Retirement

In-depth discussion on long-term financial goals with a qualified financial advisor would help most Americans save enough for retirement, but most prefer not to do it, according to a new global report from HSBC, The Future of Retirement: The Power of Planning.

Most pension plans will see their funded status drop significantly in 2011, with plan sponsors facing sharply higher contributions, according to an analysis by Mercer actuaries.

Rival deficit-cutting plans advanced by Republicans and Democrats on Congress' secretive supercommittee would both mean smaller-than-expected cost of living benefit increases for veterans and federal retirees as well as Social Security recipients and bump up taxes for some individuals and families, according to officials familiar with the recommendations.

The richest 1 percent of Americans have been getting far richer over the last three decades while the middle class and poor have seen their after-tax household income only crawl up in comparison, according to a government study.

Wisconsin state workers will not receive salary increases during the next two years under the first pay plan put forward by Gov. Scott Walker's administration under a law that no longer requires the state to negotiate wages with unions.

A new report by the Transamerica Center for Retirement Studies has found that despite the gloomy retirement outlook among many American workers, one in five expect to retire before age 65.