retirement

Ryan Delaney / WRVO News File Photo

Wall Street profits are up by one-third over the same period last year, the New York state comptroller said.

Comptroller Tom DiNapoli said the gain of $12.3 billion is good news for New Yorkers with retirement accounts invested in the market, as well as the state’s pension fund.

Last week, WRVO said goodbye to General Manager Michael S. Ameigh as he is now -- officially -- retired. We say officially because there had always been talk of retirement, as their often is after many years of dedicated service. We just never though it would actually happen!

Karen DeWitt / WRVO News

Members of a leading senior citizens lobbying group are advocating for a retirement plan in New York that could benefit their children and grandchildren.

The proposal by AARP could help address a big change in employer practices that’s occurred since the group’s members – who are 50 and older – began their working lives. That is the sharp decline in companies that offer pensions, or even 401(k) retirement accounts, leaving younger workers with no opportunities at work to save for their retirement.

TaxCredits.net

A wide range of organizations across New York state are urging Gov. Andrew Cuomo to push for a state-administered workplace retirement savings option, as part of his 2017-2018 state budget proposal next month.

Two-thirds of New York’s small businesses want the state to set up a privately managed retirement savings plan for their employees, according to a study by AARP New York, since many of the companies said they can not afford to offer a plan on their own.

Ellen Abbott / WRVO News

There seems to be plenty of interest from Onondaga County employees in an early retirement program. County officials hope that interest is real, because if not enough employees take advantage of it, there will have to be layoffs.

State pension funds hits another all-time high

Aug 28, 2014
Ryan Delaney / WRVO News File Photo

New York state Comptroller Tom DiNapoli says the state's estimated pension fund value has reached an all-time high, thanks to several factors.

"We've been benefiting obviously from the strong public markets, the stock market's been doing well and that's a significant part of our portfolio," DiNapoli said.

"So at the end of our first quarter -- and our fiscal year starts April 1 -- so at the end of the first quarter, which ended June 30, we were up to $180.7 billion. That is an historic high for us, so we're very, very pleased about the continued growth of the fund."