retirement

Oklahoma Governor Kevin Stitt is considering legislation to give raises to state retirees for the first time in 12 years.

The measure to give Cost of Living Adjustments to firefighters, law enforcement and teachers passed the Senate as one of the last bills before the legislative session ended on Friday.

The bill’s author, Senator Roger Thompson, says the retiree systems are well-funded even though the hit to the programs will be a 1.5 to 1.8 percent increase.

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For 24 years, Karen Bradley worked as a nurse at St. Clare's Hospital in Schenectady, N.Y. The pay wasn't great, she says, but it was a good hospital, the place where her father once worked as a pharmacist. Bradley thought that if she stayed she'd have a nice pension for retirement.

"I enjoyed what I did there and believed in the promises that were made about the pension," she says.

But a year ago, Bradley got a letter saying her pension was gone.

"Why is there nothing left? Who screwed up?" she wondered.

Bob Orozco barks out instructions like a drill sergeant. The 40 or so older adults in this class follow his lead, stretching and bending and marching in place.

It goes like this for nearly an hour, with 89-year-old Orozco doing every move he asks of his class. He does that in each of the 11 classes he teaches every week at this YMCA in Laguna Niguel, Calif.

"I probably will work until something stops me," Orozco says.

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STEVE INSKEEP, HOST:

Not everyone who reaches so-called retirement age is ready to retire. But they may be ready for a change. That's one of the reasons that the tech giant Intel pays longtime employees a stipend while they try out new careers at nonprofit organizations.

There's never a shortage of questions about the twists and turns of health coverage. Here are answers to recent questions from readers about premium tax credit repayments for marketplace plans, out-of-network emergency care and nursing home bills.

This day is starting out really nasty if you happen to be an oil driller — or a baby boomer who would like to retire with a nest egg.

Through the night and into the morning, the price of oil has been falling. You can now buy a barrel for less than $30. (Remember, it was nearly $115 as recently as June 2014.) The market for oil has been thrown into disarray because of worries about possible declining Chinese demand and surging Iranian supplies.

That means U.S. oil producers will continue to see their profits plunge and industry layoffs worsen.

A couple of years ago, University of Chicago professor Harold Pollack did an online video chat with personal finance writer Helaine Olen. The topic was how regular people get steered into bad investments by financial advisers.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

ARI SHAPIRO, HOST:

Within minutes of opening this morning, the Dow plummeted more than a thousand points. It was the largest point loss ever during a trading day. When the markets closed, things were at a slightly less scary point. The Dow ended the day down 588 points.

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