Category Archives: Economy

How do pension payments work?

Have a great link you’d like me to review? Drop me an email. Bloggers: you can install a Larwyn’s Linx blog widget!

Nation

A Fling With the Welfare State: Emerie
We Are The Undefeated: Why Sarah Palin should run: Hayward
Opposition to McConnell plan grows among GOP senators: Hill

House Freshmen not on-board for any deals?: RS
Partisan Justice Under Eric Holder: Federale
Ex-Rezko Partner Told Feds Of Payments To Obama: AdvIn

Sheriff Joe Arpaio Punks ICE HSI: Federale
Perry: I’m feeling a call: Hot Air
Every Dem voted against lifting debt ceiling in ’06: GWP

Economy

Can’t Buy Love? Try Obama’s Corporate Dating Website: Dewey
California’s Pay Day Loan: BG
Scott praises Cantor’s walkout from debt negotiations: Hill

GOP Govs Prove Conservative Economic Principles Work: GWP
Unemployment uh-oh: 9.2% may be the low-water mark: IHTM
True origins of financial crisis: Power Line

Climate & Energy

Globaloney: The Statist Push Continues: Blumer
The War on Copper: Exam
Why Nothing Is “Shovel Ready” Anymore: Mead

Media

Review: Left Turn: How Liberal Media Bias Distorts the American Mind: Power Line
Marco Rubio schools CBS’ Bob Schieffer: GWP
‘Murdoch Hacking Scandal’ vs. NY Times National Security Leaks: TAB

The Slow, Painful Coming Death Of The Independent, Conservative Blogosphere: RWN
How Network News Helped Bring About the Crash: Klavan
Hollywood Hasn’t Lost ‘Hope’: Malkin

Big Demand For The Undefeated Drives Broader Release: Riehl
Gray Lady Gets Yet Another Case of Depression Lust: Driscoll
Keith Olbermann: The Lost Months: MB

World

Al-Qaeda Is Down but Not Out: Foundry
Cain: Voters Should Have Right To Prevent Mosque Construction If Community Opposes It: WZ
Obama Accused Of Crimes Against Humanity Over Bin Laden Killing At International Criminal Court: WZ

Islamic Teacher: Bring Back Slave Girls!: Big Peace
Trichet Repeats Nuclear Threat to Reject Greek Bonds as Collateral; Verbal Discipline or Big Bluff?: Mish
Indonesia: Veiled teen girls send mock bomb to police officer: JihadWatch

Sci-Tech

Make It So: Hands-On With Official Star Trek iPad App: Wired
Orphiro’s electric motorcycle: like a Harley, just not obnoxiously loud: Engadget
A beginner’s guide to telecom jargon: CNet

Cornucopia

Celebutards from 50 of our 57 states: MOTUS
Casey Anthony: Spokeswoman for Planned Parenthood: RWN
Sunken 19th Century Schooner Found Intact In Lake Ontario: Irish Weather

Image: The Looking Spoon
Sponsored by: URGENT: Tell your Congressman to vote YES on the ‘Cut Cap Balance’ Act

QOTD: “When Roosevelt signed Social Security into law, it was meant to start coverage at age 65 at a time when 58 was the average life span of male Americans. (Roosevelt himself died at 63 ten years later.) When President Johnson signed Medicare, life spans were still well below today’s standards, and most major medical breakthroughs were still in the future. (Johnson also would die in his 60s.) Neither imagined a world in which people routinely lived into their 80s and 90s, with knee replacements and heart transplants and home dialysis machines. Roosevelt opposed public employee unions, whose pension demands and early retirements are now driving some of our states and cities into bankruptcy. It’s easier to think of goods as rights when the costs are low, and they therefore take little from others. It’s when the costs rise—as in medical treatments—that the political trade-offs rise, too.” –Noemie Emery

“There have been many significant accomplishments on the operational and financial front to date this year,” Kloet said in a release before stock markets opened Friday.

“Among the successes in this past quarter was renewed momentum in our listings business. On a combined basis, new listings on Toronto Stock Exchange and TSX Venture Exchange were up 33 per cent and the value of new equity financings on TSX Venture Exchange increased 84 per cent. We are also proud that Toronto Stock Exchange reached over 200 exchange traded products listed in June.

