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PensionsColloquially speaking, pensions are retirement plans that result in employees receiving a fixed amount of money from their former employers during retirement, often for life (although the technical legal definition of pensions is significantly more nuanced). Unlike “defined contribution plans” like 401(k) plans, “defined benefit plans” like pensions make it so the *employer,* rather than the *employee*, determines how much money is set aside for the plan and how it’s invested (often in stocks, bonds, and other assets). In retirement, monthly payouts include both the principal and investment earnings. Employers often use factors including salary and tenure to calculate investment amounts. Derived from the Latin word for “payment,” pensions were the most common type of retirement plan in the US until the mid-1990s. 401(k) plans and IRAs are now the most popular options—only about 20% of workers in the US participate in pension plans today. There were roughly $69T globally managed assets in pensions as of 2024.Explore Pensions
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Before Social Security, elderly Americans relied on family support, limited state pensions, or company-sponsored pensionsBefore Social Security benefits were available to American retirees, they had to find other ways to get by. Pensions were only available to roughly 15% of workers, and most elderly Americans went without meaningful economic security. Pensions often must ‘vest’ for an employee to be eligible for themThis means that often, an employee won’t be eligible to receive a full pension benefit from an employer until they have worked at the job for a certain number of years. Specifically, these vesting schedules determine when one owns their employer’s pension contributions. The number of years varies significantly by employer. InvestopediaMany countries, like Iceland and Norway, offer pensions to elderly citizensIceland, Luxembourg, and Norway offer some of the highest annual pension payouts at over 30,000 euros. The below chart shows how European nations stack up in terms of which offer the highest annual pension payouts. Visual CapitalistState governments have public pensions for their employeesIn many US states, these pensions are set aside for teachers, firefighters, and/or other state government workers. However, many of these pensions are currently underfunded. This map provides a visual representation of how strong each US states’ public pensions are. Visual CapitalistMost pensions are subject to federal income taxesThose taxes kick in once someone starts taking distributions from their pension. Whether a pension is subject to state income taxes depends on the state and other factors. Learn more about how pensions are taxed in this article. Smart Asset‘Roman military pensions’ were among the first known pensions in historyInstituted by the first Roman emperor, Augustus, around 13 BCE, these early iterations of pensions made it so soldiers sometimes received about a decade's worth of their pay, plus some land to live on. Augustus instituted these pensions to secure loyalty and reduce the risk of coups and unrest. This video includes more fun tidbits about the history of retirement. How History WorksThe prevalence of 401(k) plans and IRAs over pensions shifted investment risk from employers to employees. CNBC401(k) plans and pensions differ in who has control over the investmentsWith pension plans, a company contributes to an investment fund from which it distributes regular payments to a retired worker until their death. A 401(k) gives the worker control over contributions in a tax-advantaged account. New York Life InsuranceIn 1925, the Isolator was a helmet designed to combat procrastination and improve concentration by narrowing a person's field of vision, blocking environmental sounds, and providing oxygen. ZME ScienceEclipse glasses protect the eyes from overexposure to the sun's ultraviolet, blue, and infrared light, as a person's instinct to look away from the sun is diminished when it's partly blocked. University of RochesterThe flashing green light on a smartwatch estimates a person's heart rate by measuring the amount of light reflected back to the watch as blood vessels expand and contract. Royal Society of ChemistryRead the main paper criticizing the concept of blue zones, which argues recordkeeping errors, pension fraud, and natural disasters likely explain the high numbers of purported healthy centenarians in certain locations. BioRxivHALEU, or High-Assay Low-Enriched Uranium, is a next-generation nuclear fuel with higher energy density—three tablespoons of it are enough to supply the average person's electricity use for their entire lifetime. Bloomberg Originals'Happiness depends more upon the internal frame of a persons own mind—than on the externals in the world.'- George Washington (1732-1799) A person's voice sounds different when breathing helium, sulfur hexafluoride, or gases other than air because the speed of sound varies with the properties of the material through which it travels. Insider ScienceCells can last in the human body from days to a person's entire lifeDespite claims that a person's body replaces itself every seven to 10 years, the rate at which cells die and are replaced varies by cell type. Gastrointestinal cells that line the digestive tract and stomach last only a few days, while some heart muscle cells and most neurons are around from birth until death. NPR's Skunk BearThe Nationality Act of 1790 restricted new citizenship to 'free white persons'The first federal citizenship law limited naturalization to white immigrants, excluding enslaved people, Indigenous communities, and most non-Europeans. Immigration HistoryPension funds' allocations to risky, alternative investments increased by 25% between 2001 and 2021The portion of pension funds' risky investments, including alternative investments such as private equity, increased from 14% in 2001 to 39% in 2021. Analysts say private equity investments