News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Lehmans

Akron General

Meaden & Moore


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


The view from Main Street on retirement
Many in our region depending on company pension plans are worried
by WKSU's VIVIAN GOODMAN


Reporter
Vivian Goodman
 
You might want to sit down before you read that 401 K quarterly report. Retirement earnings are plummeting, right along with the Dow Industrials. According to testimony last week before a House panel, pension plans have lost as much as two trillion dollars in the past 15 months. WKSU's Vivian Goodman reports that's forced many Northeast Ohioans to re-think their retirement plans.
Click to Listen

Other options:
Windows Media / MP3 Download (4:08)


(Click image for larger view.)

Listener Comments:

According to Case's Professor Mahnic, the PBGC only insures up to the maximum of 24,000 dollars. So if you have a 50,000 dollar pension from let’s say B.F.Goodrich and it goes bankrupt, your pension income would drop to the maximum that the federal insurance company’s going to pay.


Posted by: Vivian (Kent) on October 16, 2008 3:02PM
There is always the PBGC to help with pensions - which ironically and thankfully, even in the market downturn, will emerge as the retirement stabilizer. Just ask anyone with a 401(k).


Posted by: BlueCollarDollar.com (http://bluecollardollar.com) on October 16, 2008 8:45AM
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook





Stories with Recent Comments

Portman predicts McDonald's confirmation, but says it won't be easy
I sent the following note to Senator Blumenthal after reading commentary from yesterday's hearing: Senator, You certainly have the right to ask Mr. McDonald que...

Seven minutes changed everything, but what changed Ashford Thompson?
He shot the guy four times in the head. I have never been that drunk or mad, and I have been through it. Shoot a guy once is bad, maybe a mistake, shoot a guy f...

First cricket farm in the U.S. opens in Youngstown
I am interested in cricket flour to replace soy flour in a low carbohydrate diet. As soon as you have cricket flour available for the average person, please le...

New process starts digesting sludge in Wooster
Awesome! When do our sewage rates decrease accordingly?

Akron's Chapel Hill Mall in foreclosure
Not a surprise. Between the shoplifting, gangs and violence that goes on up there it is no wonder that no one feels safe to shop at Chapel Hill. They have sca...

Ohio launches investigation into at least one Concept charter school
I worked at Noble Academy Cleveland as admin assistant and enrolment coordinator for 6 years, I know this is so valid and true and can provide staff names and p...

Crisis looms in filling aviation industry jobs in Ohio and the nation
I listened to this story yesterday morning on the radio and just want to add this comment. My son went to school to train as an air traffic controller, and gra...

Cuyahoga Valley National Park considers fire to fight invasives
I'm for the controlled burn. There are not enough people (myself included) who volunteer for the removal of invasive plant species. Therefore, another solution ...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University