Money Minute: U.S. Retirement Age Rises; More Airline Fees

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The average retirement age in the U.S. keeps creeping higher.

A new Gallup poll finds the average age at which Americans retire is now 62. That's the highest it's been since Gallup began keeping track more than 20 years ago, and it's up from an average 59 years old just four years ago. There's also a discrepancy between the age people do retire and the age they say they expect to retire. The average American expects to retire at age 66.

Obesity isn't just a health hazard, it may be considered a disability. A federal judge in Missouri last week rejected an employer's effort to throw out a case alleging that it fired a man because of his weight. According to a legal trade journal, the judge said the man could claim he was disabled under the terms of the Americans With Disabilities Act Amendments of 2008. The actual case has yet to be heard in court, but it could set a precedent for defining a workplace disability.

Airline fees keep piling up. The regional carrier Frontier is the latest to charge for what passengers used to get for free -- placing your luggage in the overhead bins. The cost for using the overhead bins could be as high as $50. Frontier already charges $15 to $75 dollars for checking bags. Frontier is also adding fees for reserving a seat in advance. The airline says these fees will allow it to lower fares. There's no fee yet for using the bathroom.

Here on Wall Street, the Dow Jones industrial average (^DJI) rose 87 points Monday, the Standard & Poor's 500 index (^GPSC) added 6, but the Nasdaq composite (^IXIC) lost a point.

Finally, this may be even better than fantasy football for pigskin fanatics. The start-up firm Fantex is now trading shares of Vernon Davis, the star tight end of the San Francisco 49ers. Investors' success depends upon his economic performance, including salary, bonuses and endorsements. Fantex notes that this first-of-its-kind security is -- in its words -- "highly speculative."

-Produced by Drew Trachtenberg.


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akavw

retirement isn't a hole u can't shut fool... get your facts straight food stamps are a nessecity to invest whats left in your crocodile $by$ pzd pzd

May 02 2014 at 3:04 AM Report abuse rate up rate down Reply
akavw

subhuman in the tea shope ... where you goin. got a have a slurpeeeee?!

May 02 2014 at 3:00 AM Report abuse rate up rate down Reply
akavw

fantasy football for pigskin fanatics. going to the game too cold at high noon ... your time is running into waste water blit blit take a ride 20000 legues undrer by way to paper pillow ...fin

May 02 2014 at 2:59 AM Report abuse rate up rate down Reply
progressivehoax

Evan Barthold, the village id!ot from Underwood.

May 01 2014 at 2:04 PM Report abuse rate up rate down Reply
Vicki

Frontier, hope you end up in bankruptcy. This continued extortion of the public who fly, is enough. What is it we really pay for when we pay for the ticket? These airlines have ruined the joy of flying. I won't fly Frontier, ever again.

April 30 2014 at 10:56 AM Report abuse +1 rate up rate down Reply
zombiestalkers

America-the great enabler of the losers of the world. When did we become such wussies????

April 29 2014 at 9:56 PM Report abuse +1 rate up rate down Reply
teaparty2implode

Wisconsin Voter ID Law Rejected By Federal Judge

MILWAUKEE (AP) — A federal judge in Milwaukee struck down Wisconsin's voter identification law Tuesday, declaring that a requirement that voters show a state-issued photo ID at the polls imposes an unfair burden on poor and minority voters.

U.S. District Judge Lynn Adelman sided with opponents of the law, who argued that low-income and minority voters aren't as likely to have photo IDs or the documents needed to get them. Adelman said the law violated the U.S. Constitution's guarantee of equal protection. He also said the law appeared too flawed to be fixed by legislative amendments.

Adelman's decision invalidates Wisconsin's law and means voter ID likely won't be in place for the fall elections, when Republican Gov. Scott Walker faces re-election. While Walker last month committed to calling a special legislative session if the law were struck down in court, his spokeswoman wouldn't commit to that Tuesday.

"We believe the voter ID law is constitutional and will ultimately be upheld," Walker spokeswoman Laurel Patrick said in an email. "We're reviewing the decision for any potential action."

The ruling could set a precedent for similar legal challenges in Texas, North Carolina and elsewhere. There are 31 states with laws in effect requiring voters to show some form of identification, according to the National Conference of State Legislatures. Seven states have strict photo ID requirements similar to the one a state judge struck down in Arkansas last week; that decision has been appealed to the Arkansas Supreme Court. Pennsylvania's voter ID law has been put on hold because of court challenges.

