Billions Archives - DR News - News, Retirement, Finance

Pension Crisis: NY Lawmakers Push for Billions in Taxpayer-Funded Raises

Albany, New York – State lawmakers in New York are facing scrutiny for their recent decision to increase pensions for public employees, potentially costing taxpayers billions of dollars. The move, approved by both the State Senate and Assembly Democrats, involves changing the pension calculation formula for Tier 6 workers, those hired after 2012, from using the last five years of service to just the last three years. This adjustment is estimated to add $4.4 billion …

Medicare Bill Passes House with Bipartisan Support, Saving Billions in Costs

Washington D.C., USA – In a rare display of bipartisan cooperation, the Republican-led House of Representatives passed the Lower Costs, More Transparency Act in December, marking a significant step towards addressing the looming issues in Medicare reimbursements. The bill, which aims to level the playing field between hospitals and doctors’ offices for certain treatments, could potentially save over $3.7 billion in the next decade, benefiting both beneficiaries and the healthcare system as a whole. Under …

Medicare Fraud Scheme Uncovered in South Florida, Resulting in Billions in Losses

Boca Raton, Florida – A widespread fraud scheme targeting Medicare recipients is being uncovered by investigators, revealing a multi-billion-dollar operation preying on vulnerable seniors. The scheme involves telemarketers persuading individuals to undergo unnecessary genetic testing for heart conditions and cancer, ultimately defrauding Medicare. Federal investigators released a recorded phone call as evidence in a criminal case, showcasing how scammers from call centers in South Florida target unsuspecting Medicare enrollees. In the call, an 84-year-old man …

Billions Follow Catherine’s Royal Return Amid Health Battle

London, England – The Princess of Wales is set to make her first public appearance of the year at the annual Trooping the Colour parade in London. Catherine, alongside her children, will take part in a carriage procession with the Royal Family along the Mall, followed by an appearance on the balcony of Buckingham Palace. The news of her participation was included in a health update from the princess, who continues to undergo chemotherapy treatment. …

Investing: Pension funds shift billions away from stocks, signaling market turbulence

New York, NY – Pension funds in the United Kingdom are facing a wave of challenges as retirement obligations mount and investment strategies come under scrutiny. Recent reports suggest that pension funds are shifting their focus away from stocks, with Goldman Sachs warning of the implications this could have on the market. The shift away from stocks is a significant development that could have far-reaching consequences for both pension funds and the stock market as …