have delivered higher returns than traditional assets like stocks and bonds. Increased investment in private equity has also given pensions a way to recover from the 2008 financial crisis without necessarily investing more money. StanfordRussian forces seized Ukraine's Crimean Peninsula in 2014Days after Ukraine's 2014 revolution, unmarked Russian troops occupied key sites in Crimea, a Black Sea peninsula with a predominantly Russian-speaking population that had been part of Ukraine since 1954. Imperial War MuseumsThe Missouri Compromise temporarily eased tensions over slavery's expansionPassed in 1820, the Missouri Compromise admitted Missouri as a slave state and Maine as a free state—maintaining the fragile balance between proslavery and antislavery states in Congress. It also banned slavery north of latitude 36°30′. HISTORYMembers of the United States Congress earn $174,000 annuallyMembers of the United States Congress have received the same pay since 2009. Leadership roles are more lucrative, and lawmakers become eligible for a federal pension after five years, with benefits tied to the length of service and salary. CBS NewsLike counting how often a word is repeated in a sentence, forensic scientists can identify people by tallying how often short segments of genetic information repeat in specific parts of a person's DNA—a set of numbers that varies from person to person. Chemical & Engineering NewsAncestry testing matches DNA to known genetic variants found in specific ancestriesAfter a lab receives a person's sample, the DNA is separated into single strands, which are chemically cut into smaller fragments. The fragments are then fed into an array of variants of known origins, and technicians observe if a person's fragments bind to specific variants. NISTWhen a pension holder dies, payments are sometimes passed on to a relativeThose relatives are often the pension holder’s surviving spouses or dependents. This article offers tips from a financial expert on how to make sure your spouse is taken care of during retirement, including navigating a pension’s ultimate destination. KiplingerCash balance pension plans provide the option of a lifetime annuitySpecifically, these defined-benefit plans are retirement plans that differ from traditional pensions in that they can come in one lump sum rather than in monthly payments. These plans are most popular among small business owners and their employees. Learn more about them in this article. Tax Policy CenterPension plans investing over 60% in stocks had the highest real returns in 2024In order to ensure that retirees received all the retirement funds a company or other institution may have promised them, pensions were often limited to investing in run-of-the-mill assets like government securities, investment-grade bonds, and blue-chip stocks. But as market conditions have evolved, pensions are increasingly being invested in a wider range of assets, including alternative investments. InvestopediaTechnically speaking, a 401(k) is a type of pensionThe Employee Retirement Income Security Act of 1974 lumped both defined-contribution plans like 401(k) plans, and defined benefit plans (like what is colloquially known as a pension) under the term “pension” in order to protect workers and make retirement plan enforcement simpler. Learn more about the ERISA here. US Department of LaborEarly timekeeping tools included sundials, water clocks, and astrolabesAstrolabes also provided a person's latitude based on the height of the stars in the sky, thus aiding in navigation. Incense and candle clocks relied on the constant burning rate of fire to track the passage of time based on premarked locations with equal-interval spacing. History.comMedical imaging allows 3D printers to create patient-matched devicesWith imaging data on a person's anatomy, external prostheses and implants, such as cranial plates or hip joints, can be custom-printed to better match a patient's body. Fabrication of porous structures can promote bone growth, leading to longer-lasting implants. FDAAbout 69% of dangerous Black Friday incidents happen inside retail storesSome posit that this is because tensions tend to run high there as customers fight over a limited physical supply of discounted goods. Another 20% of incidents take place at store entrances, where long lines often form well before the retailer opens its doors. The HustleUS–Soviet hostility began long before the Cold WarUS–Soviet tensions began decades before WWII. After the 1917 revolution, the US refused to recognize the Bolshevik regime and even sent troops to fight against it. History MattersAI chatbot use among quarreling couples can aggravate tensionsChatbots can become a sounding board for venting spouses looking to analyze their relationship and find support for their views. Many couples report the negative influence of chatbots like ChatGPT, with some claiming the tools led to divorce. FuturismSee South Korea's nighttime light usage, far surpassing North Korea'sYou can tell a lot about a place by looking at satellite imagery of the earth at night. Economists use such images to study poverty and inequality, especially about secretive countries where it can be difficult to get information any other way. An image from NASA’s Earth Observatory shows the difference in electrification between North and South Korea (and the lights illuminating the DMZ are visible from space). NASAJapan was an empire from 1868 until 1947The Empire of Japan began on Jan. 3, 1868, and facilitated rapid modernization. It endured through a period of colonial expansion—including Korea and Taiwan—1930s militarism, and participation in WWII, until Japan’s formal transformation into a constitutional state under the 1947 constitution following Allied occupation. Encyclopedia BritannicaSome multibillion-dollar pension funds depend on hedge fundsPensions are responsible for safeguarding the retirement plans of many corporate and government employees alike. Pensions differ from 401(k) plans and sometimes rely on alternative assets, like