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Posted on September 14, 2011

New Census Bureau data released earlier this week shows that more Americans are living in poverty now than at any time since 1993. While an increase might be understandable, given the uncertain economy, the numbers are still staggering. An estimated one in six Americans, or 15.1 percent of the population, is living in poverty. That translates to 46.2 million people – the highest number in 52 years.

As defined by the Census Bureau, the poverty threshold for a family of four in 2010 is $22,114 a year. However, as we’ve noted before, these numbers probably understate the true level of poverty in this country. In any event, if such a high percentage of the population is living in poverty, prospects for a secure retirement look pretty bleak for far too many Americans.

The new poverty figures come on the heels of news reports describing the ways that companies are cutting back on the salaries and benefits they provide to their employees.

A recent New York Times article highlights a two-tier pay scale that has been implemented by Detroit’s Big Three automakers, in which new hires receive lower pay and benefits than long-time employees. Embraced by the automakers, these new wage scales have been lauded for helping the automakers return to profitability. But, for the workers on the lower end of the wage scale, the road to profitability isn’t as clear. According to the article:

Some benefits for the lower-tier workers are scaled back as well. They get the union’s traditional medical benefits, but a maximum of four weeks paid time off a year, versus five for the longtime workers. And instead of the guaranteed $3,100-a-month pension a full-paid worker receives after age 60, the new hires have to build their own “personal retirement plan” based on contributions from the company of less than $2,000 a year.

This “new personal retirement plan” places the burden of preparing for retirement on the backs of the very workers who are helping the automakers emerge from the brink of financial ruin. Cutting pensions doesn’t make sense at a time in which the poverty rate for a family of four is at the highest it has been in 28 years.

The retirement security provided by a lifetime, guaranteed pension does more than just supplement income in retirement. Pensions lift people out of poverty. People without pensions are more likely to live in poverty than those who have them.

A report released earlier this year by the National Institute on Retirement Security states that “more than one-third of households that rely only on individual accounts plans will have income either below or near the poverty line.

In a hearing on Tuesday, Senator Bernie Sanders (I-VT) noted that the United States has the highest overall poverty rate of any major industrialized country on earth, according to the Organization for Economic Cooperation and Development. With fewer companies offering traditional pensions and 401(k) plans proving to be inadequate, we are going to have to do something to address the retirement income crisis in this country. Otherwise, the poverty rate is only going to get worse.

This blog entry was written by the Pension Rights Center's Joellen Leavelle and is cross-posted on the Pension Rights Center's PRC Perspectives blog.

Tags: 401(k) plans, Baby Boomers, Debt, Delaying retirement, Future retirement security, Poverty, Retirement USA, Statistics, Working longer