Earlier this month, President Barack Obama waded into the voter ID debate, accusing Republicans of using restrictions to keep voters from the polls and jeopardizing 50 years of expanded voting access for millions of black Americans and other minorities.

A Dane County judge had already blocked Wisconsin's law in state court. The state Supreme Court heard arguments in two separate lawsuits in February, although it's not clear when the justices will issue a ruling. For voter ID to be reinstated, the state's high court would have to rule that it doesn't violate the state constitution, and Adelman's decision would have to be overturned on appeal.

Wisconsin's Department of Justice, which defended the state law in court, pledged to continue the fight.

"I am disappointed with the order and continue to believe Wisconsin's law is constitutional," Attorney General J.B. Van Hollen said in a statement. "We will appeal."

Republican backers had argued that requiring voters to show ID would cut down on voter fraud and boost public confidence in the integrity of the election process. But Adelman said the state failed to prove that voter fraud is a legitimate problem.

"(V)irtually no voter impersonation occurs in Wisconsin and it is exceedingly unlikely that voter impersonation will become a problem in Wisconsin in the foreseeable future," he wrote in a 90-page opinion.

April 29 2014 at 6:00 PM Report abuse rate up rate down Reply
2 replies to teaparty2implode's comment
teaparty2implode

If the Republicans are so worried about voter fraud then why don't they ever bring up valid cases of voter fraud ? Republicans also want to get rid of early voting to. They can't win on merit so they make it harder for people to vote.

April 29 2014 at 6:10 PM Report abuse +1 rate up rate down Reply
1 reply to teaparty2implode's comment
teaparty2implode

I guess you failed to read where the U.S. District Judge Lynn Adelman said,....the state failed to prove that voter fraud is a legitimate problem.

A voter ID case in Pennsylvania was purely political.

Justice Seamus P. McCaffery wrote in his dissent:

I was elected by the people of our Commonwealth, by Republicans, Democrats, Independents and others, as was every single Justice on this esteemed Court. I cannot now be a party to the potential disenfranchisement of even one otherwise qualified elector, including potentially many elderly and possibly disabled veterans who fought for the rights of every American to exercise their fundamental American right to vote. While I have no argument with the requirement that all Pennsylvania voters, at some reasonable point in the future, will have to present photo identification before they may cast their ballots, it is clear to me that the reason for the urgency of implementing Act 18 prior to the November 2012 election is purely political. That has been made abundantly clear by the House Majority Leader. I cannot in good conscience participate in a decision that so clearly has the effect of allowing politics to trump the solemn oath that I swore to uphold our Constitution. That Constitution has made the right to vote a right verging on the sacred, and that right should never be trampled by partisan politics.

McCaffery was referring to a declaration in June by Pennsylvania's GOP House majority leader, Mike Turzai, that the voter ID law "is going to allow Governor Romney to win the state of Pennsylvania."

Why is Republican house leader MikeTurza so ignorant ? Didn't he realize he was being video taped ?

April 29 2014 at 8:23 PM Report abuse +1 rate up rate down
progressivehoax

Dunce

April 30 2014 at 8:03 AM Report abuse -2 rate up rate down Reply
weilunion

The average age for retirement now is 73. You will be lucky if you can make it by working at hardware stores or Wal Marts. This is about a system in decline as wealth trickles up.

Used to be the age, in the 60's for retirement was 65. But that is when we had strong unions, defined pensions and not phony 401K's and workers rights. Now the one percent own the system and retirement is a myth. Debt is a reality

April 29 2014 at 3:25 PM Report abuse +4 rate up rate down Reply
hallrich34

FRONTIER SAYS INCREASING REVENUE BY CHARGING A FEE TO USE OVERHEAD BINS WILL REDUCE FARES. FRONTIER REALLY BELIEVES THAT??? FRONTIER WILL ULTIMATELY "FOLD ITS TENT" (MAYBE SELL OR MERGE TO/WITH A LEGITIMATE AIR SERVICE THAT KNOWS HOW TO RUN AN AIRLINE!

April 29 2014 at 3:14 PM Report abuse +1 rate up rate down Reply
aevf101

According to the headline: Airline fees are going up because more people are retiring or is it the other way around?

April 29 2014 at 2:50 PM Report abuse -1 rate up rate down Reply