The Austin Police Department’s retirement system is in considerable trouble, with actuaries predicting that the fund will run out of money within 50 years unless the city and the officers who are members of the system reach an agreement to change current contribution levels, benefits and/or try a more novel approach.
Just 11 percent of private sector workers now have defined benefit retirement plans, which pay amounts based on formulas including service time and salary rates as do the federal FERS and CSRS systems, a report has found.
Wealth management firms are rushing to grow their environmental, social and governance investing capabilities, introducing high-profile marketing and analytical tools aimed at both advisors and their customers.