January 3, 2014
IF YOU RESOLVED to save more for your retirement in 2014, you may be happy to hear about some new research on estimating the income you'll need. To have enough money for when you are no longer working, you have to know your "number. " That is a calculation based on various factors such as the rate of inflation, how much you are expecting from Social Security, an estimate of how much your investments might earn and how long you think you might live. The calculation also estimates the percentage of pre-retirement income you'll need to replace.
January 1, 2014 |
Under pressure, Nicholas Maiale , the South Philadelphia lawyer who has chaired the $25 billion Pennsylvania State Employees' Retirement System since 1992, is leaving the post from which he oversaw state investments under five governors. "I often said I'd keep the chairman's job as long as I enjoy it. I haven't enjoyed it since Thanksgiving," when he decided to tell SERS's chief investment officer, Anthony Clark , that he was the subject of an internal investigation, Maiale told me. Against SERS lawyers' advice, Maiale told Clark that state lawyers were reviewing staff claims that Clark had withheld information about hedge-fund losses and claims that he may have been trading personal investments from his SERS office.
December 20, 2013 |
IN HER MORE mature years, Marcella Roane wouldn't be seen outdoors without being fashionably turned out, complete with a stylish hat. In fact, her hats became a kind of trademark for Marcella, and she had a collection of them, along with the handkerchiefs she liked to carry. "She had a collection of both for any occasion, no matter how big or small," her family said. Marcella Geneva Roane, a retired employee of the Veterans Administration, an expert cook who inspired her daughter to open popular soul-food restaurants, an active churchwoman and a devoted family matriarch, died Sunday.
December 18, 2013 |
CAROL AMBRUSTER didn't hesitate to speak her mind when she saw injustice. Like the time the Philadelphia Orchestra raised its single-ticket concert price to make it the most expensive in the nation. Carol hit the ceiling. "Oh, my heavens, it's really a slap in the face," she told an Inquirer interviewer in 2002. "It's the arrogance of the rich toward those of us who love music. " Carol M. Ambruster, a retired assistant astronomy and astrophysics professor at Villanova University, was stabbed to death Dec. 9 in her Germantown apartment at Wayne Avenue and School House Lane.
December 16, 2013 |
The chief investment officer of the Pennsylvania State Employees' Retirement System speeded up his retirement after a whistle-blower said he had engaged in personal investment trades at work and withheld news about a $3 million loss in a pension-fund investment, documents obtained by The Inquirer show. The material shows that the whistle-blower first raised the complaints in April about Anthony Clark - one of the state's highest-paid employees, at $270,000 a year - to her superiors in the legal staff about the $26 billion pension system and to at least one of the system's board members.
December 13, 2013 |
GERMANTOWN The Germantown apartment building where a retired Villanova University professor was found stabbed to death Monday night was not easily accessible to outsiders, one of the building's owners said Wednesday, suggesting that the woman might have known her killer. Carol W. Ambruster, 69, a retired professor of astronomy, was found by her roommate in the kitchen of her apartment in the 5500 block of Wayne Avenue with a knife in her neck about 9 p.m., police said. She also had been stabbed in the chest.
December 11, 2013 |
Roy Halladay got 16 years of relative fame from a career in major-league baseball, but when it came time to reflect and say farewell to a professional life that spanned nearly half his time on earth, Halladay was accorded just a half-hour before being preempted. That's no knock on either Comcast SportsNet or the MLB Network, both of which cut away from Halladay's retirement news conference on Monday; Comcast to bring you Chip Kelly quoting Winston Churchill and the MLB Network to continue talking about whatever it is they talk about there between November and February.
December 11, 2013 |
LAKE BUENA VISTA, Fla. - The night before his father announced his retirement from baseball in a conference room at the Walt Disney Dolphin Hotel, Braden Halladay played a double-elimination tournament Sunday in Tampa. The Dunedin Panthers, a team of 13-year-old boys, were tied in extra innings of the last game. "Don't strike out," Braden told himself. He slapped the pitch over a drawn-in infield for the winning single. Braden tossed his helmet into the sky before he touched first base.
December 8, 2013 |
Anthony S. Clark, chief investment officer of the Pennsylvania State Employees' Retirement System (SERS), has told the system he plans to retire Dec. 31. Clark's early retirement follows SERS's decision to begin investigating his actions while an executive of the $25 billion asset fund. Clark, 60, has held the job since April 2011. He is paid $270,000 a year, more than Gov. Corbett but less than many of the investment managers Clark reviewed, hired, and fired as managers of state pension investments.
December 5, 2013 |
Ritchie Webb, Neshaminy school board president for the last five years, has been described in a variety of ways during his decade on the board: a gentleman, a fierce negotiator, a man whose primary interest was to either improve the district or hurt the teachers union, depending on the source. Soon, characterizing him will take only one word: retired. Webb, 60, a Republican who headed the district during one of the longest teacher contract impasses in recent state history, unexpectedly announced Monday that he is stepping down from the board Dec. 31 to spend more time with his family.