“We continue to see strong growth in derivatives as volumes on the Montreal Exchange reached another new quarterly record with 16.3 million contracts traded.”

TMX Group is in the midst of an intense takeover battle that recently saw one of it suitors, the London Stock Exchange Group, drop out of the competition after the deal failed to gain enough shareholder support.

The remaining bidder, Maple Group Acquisition Corp., a group of financial institutions and pension funds said Wednesday it will give investors more time to decide whether they want to tender their shares under the $3.8-billion offer.

It will give TMX Group shareholders until Sept. 30 to tender their shares, extending the deadline initially set for next Monday.

Maple said that during the extension period it will continue trying to receive the required approvals for the acquisition from securities regulators and the federal Competition Bureau.

Maple has said previously that it expected to receive approvals in the fall.

The offer is to acquire between 70 and 80 per cent of the shares of TMX Group — part of an integrated acquisition transaction to acquire 100 per cent of TMX shares.

The TMX has said it will continue its expansion plan, whether it comes to an agreement with Maple, or moves forward on its own.

Also on Wednesday, TMX Group announced the purchase of Atrium Network, a provider of capital markets data in Europe and North America.

]

For more infomation about Pensions pop by the authurs blog


Previously published in Examiner
Part 4 of the applying for disability series

The following is information for any Montreal resident who is contemplating applying for the Quebec Disability Pension Plan.

This article is based on the rules and regulations concerning applying for disability in the Province of Quebec. You are advised to check with your state or province to see what you need to know about your own system.

The Quebec disability pension is reserved for people who have worked and have become disabled. It is not set up for people who have never worked before. Other programs are available for such people.

To qualify for the Quebec Disability Pension

You must be under the age of 65 and have contributed to the Quebec Pension Plan while you were healthy and able to work.

There are two plans that you may apply for depending on your situation:

The disability pension
The pension for a disabled person's child

Who can qualify for a Quebec Disability Pension?

You are considered to be disabled and eligible for the disability pension if you are between age 60 and 65 and you can no longer do the type of work that you were doing before you became disabled (subject to review and approval by the Regie)

Or

You are younger than 60 years old and your disability is severe enough that you cannot find gainful employment and maintain it on a regular basis. This disability is expected to last indefinitely.

How is the Quebec Disability Pension Paid?

Once your application for disability has been approved, you will receive your first payment four months afterward. For example, if the application was approved in January, you will receive your first payment in May. The last payment will be the month of your 65th birthday. You will also receive any retroactive payments due to you.

Each year the pension will increase according to the cost of living, however you will be expected to pay income tax upon the monies you receive

For more information about the Quebec Pension Plan:

By Internet:
www.rrq.gouv.qc.ca

By Phone:
Region of Quebec: 418-643-5185
Montreal: 514-873-2433
Toll free number: 1-800-463-5185

TTY – Service for the hearing impaired
1-800-603-3540

How do pension payments work?

Have a great link you’d like me to review? Drop me an email. Bloggers: you can install a Larwyn’s Linx blog widget!

Nation

A Fling With the Welfare State: Emerie
We Are The Undefeated: Why Sarah Palin should run: Hayward
Opposition to McConnell plan grows among GOP senators: Hill

House Freshmen not on-board for any deals?: RS
Partisan Justice Under Eric Holder: Federale
Ex-Rezko Partner Told Feds Of Payments To Obama: AdvIn

Sheriff Joe Arpaio Punks ICE HSI: Federale
Perry: I’m feeling a call: Hot Air
Every Dem voted against lifting debt ceiling in ’06: GWP

Economy

Can’t Buy Love? Try Obama’s Corporate Dating Website: Dewey
California’s Pay Day Loan: BG
Scott praises Cantor’s walkout from debt negotiations: Hill

GOP Govs Prove Conservative Economic Principles Work: GWP
Unemployment uh-oh: 9.2% may be the low-water mark: IHTM
True origins of financial crisis: Power Line