hedge funds, to insulate their portfolios of billions of dollars from volatility in financial markets. Read the case top pension advisor Cambridge Associates makes for hedge funds. Cambridge AssociatesThose over the age of 55 can buy an annuity with their pension savingsAnnuity rates have risen in recent years, making them a more popular financial product, especially as people live longer. But buying an annuity isn’t a spur-of-the-moment decision. The GuardianTensions between the US and European NATO alliesThe Associated Press article discusses US Defense Secretary Pete Hegseth's assertion in February of 2025 that restoring Ukraine's prewar borders or NATO membership for the country are both unrealistic. This represented a large rift between the United States and its other NATO allies, prompting concern about America’s commitment to the future of the alliance. The Associated PressDeath taxes are placed on a deceased person's estateDeath taxes can include liquid cash, property, stocks, or other financial assets they owned. There are two main types of death taxes in the US: the estate tax and inheritance tax. Death taxes are levied at the federal and state level, but are targeted towards the rich. InvestopediaWhat pupils can reveal about a person’s thoughts and feelingsEyes have long been said to be the window to the soul. In this article, a psychologist and pupillometrist explores research demonstrating pupils as a window into the mind. Pupils tell us how intensely someone is exerting mental effort, or even reveal what a person is imagining. Read this article for insight into the field of pupillometry and how it can offer insights into our psyches. PsycheCoffee brewing likely originated in Ethiopa and the Arabian PeninsulaA mixture of merchants and colonialism then launched the drink across Europe and the New World. Many European coffee traditions, like the Viennese custom of serving it alongside a small cup of water, are remnants of how coffee has been prepared in the Middle East for centuries. BBC NewsThe Electoral College was shaped in part to balance North–South powerThis article examines how the Electoral College emerged from political compromise, including efforts to placate slave-owning Southern states and concerns that Northern states would dominate a direct national presidential vote. Governing.comDuring the Cold War and into the 21st century, US and Soviet/Russian leaders repeatedly agreed to arms control treaties, though strained tensions have led to the expiration of agreements in recent years.One of the most tense features of the Cold War between the US and the USSR was the nuclear arms race. Each country sank millions into their ever-expanding nuclear arsenals while schoolchildren practiced duck-and-cover drills. This clickable timeline from the Council on Foreign Relations, a US think tank, charts key moments in the arms race, from the first Soviet nuclear test in 1949 to Reagan’s ‘Evil Empire’ speech. Council on Foreign RelationsUS pension plan adoption has declined from 1975 to 2021Pension plans are a form of guaranteed retirement plan for long-time workers, and they were a major part of industries in the mid-20th century. With the rise of the 401(k) and similar tax-advantaged, defined-contribution accounts, these so-called defined-benefit plans have declined in use by employers. Compare US adoption of both kinds in this table. US Department of LaborA work-free retirement is a relatively recent development in human historyThough it looks different in other countries, economic historians trace retirement's rise in the US to a growth in personal income through pensions, GDP, and Social Security. Economic History AssociationSee ten of the most amazing Mayan ruinsHidden beneath the jungles of Mexico’s Yucatán Peninsula, Maya temples, pyramids, and cities reveal the civilization’s vast construction ambitions. Decades of archaeology have uncovered these sites, which are explored in detail in this guided video tour of 10 significant ruins. TouropiaThe subjectivity of pain means that one person's kidney stones may be another's childbirth, but most sources of pain do have objective, underlying causes.Pain is famously difficult to quantify, and though our response to it may be subjective, most pain does have underlying objective causes. So what's the most painful thing of all? Many say childbirth, or a broken femur, but this article lays out one case for why, of all things, kidney stones may be the most painful experience. Prepare yourself to find out here. IFLScienceThe man behind the dark novel abandoned on the floor of the BastilleAs tensions rose in the days before the French Revolution of 1789, Donatien Alphonse François attempted to fan the flames by shouting at passersby about false horrors happening inside the Bastille where he was imprisoned. This 39-minute podcast... iHeartRadioWhat did Ötzi the Iceman sound like?The natural pitch of a person's voice depends on the size of their larynx, also known as their voice box, and the length and thickness of their vocal folds or vocal cords. Using this information, scientists have recreated the voice of Ötzi the... The ConversationAbout 66 million years ago, an asteroid larger than Mount Everest struck Earth off the coast of the Yucatán Peninsula and wiped out at least 75% of all species, including nearly all dinosaurs.Roughly 66 million years ago, a giant meteor struck Earth off the coast of the Yucatán Peninsula. Some dinosaurs died in the immediate impact, which sent a 200-foot tsunami all the way up to what is now North Dakota. Many others perished in the resulting change in climate, with debris ejected into the global atmosphere. This 12-minute video provides an overview of what scientists have uncovered about the fateful day. YouTubeThe history of the Chinese civil war from 1945-49Today's tensions were formed after the Chinese Communist Party defeated the Kuomintang shortly after World War II. Here's a thorough explainer on what happened. Encyclopaedia Britannica
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