Next Avenue is a virtual ‘life coach' for Baby Boomers, informing, inspiring, engaging and connecting the nation's largest segment of the adult population. It will also challenge them to see the opportunities life holds after 45,” said Next Avenue CEO Jim Pagliarini. “We intend for Next Avenue to be a truly interactive venture, designed not merely to entertain and inform but to provoke thought and action. And we plan to provide a rich arena for user-generated content, feedback and interaction.” 

PBS Next Avenue

Under Social Security law, when a person who has worked and paid Social Security taxes dies, certain members of that person's family may be eligible for survivor benefits based on the earnings records of their deceased spouses. Benefits also go to many children of deceased workers.

Below is a partial list of who may be eligible to receive survivor benefits. Please be aware that the rules are complicated and the best source for personal information is Social Security at 1-800-772-1213 from 7 a.m. to 7 p.m. Monday to Friday.

Widows and widowers

• Widows and widowers who have reached full retirement age generally receive 100 percent of the spouse's benefit.
• They can take reduced survivor benefits as early as age 60-- or age 50 if disabled.
• If they are under full retirement age, they receive about 71.5 to 99 percent of the worker's benefit.
• They can receive benefits at any age if they take care of the deceased's child if the child is under age 16 or disabled. The individual caring for the child receives 75 percent of the worker's benefit.

The Teacher Retirement System of Texas (TRS) wanted a big win, so it put $100 million into the buyout of a Las Vegas gaming company called Station Casinos.

The company went bankrupt, and like many an unlucky jackpot-chaser, the state’s largest pension fund walked away a loser. More than $99 million of Texas teachers’ retirement money had vanished

TRS is the nation’s fifth-largest public pension provider, with current assets of $110 billion. It serves 1.3 million public education employees, about one-fourth of whom are retired.

Fidelity's 401(k) participants set aside an average $5,810 through paycheck deductions for the 12-month period ended March 31, and employers kicked an additional $3,360. Both numbers are slightly higher than they were a year ago.

The Roth TSP feature will give federal government employees greater flexibility in the tax treatment of their accounts. Roth contributions are tax-free when withdrawn; their earnings are also tax-free when withdrawn (as long as certain IRS requirements are met). Participants should check with their agencies or services to find out when they will be ready to participate in the Roth TSP. 

The tax law states that you must start taking mandatory payouts (MRD) from traditional IRAs (but not from Roths) no later than April 1 of the year after the year you turn 70 1/2. So if you turned 70 1/2 in 2011, the deadline is approaching.  Call your IRA or 401k provider...they will have the calculation for you.

What do I do with TSP when I retire?

 (1) Set up monthly withdrawals from TSP, (2) Create an annuity with TSP through MetLife, or (3) Rollover TSP to an IRA

If you leave your money with TSP once you retire, you can create income by taking monthly withdrawals.  The pros are: you continue to enjoy the low fees that TSP offers, and you can change the amount of your monthly check every January. The cons are: you can only make changes to your monthly check in January. Imagine you’re retired and receiving a monthly check from your TSP account.  You have an unexpected emergency and need to repair your roof, or you need to buy a new car, or your daughter is getting married and you have the pleasure of assisting with the wedding costs.  You call TSP and ask them to send you a lump sum check.  Guess what!  They will not allow it.  Your choices are to make a change to your monthly withdrawals in January or be forced to take the entire balance out of your TSP account.  What if you want to stop your withdrawals?  Let’s assume you are receiving a monthly check from TSP and come September, you realize you do not need this much income from TSP, because you are simply paying the tax and depositing the remainder into your bank account.  And, the very next payment will dump you into a higher tax bracket.  So you call TSP and request that they stop your monthly withdrawals until January of the next year.  And guess what?  That is not an option.  So you see, for many retirees scheduling monthly withdrawals from TSP may be a great way to supplement your income, for others, they do not want to live within the restrictions of TSP. 

The second option you have is to create a lifetime annuity from your TSP through a MetLife annuity.  The pros are: you can have a guaranteed payment over your life as well as a joint life with your spouse or someone that has an insurable interest with you.  If you are worried about the volatility in the market causing you to run out of money during your retirement, you can be worry free because MetLife can guarantee income over your lifetime. The cons are: it’s an irrevocable decision.

The third option is to rollover TSP into an IRA.  The pros are: you have more choices than the 5 funds offered through TSP, you can have more flexibility as to how you take withdrawals, and you can manage the IRA yourself or have a professional manage it for you.  The cons are: you may not have the knowledge or experience to know how to manage the IRA, the choices available may be overwhelming and you may find yourself taking on more risk than you are comfortable with, and you will very likely be paying higher fees than those of TSP.