Funding Archives - DR News - News, Retirement, Finance

Retirement Reality Check: Relying on Social Security for Funding? Think Again

Miami, FL – Many Americans believe that Social Security will provide enough funds for a comfortable retirement. However, according to financial experts like Greszler, this may not be a reliable plan. Greszler warns that relying solely on Social Security benefits for retirement income may not be enough to cover living expenses. Experts suggest that Social Security was never meant to be the primary source of retirement income. With the aging population and fewer workers paying …

Social Security Funding Outlook Improves Slightly: Tough Decisions Ahead for Congress

Washington, D.C. – The latest Social Security Trustees Report for 2024 paints a slightly brighter picture for the program’s future. While in the previous year benefit cuts seemed imminent by 2034, the current projections show that all scheduled benefits can be funded through 2035. Additionally, the expected funding shortfall beyond that point is anticipated to be smaller than previously estimated. Despite this temporary relief, it is clear that Social Security cannot sustain its current form …

Social Security: Important Program Faces Funding Shortfall by 2035

Social Security, a lifeline for millions of Americans, remains a program shrouded in confusion for many. The future of the Old-Age, Survivors, and Disability Insurance (OASDI) trust funds, vital components of Social Security, is a topic of concern as projections indicate that their ability to fully fund benefits may only last until 2035 without legislative intervention. Similarly, Medicare’s Hospital Insurance Trust Fund is on track to exhaust funds by 2036 if no changes are made. …

Contract Negotiations for IATSE Benefit Plans Continue Amid Funding Shortfall

Los Angeles, California – The International Alliance of Theatrical Stage Employees (IATSE) wrapped up its first week of negotiations on a new contract. The focus of the discussions was primarily on the union’s benefit plans, which are facing a substantial $670 million shortfall over the next three years. This funding gap is largely attributed to the extended health coverage provided to members who were out of work due to the strikes and pandemic-related shutdowns, leaving …

Budget Committee Passes Bill to Establish Fiscal Commission Despite Concerns Over Medicare and Social Security Funding

WASHINGTON, DC – The House Budget Committee advanced legislation on Thursday to establish a bipartisan fiscal commission with the goal of addressing the government’s budget issues. The bill was approved 22-12, with three Democrats joining Republicans in passing the measure. The proposed commission would be responsible for creating a report and drafting legislation aimed at improving the government’s fiscal condition. Despite the advancement of the legislation, concerns were raised about the potential impact on programs …

Tax Hikes Loom for Mississippi Municipalities as Retirement System Funding Bill Fizzles

JACKSON, Miss. – City and county governments in Mississippi are facing a tough decision after a bill that would have decreased the employer contribution to the state retirement system for government workers failed to pass. Supporters of the proposal warn that without this change, local governments may have to resort to raising taxes or cutting employees to make up for the increased costs. House bill 1590, which did not move forward in the Senate committee …

Funding in Cohere Soars to $5 Billion with Canadian Pension Fund PSP Taking the Lead

Toronto, Canada – The Canadian Pension Fund PSP has announced its plan to co-lead the funding round for Cohere, a tech startup, at a valuation of $5 billion. This move represents a significant investment in the growing tech industry, showcasing the fund’s commitment to supporting innovation and entrepreneurship in Canada. Cohere, known for its cutting-edge technology in natural language processing, has been attracting attention from investors for its unique approach to machine learning. With the …

Fax Machines in Health Care Get a Modern Makeover with AI Startup Funding

San Francisco, California – In the ever-evolving landscape of healthcare technology, one startup is aiming to revolutionize the way medical facilities handle communication. With the backing of prominent investor Marc Andreessen, this new company is on a mission to modernize an age-old method of transmitting information: the fax machine. Faxes have long been a staple in the healthcare industry, despite their outdated reputation. However, this new startup is determined to breathe new life into this …

Social Security Funding Crisis Looms: Proposal to Reallocate Retirement Account Taxes for Solvency

Boston, Massachusetts – Social Security is a critical lifeline for millions of Americans, with nearly 9 out of 10 people 65 and older relying on these monthly benefits. However, a looming solvency crisis has raised concerns about the program’s future. The latest report from the Social Security Trustees predicts a possible 20% reduction in benefits by 2034 if the funding shortfall is not addressed promptly. In a recent proposal, economists from Boston College’s Center for …

HHS Receives Slight Boost in Funding with Congressional Agreement

Washington D.C., In a tight vote, the House passed a budget that provides a slight boost to the Department of Health and Human Services (HHS) for fiscal 2024. The increase in funding, totaling $116.8 billion, represents only a small bump from the previous enacted level. Despite this nominal increase, the budget was constrained by previously agreed-upon budget caps, resulting in essentially flat growth for the department. Lawmakers managed to avoid an across-the-board 1% sequester cut …