Donald Thompson, a former judge in Oklahoma who made headlines for being convicted of indecent exposure, has lost an appeal that claimed he should be eligible for his retirement benefits he earned while on the job. The benefits are worth approximately $8,000 per month.
Thompson’s legal woes included testimony that he used a penis pump while on the bench during trials. In fact, his nickname since his charges became public has been the “Penis Pump Judge”.
According to the retirement board, Thompson’s use of the penis pump violated his oath and thus voided any benefits he was to receive in retirement — …read more

Visteon, one of the world’s leading auto parts suppliers, has asked for permission from its bankruptcy judge to terminate retiree life insurance benefits and retiree health care. If the bankruptcy judge, who is located in the state of Delaware, gives permission, this would affect both former and current Visteon employees.
In 2004, Visteon had nearly $19 billion in sales and approximately 70,000 employees around the world. However, the company’s success started to suffer and by May of 2009, Visteon was in such trouble that it was forced to file for Chapter 11 bankruptcy protection.
When Visteon filed bankruptcy, they had about $4.5 …read more

With many organizations, agencies and government entities around the United States trying to save money, retirement benefits have often been on the chopping block. As a result, many employees have decided to  retire to lock in the previous benefits.
Examples can be seen across the country. In the National Football League, a few members of the Indianapolis Colts’ coaching staff decided to retire to lock in benefits.
Another example can be seen in the city of San Diego, California. According to a recent report, in excess of 600 employees for the city have decided to retire this year. The yearly average in …read more

The New Hampshire Senate has voted to increase the length of time that police officers and firefighters have to work before they can retire. The number of years was unanimously voted to be increased from 20 to 25 years.
With economic troubles, this change is part of an ongoing effort to cut costs in the New Hampshire Retirement System so that it can continue to provide retirement benefits to state and municipal workers. The rule change goes into effect for those hired after July 1, 2009.
At 25 years, employees will be able to retire and be entitled to 62.5% of their …read more

Chrysler retired salaried workers were afraid their current healthcare benefits would not transfer to the new company that is being formed by the sale of Chrysler to Fiat. A group representing the retirees asked permission to form a committee to take part in the Chrysler bankruptcy process, but U.S. Judge Arthur Gonzales denied the motion for the committee on Thursday.
The attorneys for Chrysler said the committee wasn’t necessary because benefits would continue under the new company. And though that’s not guaranteed, Gonazles agreed that the committee wasn’t necessary as the decision about the benefits would be made by the Fiat …read more