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The article discusses the federal pensions that former presidents and vice presidents are entitled to, regardless of the outcome of the election. It highlights the specific pension amounts that Donald Trump, Kamala Harris, Tim Walz, JD Vance, and Joe Biden are eligible for based on their years of service and positions held. The pensions are taxpayer-funded and provide a guaranteed income for life, in addition to other perks. The article also mentions the history of presidential pensions and the total amount spent on pensions and perks for former presidents since 2000. [Extracted from the article]

The article highlights U.S. vice presidential candidate Tim Walz's substantial but often overlooked financial stability, underscoring that his net worth doesn't fully reflect the value of his extensive pensions. Topics discussed include his diverse pension sources from teaching, military service, and Congress; the disparity between public and private sector retirement benefits; and the financial security provided by his pension plans compared to typical American retirement savings.

Southwest Airlines pilots have reached a tentative agreement for a 50% pay raise over the next five years. The deal, which still needs to be approved by members, includes improvements in retirement benefits and work rules, as well as addressing scheduling practices that contributed to the airline's holiday meltdown in 2022. This agreement comes after contentious negotiations and makes Southwest the last of the four largest U.S. carriers to come to terms with its pilots. Other airlines have also seen pilot pay increases as the industry grapples with a pilot shortage. [Extracted from the article]

The article discusses the plight of retirees dependent on health-care benefits that bankrupt coal-mining company Patriot Coal Corp. has asked a judge for permission to terminate. Patriot chief executive Bennett Hatfield says retiree health-care costs have become unsustainable. Details are presented about the circumstances of retirees Julius Jacquez and Clifton Tennant.

The article reports on the decision of the U.S. multinational technology and consulting corporation the International Business Machines Corp. (IBM) to overhaul its spending on their employees' 401(k) retirement accounts as of December 7, 2012. An overview of the potential impact that IBM's 401(k) plan will have on other U.S. companies is provided.

The article discusses well-paying consulting arrangements that some companies provide former executives. A contract that chief executive Samuel J. Palmisano has with technology firm International Business Machines Corp. calls for him to be paid $20,000 per day for consulting services. Companies say they benefit from the advice of former executives, although some activist investors are skeptical.

The article discusses a funding shortfall in public-employee pension plans of U.S. states. Although many states have adopted new laws since 2009 aimed at reducing the funding gap, analysis by researchers at Boston College indicates the plans remain underfunded by several hundred billions of dollars. Investment losses sustained during the 2008-2009 global financial crisis severely depleted pension assets in many state plans.

The article states that U.S. bank J.P. Morgan Chase & Co. chief investment officer Ina Drew left the bank on May 14, 2012. The article discusses Drew's total compensation of $31.5 million for 2010 and 2011, and whether her resignation would impact her retirement package. The article also examines the status of equity awards of $14.7 million owed to Drew and the concept of clawbacks of distributed funds.

The article reports that current chairman and chief executive William Weldon of drug company Johnson & Johnson will begin receiving benefits and deferred compensation valued at over $143 million once he leaves the company. Of that figure, $48.4 million represents accrued pension benefits. A company spokesman said Weldon earned his benefits during a long career with Johnson & Johnson, which began in 1971.

The article discusses J. Mark Iwry, the U.S. Treasury Department's senior official for retirement and health policy. Iwry's top priority is to increase retirement savings in the U.S., and to that end he has championed plans that would require some employers to make automatic deductions from paychecks and deposit these into employee individual retirement accounts.

The article discusses a provision in U.S. health-care-reform legislation that lets large employers access a $5 billion federal fund to offset their costs of providing health benefits for retired employees under the age of 65. Some fear the fund could be emptied out soon as organizations including the state of California and General Electric Co. apply for reimbursement.