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Kobe has since promised to restore the Harden Vol 1 Shoes shrine and then some in the coming days, but Lower Merion police are also reviewing surveillance video and asked anyone with information to call police at 610-649-1000.“While the items from the Kyrie 3 case are not of substantial monetary value, they do have a great deal of sentimental importance,” Lower Merion High School administrators said. “They represent a wonderful time of accomplishment, unity and Nike Kobe AD pride for our school community — the 1996 state championship.” Watch the full video courtesy of NBC Philadelphia below and stay tuned for more updates regarding the theft right here on Kyrie 3 BHM Sneaker News.Under Armour and Stephen Curry will be celebrating Chinese New Year this weekend with the release of this new colorway of the Under Armour Curry 3.Dubbed the “Chinese New Lebron 14 Year” pair, this Curry 3 is covered in red throughout most of the upper with subtle gold hits on the upper eyelets and the Under Armour branding on the tongue. The KD 9 Shoes highlight of this shoe is without a doubt is the multicolor graphic that appears on the entirety of the midsole and on the heel. The Curry 3 Chinese New Year is Kobe 5 meant to represent happiness, longevity and good fortune.You can find the Under Armour Curry 3 Chinese New Year at boutiques nationwide in addition to Foot Locker, Champs and Eastbay retail locations Adidas Crazylight Boost 2.5 beginning tomorrow, January 21st. Retail price will be $140.If you’re like most people, Supreme handed you a big L this morning when it came to trying to pick up any Kd 7 pair from the Supreme x Nike Air More Uptempo Collection. All is not bad though since it looks like there be a small glimmer of hope when it comes to picking Lebron Shoes up a pair from this hyped collab.What you see above all official images of the three different colorways from the Supreme x Nike Air More Uptempo Collection, which leads up to Lebron 12 believe that all three pairs may soon be releasing through Nike online.There hasn’t been any type of confirmation regarding this Nike online drop, but being that you can now find the Kobe 6 official images of the collection on Nike’s site, it appears as if a future release is imminent. If Nike dropped the Supreme x Air Jordan 5 collab online, I don’t see Kobe Bryant Shoes why they couldn’t do the same for the Supreme x Nike Air More Uptempo Collection, right? Stay tuned as more info on this potential “restock” begins to surface.The Nike KD Kobe 8 9 Aunt Pearl is the 6th signature shoe from Kevin Durant to pay tribute to his late Aunt Pearl who passed away from lung cancer in 2000.To keep her memories and Harden Shoes spirit alive, Nike Basketball and KD continue to release special edition Nike KD series inspired by Aunt Pearl.“I made a promise to myself to always honor my Aunt Pearl for the Lebron 14 Elite example she set, and the encouragement she gave me to follow my dreams,” says Durant.Proceeds from the shoe will go to the Kay Yow Cancer Fund that was founded in 2007 KD 9 and an organization in which Nike is a founding partner.Dressed in a Black and Pink color scheme. This “Aunt Pearl” edition of the Nike KD 9 features a Black Flyknit upper Lebron James Shoes with Pink underlay, Nike Swoosh logos, insole and Zoom Air cushioning. The insoles read, “Kay Yow Cancer Fund, When Life Kicks You, Let It Kick You Forward. Est. 12.03.2007.” A special Kobe 11 graphic surrounding the KD logo on the heel and the traditional Pink ribbon on the heel tab completes the design.Updated March 21st, 2017: The Nike LeBron 14 “Time To Shine” Kobe A.D. releases on March 24th, 2017 for $175.Earlier this week we took a look at the “Time To Shine” collection from Nike Basketball for March Madness including clean colorways with iridescent accents Adidas Harden Vol 1 for the PG1, Kyrie 3, and KD 9 Elite, and it looks like the LeBron 14 may be joining the squad. Almost an exact match of his teammate’s colorway from the James Harden Shoes Nike set, LeBron’s fourteenth signature model receives a crisp white with an icy clear outsole and iridescent Swooshes on the midfoot strap. Whether they’re an official part of the “Time To Shine” Kyrie 2 collection or not, this LeBron 14 will definitely be shining on its own, anyway.If they are indeed part of the collection, expect them to hit retail with the Kyrie 3 and Kobe Shoes KD 9 Elite from the “Time to Shine” pack on March 24th. Stay tuned to our Sneaker Release Dates page for a confirmed drop date.Kobe Bryant had a number of KD 9 Elite advantages when he dominated the game of basketball. For starters, he was physically gifted and trained upwards of 6 hours a day in the off-season, obsessing over the