tapped to sit on a commission to address looming shortages in Social Security....
Fixing Social Security crisis ‘is not going to be pleasant,’ Pa. congressman says
3+ week, 2+ day ago (892+ words) As a member of the powerful House Ways and Means Committee, U.S. Rep. Mike Kelly could soon find himself on the front lines of grappling with a projected shortfall facing the nation’s Social Security retirement program. Ways and Means, the chief…...
Michael Hiltzik: Here’s how Musk’s SpaceX IPO could crash your 401(k)
1+ mon, 17+ hour ago (1051+ words) Fidelity Investments, the big brokerage and mutual fund firm, long has had a rule protecting its small retail clients from plunging into initial public stock offerings while the shares were still subject to IPO-related hype. In most cases, Fidelity would…...
Social Security’s retirement trust fund faces funding shortfall one year earlier than expected
1+ mon, 4+ day ago (432+ words) WASHINGTON — Social Security’s retirement trust fund is projected to face a funding shortfall in 2032, a year earlier than last year’s projections, according to an annual report released Tuesday, while Medicare’s hospital insurance trust fund will be unable to pay full…...
Fiscal watchdog warns that potential Social Security cuts would create ‘absolute crisis’
1+ mon, 1+ week ago (681+ words) Maya MacGuineas has been calling for Social Security reform for decades, warning policymakers and everyday Americans that retirement benefits would be slashed if Congress didn’t act to shore up the program’s finances. Her warnings haven’t been abstract. For years, MacGuineas…...