Climate & Energy

Globaloney: The Statist Push Continues: Blumer
The War on Copper: Exam
Why Nothing Is “Shovel Ready” Anymore: Mead

Media

Review: Left Turn: How Liberal Media Bias Distorts the American Mind: Power Line
Marco Rubio schools CBS’ Bob Schieffer: GWP
‘Murdoch Hacking Scandal’ vs. NY Times National Security Leaks: TAB

The Slow, Painful Coming Death Of The Independent, Conservative Blogosphere: RWN
How Network News Helped Bring About the Crash: Klavan
Hollywood Hasn’t Lost ‘Hope’: Malkin

Big Demand For The Undefeated Drives Broader Release: Riehl
Gray Lady Gets Yet Another Case of Depression Lust: Driscoll
Keith Olbermann: The Lost Months: MB

World

Al-Qaeda Is Down but Not Out: Foundry
Cain: Voters Should Have Right To Prevent Mosque Construction If Community Opposes It: WZ
Obama Accused Of Crimes Against Humanity Over Bin Laden Killing At International Criminal Court: WZ

Islamic Teacher: Bring Back Slave Girls!: Big Peace
Trichet Repeats Nuclear Threat to Reject Greek Bonds as Collateral; Verbal Discipline or Big Bluff?: Mish
Indonesia: Veiled teen girls send mock bomb to police officer: JihadWatch

Sci-Tech

Make It So: Hands-On With Official Star Trek iPad App: Wired
Orphiro’s electric motorcycle: like a Harley, just not obnoxiously loud: Engadget
A beginner’s guide to telecom jargon: CNet

Cornucopia

Celebutards from 50 of our 57 states: MOTUS
Casey Anthony: Spokeswoman for Planned Parenthood: RWN
Sunken 19th Century Schooner Found Intact In Lake Ontario: Irish Weather

Image: The Looking Spoon
Sponsored by: URGENT: Tell your Congressman to vote YES on the ‘Cut Cap Balance’ Act

QOTD: “When Roosevelt signed Social Security into law, it was meant to start coverage at age 65 at a time when 58 was the average life span of male Americans. (Roosevelt himself died at 63 ten years later.) When President Johnson signed Medicare, life spans were still well below today’s standards, and most major medical breakthroughs were still in the future. (Johnson also would die in his 60s.) Neither imagined a world in which people routinely lived into their 80s and 90s, with knee replacements and heart transplants and home dialysis machines. Roosevelt opposed public employee unions, whose pension demands and early retirements are now driving some of our states and cities into bankruptcy. It’s easier to think of goods as rights when the costs are low, and they therefore take little from others. It’s when the costs rise—as in medical treatments—that the political trade-offs rise, too.” –Noemie Emery

“There have been many significant accomplishments on the operational and financial front to date this year,” Kloet said in a release before stock markets opened Friday.

“Among the successes in this past quarter was renewed momentum in our listings business. On a combined basis, new listings on Toronto Stock Exchange and TSX Venture Exchange were up 33 per cent and the value of new equity financings on TSX Venture Exchange increased 84 per cent. We are also proud that Toronto Stock Exchange reached over 200 exchange traded products listed in June.

“We continue to see strong growth in derivatives as volumes on the Montreal Exchange reached another new quarterly record with 16.3 million contracts traded.”

TMX Group is in the midst of an intense takeover battle that recently saw one of it suitors, the London Stock Exchange Group, drop out of the competition after the deal failed to gain enough shareholder support.

The remaining bidder, Maple Group Acquisition Corp., a group of financial institutions and pension funds said Wednesday it will give investors more time to decide whether they want to tender their shares under the $3.8-billion offer.

It will give TMX Group shareholders until Sept. 30 to tender their shares, extending the deadline initially set for next Monday.

Maple said that during the extension period it will continue trying to receive the required approvals for the acquisition from securities regulators and the federal Competition Bureau.

Maple has said previously that it expected to receive approvals in the fall.

The offer is to acquire between 70 and 80 per cent of the shares of TMX Group — part of an integrated acquisition transaction to acquire 100 per cent of TMX shares.

The TMX has said it will continue its expansion plan, whether it comes to an agreement with Maple, or moves forward on its own.