most minute of kyrie irving shoes details to become one of the game’s greats. But perhaps the advantage Kobe favored the most was his mentality which Nike Basketball constantly tries to emulate through sleek, aggressive perfection in Lebron 11 shoe form. That’s what we get with the strange yet notable new Nike Kobe AD NXT created by longtime Kobe collaborator and design extraordinaire Eric Avar in an attempt to create Lebron 14 Shoes a low profile, yet highly responsive silhouette.The Kobe AD NXT features an unconventional lacing structure meant to give ultimate lockdown support for each foot to go along with a lightweight Flyknit Kyrie 1 upper. Think of this as the Elite version to Kobe’s twelfth signature sneaker, but with a completely redesigned midsole unit as well. A drop in insole features Lunarlon and a Zoom James Harden Shoes Air bag. As for that Flyknit shroud, it features a subtle circular knit in an attempt to reference the lotus flower in an homage to the theme of rebirth. This is Kobe 3 Kobe and Avar’s reimagining of the entire Black Mamba line for a post-retirement reign.This Nike Kobe AD NXT Volt will be available at select retailers this Saturday, April 1st with a Lebron Soldier 9 widespread release alongside the Kobe AD NXT “Wolf Grey” on April 3rd. Each pair retails for $200 USD. Check out more detailed shots below and be sure to head to our Kd 5 Release Dates page for more of the latest from Nike Basketball.Nike designer and longtime collaborator Eric Avar worked with Bryant to develop the new Nike Kobe A.D. NXT, Kobe Bryant’s KD Shoes second post-retirement sneaker.Defined by a new lacing structure, the design was achieved by integrating the lacing with the Flyknit upper. Pulling the laces up and out of the lace lock draws Kobe AD the structure together, creating a fluid system with the drop-in insole (combining Lunarlon with a Zoom Air bag, and siped in the forefoot for flexibility).In addition, the sneaker’s flyknit upper incorporates Lebron 10 a subtle circular pattern that was inspired by a lotus flower and represents rebirth. Other details on the shoe include secret Kobe codes. On the laterial side, the code translates to Harden Vol 1 “unhinge” (defined here as disrupting the normal operation), whereas on the medial side the code relays the thought, “end and begin.”Overall, the code symbols and lotus flower pattern reaffirm Bryant and Nike Kyrie 3 Avar’s reawakening of the KOBE line.Featured in bright volt, you can also find the new model in wolf grey at select Nike retailers starting this Saturday, April 1 for $200.The James Harden Adidas Shoes Nike Kyrie 3 “Hyper Cobalt” is a brand new Nike Kyrie 3 that’s set to debut in the beginning of February 2017.Dressed in a Hyper Cobalt, White, Chlorine Blue and Volt color scheme. This Nike Kyrie 3 features a White upper with a bold Black Nike Swoosh on the sides. Shades of Blue are seen Kd 8 throughout, while minor hints of Volt appear on the outsole.Look for the Nike Kyrie 3 “Hyper Cobalt” to release on February 1st, 2017 at select Nike Basketball retail stores. The retail price tag is set at $120 USD.The latest Nike Kyrie 3 PE to be revealed is one that would be perfect Kobe 9 for the Michigan Wolverines to wear during the March Madness tournament. But that would never happen, as they’ll be laced up in nothing by Jordan Brand gear.This Nike Kyrie 3 features LeBron Soldier 10 a Navy Blue mesh upper with a splash of White wrapping around the heel. Yellow contrasting accents covers the branded tongues, Nike Swoosh logos and also seen on the shoes rubber LeBron Ambassador 9 outsole.What do you guys think of this brand new Kyrie 3 PE colorway? Get a better look below and leave your thoughts in the comments section.The Nike Air Shake NDestrukt Kyrie Shoes is know for being worn by Dennis Rodman during his tenure with the Chicago Bulls. It features a ribbed leather upper with a large Swoosh. A true classic from the ’90 Kevin Durant Shoes Nike basketball era. We let you know last year that the model would be making a return this year and now we’re here to let you know that two more colorways Kobe AD Shoes are also expected to release.Constructed using the same materials, these new colorways come in your choice of Red and White or if you’re feeling godly, a Triple White offering. The branding Kobe 10 on the upper comes in tonal fashion, as do the laces. Would you be down to rock these once they make a return? Stay tuned as more release info on these Kyrie 3 Shoes upcoming drops begin to surface. Popular Tags: Kd 8 Black Kyrie 1 Colorways Lebron 10 Elite Kd 7 Floral Kyrie 2 Krispy Home Kd 9 Aunt Pearl Lebron 11 Graffiti Kd 6 Meteorology Kd 7 Gold Medal Kyrie 1 Bhm Kd 6 Pbj Kd 9 Colorways

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