Illinois is seeing steady growth in worker participation despite the economic mess brought on by the coronavirus. In March, Illinois Secure Choice had 60,000 funded accounts, with $17.2 million in assets. In November, those numbers had climbed to 77,000 and $42.8 million. “To me, that underscores the value of these programs and the importance of […]
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Women are overrepresented in industries experiencing the highest job loss, according to a recent report published by the Y.W.C.A. U.S.A. Latina, Black and Asian-American women have been hit hardest, the report found. Many entered the pandemic earning less, and they have experienced higher jobless rates in the downturn, said a co-author of the report, Victoria […]
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It’s an argument that other investors are ready to hear, not just because of the climate threat, but also because the fossil fuel industry has been the worst-performing sector of the American economy for many years now. Its problems are twofold: It faces a sprawling resistance movement, rooted in the undeniable fact that its products […]
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Pension funds, she added, are conservative investors that have been reluctant to make decisions seen as political, “so for a major investor to say we’re getting out of this business sends a very strong market signal that climate change is a financial risk.” New York’s fund, the New York State Common Retirement Fund, has historically […]
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When Dray Farley was 15, he watched a video his favorite gamer had posted on YouTube. But it wasn’t about Call of Duty. “It was how to get rich in 22 years, and the general math and concept of compound interest, the snowball effect, and how eventually your gains are making gains,” Mr. Farley said. […]
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WASHINGTON — President Trump issued an executive order Thursday barring Americans from investing in a list of companies with ties to the Chinese military, arguing that such investments pose a risk to national security. The order applies to 31 Chinese companies previously identified by the Defense Department as having links to China’s military. The list […]
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In early 2000, Michael and Lynn Terry started a business selling horse trailers that were lighter than their competitors’ and customized to each client’s needs. Nearly two decades later, their company, Cimarron Trailers, with tens of millions of dollars in sales, employed over 130 people in Chickasha, Okla., and their trailers were sold at 30 […]
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Ben Meng got the job of chief investment officer of CalPERS by convincing the trustees of the nation’s largest public pension fund that he could hit their target of a 7 percent annual return on investment by directing more of the fund’s billions into private equity. Now, Mr. Meng is gone — only a year […]
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When someone retires, three substantial changes take place, said Ken Dychtwald, psychologist, gerontologist and founder and chief executive of Age Wave, a consulting and research company. “They struggle with their identity, relationships and activity,” he said. “Some people feel unsettled, anxious or even bored, but eventually they realize that relationships, wellness and purpose really matter […]
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Shawn McCadden began working for his father’s handyman business in Massachusetts in 1970, when he was 11. At 32, he started his own building company. Just three years later, his back told him it was time to find a new line of work. Mr. McCadden, now 61, has sciatica. Both of his legs get weak […]
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The protest movement across the United States this summer has prompted a national conversation about ways to correct the acute economic inequities facing Black and other Americans of color. Those inequities don’t end when people retire. Racial gaps in retirement security were large before the coronavirus struck, and the economic disruptions caused by the pandemic […]
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WASHINGTON — The U.S. economy struggled to shake off the last recession, with historically slow growth and a labor market that took more than six years to recover its earlier employment levels. A big part of the reason: state and local governments, which cut spending and fired workers amid widespread budget shortfalls. The same dynamic […]
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LONDON — Laurence D. Fink presents himself as the vanguard of a progressive form of capitalism in which profits are not everything: The enlightened money is supposed to press for environmental and social protection. As the chief executive of BlackRock, the world’s largest investment management company, Mr. Fink oversees more than $7 trillion. He has […]
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After years of declines in revenue and print circulation, the McClatchy Company, one of the largest and most respected news publishers in the country, announced on Sunday that it expected to be bought by Chatham Asset Management, a New Jersey hedge fund, at the conclusion of a bankruptcy auction. The announcement, which signals an end […]
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John C. Bogle, founder of the Vanguard Group, had a mantra throughout his long career in the mutual fund industry: “Costs matter.” The amount of fees you pay to a third party to manage your money eats into your retirement savings. That has never been more important, although it is probably not foremost on your […]
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