Also on Wednesday, TMX Group announced the purchase of Atrium Network, a provider of capital markets data in Europe and North America.

]

For more infomation about Pensions pop by the authurs blog


Can you really increase your IRA income in 60 days? Yes! Today you will learn a concept that can double and sometimes triple your IRA income and other retirement income. It only requires a shift in your thinking and shift in how you invest your hard earned retirement money.

Traditional Retirement Thinking and How It Needs To Change

Traditionally your IRA income is generated in two ways but keep in mind we are only talking about money from your investments. Increasing your pension income or social security checks is not possible. You could possibly work out a way to pay fewer taxes on this income but actually increasing the size of the check is a lost cause.

Your investment money can be increased and is pretty simple once you have a good working knowledge of the concept. In traditional retirement planning you either sell investments, collect interest for IRA income, or a combination of both. Your income is based on a percentage of your assets. William P. Bengen, in a paper published in 1994 stated that 4% of your assets is the best number to use when planning for retirement. This is a good way plan your retirement because you investments should grow more that the 4% on average. You take out your living expenses and invest the extra so that next year your income can increase to keep up with inflation.

Traditional planning doesn’t always work. What if the market is down or even worse flat for several years in a row? You will be taking income from your principal! And every dollar you take out for income will greatly hinder your chances for a recovery. Remember a 20% percent loss has to come up well over 20% to recover your principal. A 50% loss has to come up 100% to recover your principal! Take a look at this chart from Stancorp Advisors for a better idea on how investment losses hurt your portfolio more than you may think!

Traditional planning assumes you want to leave a lump sum to your kids, grandkids, or other charitable group. You have to keep you principal intact for this to happen. Why not use a life insurance policy to provide for your heirs and use some of your principal to cover your expenses? If used some of your principal you could double and sometimes triple your available retirement income! The big worry with using your principal is running out of money and that is the problem we have solved and what allows you to double your IRA income in 60 days.

Doubling Your IRA Income – A Better Way To Plan

Annuities are a better way to plan for retirement. Specifically, annuity laddering is as better way to plan for your retirement. Annuity laddering is a lot like CD laddering except you will use annuities instead of CD’s!

Annuity laddering provides guaranteed income that is inflation protected. It also guarantees your principal from loss when used correctly in accordance with your state insurance guarantees. You get close to market returns and retain access to most of your principal at all times.

First you need to guarantee 5 years of living expenses to take the fluctuating market out of the picture. Annuitize a 5 year immediate annuity. Calculate exactly how much you need to live on and set the annuity up to provide that exact amount. Be sure to keep your emergency fund liquid and never put that money into annuities or any kind of long term investment. You now have 5 years of guaranteed income that you never have to worry about again.

Next, use an indexed annuity that will grow for 5 years and then pay income for 5 years. Again, estimate your income needs. The actual calculations for your income will be adjusted before starting payments in 5 years. Sometimes things change and you might need a little more. You now have 10 years of worry free income that is guaranteed.

Finally, use an indexed annuity for 10 years of growth and then 5 years of income. Starting to see how this idea works? An indexed annuity does not go down in value and can go up with the market to provide inflation protection and growth. You now have 15 years of income with no worries over interest rates or the stock market roller coaster! Usually this annuity does not need to be annuitized as insurance companies offer income guarantees that work very well after ten years. You will retain access to the rest of your principal. This plan is for 15 years. That last annuity should provide income for the rest of your life but if it isn’t quite enough then just repeat the annuity laddering plan.

Using guaranteed income strategies will make sure you never run out of money! Remember to only invest exactly how much you will need to provide income for each 5 year period. The longer term investments will boost your IRA income through long term growth. And since your income is guaranteed you are free to use some of your principle as needed with no worries about ever running out of money. How do you double your IRA income in 60 days? Annuity laddering is the answer!

Disclaimer: Always seek individual advice from a licensed professional. This article is for general information purposes only and is not a substitute for personal advice.

Sources

How Much Income Can You Safely Withdraw From Your Retirement Account Each Year? Michael Rubin

A Math Lesson In Investment Losses StanCorp Adisors