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Longevity annuities can provide lower-cost alternatives to fixed income annuities while also appealing to some public retirement plan sponsors who might want to cut their longevity risk exposure.
Kraft Heinz is eliminating some benefits and will offer medical and prescription coverage through the individual marketplace for retirees age 65 and older.
The pension-funding crisis undermining the stability of Illinois and Chicago is rippling through hundreds of smaller governments, squeezing budgets as officials prop up teetering police and fire retirement funds.
In evaluating public sector pension plans, NIRS said, the study relied on private sector pension data, rather than public sector data, to do soand this invalidated its findings.
About 52 percent of U.S. mutual funds that focus on municipal debt hold Puerto Rico securities, and a crisis there could affect retirement portfolios in the U.S.