Assets

Kansas Senate Votes to Increase Death Benefit and Expand Pension System Investments in Alternative Assets

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In Topeka, Kansas, the state Senate has voted to increase the lump-sum death payment for retirees in the Kansas Public Employee Retirement System (KPERS), as well as raise the maximum amount of the pension system’s portfolio tied to alternative private equity or infrastructure investments. The Senate voted 25-14 in favor of Senate Bill 172, which would raise the death benefit to $6,000 from the current $4,000. The cost of this adjustment over a 20-year period is estimated to be $108 million, to be covered by KPERS contributions and investment income. The death benefit has not … Read more

Russian Government Prepares Bill to Confiscate Assets of False Information Violators and Alleged Criminals Amid Ukraine Invasion

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MOSCOW, Russia – In a move that intensifies Russia’s crackdown on the spread of false information and its ongoing invasion of Ukraine, the Russian government has announced its preparation of a bill that would allow the confiscation of money and property. The proposal aims to target individuals who violate laws related to false information and the Ukrainian invasion, as confirmed by Russian officials on Saturday. Chairman of the Duma, Vyacheslav Volodin, shared details of the bill through the messaging platform Telegram. Volodin explained that the draft law would enable the authorities to seize assets, including … Read more

Russian Lawmakers Propose Confiscating Assets of Those Spreading False Information about Armed Forces

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Moscow – Russian lawmakers are drafting a bill that would permit the seizure of assets from individuals spreading what they deem as “deliberately false information” about the country’s armed forces. Vyacheslav Volodin, the speaker of the State Duma, stated that this legislation would also encompass acts of betrayal such as discrediting the armed forces, advocating for sanctions against Russia, or inciting extremist activities. In a post on Telegram, Volodin asserted that those who attempt to undermine or betray Russia must face appropriate punishment and compensate for the harm inflicted on the nation by forfeiting their … Read more

New California Law Allows Retirees to Keep Assets and Qualify for Medi-Cal

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Los Angeles, California – A new California law set to take effect on January 1, 2024 could have significant implications for retired individuals. Under this law, assets such as bank accounts, cash, and second vehicles will no longer be considered when determining eligibility for Medi-Cal, the state’s Medicaid program. This means that even those with significant assets, including a million dollars in the bank, could still qualify for Medi-Cal. For retired individuals on Medicare, qualifying for Medi-Cal can be like having long-term care insurance without the expensive premiums or the need for a physical exam. … Read more