WASHINGTON – One in 5 people near retirement agehas zero money saved.
The sobering statistic was one of many released by the Federal Reserve on Thursday as part of its report on the economic well-being of U.S. households, which surveyed more than 4,100 people online last year between mid-September and early October. The study offered a stark reminder that as more Americans are made responsible for their retirement savings, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement. That included 19 percent of people between the ages of 55 and 64 – those closest to retirement age.
Pilots unions to talk joint contract
The National Mediation Board has informed the pilots unions that American Airlines and US Airways are operating as a single carrier for the purposes of union representation.
The ruling comes in response to the Allied Pilots Associations January request for single carrier determination. It is the next step in combining the two pilots groups and negotiating a joint contract. The APA, which represents close to 10,000 pilots at American, is expected to be the labor representative for pilots from both airlines. The US Airline Pilots Association, which represents over 5,000 pilots from US Airways, argued against the determination.
Google using cloutfor encryption use
Google is wielding the power of its dominant Internet search engine to push more websites into protecting the people using their services.
The move involves a change in Googles closely guarded formula for determining the rankings of its search results. Websites that automatically encrypt their services will now be boosted higher in Google Inc's recommendation system. For now, encryption will remain a small factor in Google's ranking formula, but the Mountain View, California-based company says it may put greater emphasis on the security measure in the future.