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...people who shared their financials with us would have been better off in a pension. And nearly all of them, save possibly Maul, do not have the resources they need to live another 20 years in financial comfort. "It's the biggest scam ever put over on the American people," says Dennis O'Neil, a former human-resources executive who worked for Occidental for 29 years...
...Alternative So what can be done to fix our retirement-savings mess? Most of the proposed fixes to our retirement plans have to do with getting people to save more or invest better. The most popular solution is the so-called automatic 401(k). Under that plan, all workers would be enrolled in 401(k)s when they're eligible. Companies would establish default settings to boost returns and make the portfolios safer as workers near retirement. People who worked for companies that didn't offer 401(k)s would be automatically enrolled in savings accounts. In other words, make...
...Back at the golf course, Shively is not the only former Occidental employee toiling away in his retirement. There are three other former Oxy Pete workers among the staff. All would be better off today - and probably playing the course as opposed to working it - had Occidental stuck to its pension system. Still, Shively says he is not mad at his former employer. And so far, he hasn't found working in retirement to be too bad. Let's hope we all think the same...
Even when the LHC does regain function, the future is far from assured. Paradoxically, if all goes exactly according to plan, scientists could find themselves no better off than before. “Even if it does work, if they turn it on and find nothing new at all—if they don’t find [the hitherto unseen] Higgs Boson, for example, or if they find stuff they expect to discoverer and nothing else, it is unclear what the future of that field is,” said Stubbs...
With the aid of a $4.5 million federal grant, Harvard Medical School and two affiliates are embarking on a project to sequence the genes of 85 patients suffering from autism in the hopes of better understanding the causes of the mysterious disorder...