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More than 1,000 current and retired Chicago teachers, police officers and other city workers are expected to rally at the state capitol Wednesday to fight possible cuts to their retirement benefits amid the city's brewing pension crisis.
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Personal finance from around the web:



Chase unveiled changes to the rewards program on its Freedom card this week. Now customers will be able to earn 5%, instead of just 3%, cash back on certain spending categories. [Chase, eCreditDaily]


Meanwhile, Chase is also sending out new cardmember agreements stating that "your account may be in default if any of the following applies:  . . . we obtain information that causes us to MORE
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America has a serious problem saving for retirement.
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Question: I'm nearing retirement, but would like to continue investing in stocks and bonds. My question: Should retirees continue to put money into the markets even after they have retired? --Lee Benge, Charlotte, North Carolina
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Question: I'm 36 and have saved only about $20,000 for retirement. How much per year should I try to save for the next 30 years to assure I'll have a reasonable retirement? --Beth, Grove City, Ohio
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Jason and Patty Simkins, both 40, have saved next to nothing for retirement in the past year. They were rattled by the rocky market, which caused the value of their portfolio to tumble 40% at its low point.
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Question: The 4% rule seems to have become the conventional wisdom for drawing money from your savings in retirement. But I believe the rule is flawed. I think it might make more sense to choose a percentage of your savings that you will withdraw annually and then just apply that percentage to your savings balance at the beginning of each year so you would have more money to spend in years when investment returns are good and less to spend in years when returns are bad. What do you think? --E. W., East Lansing, Michigan
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There will be no cost-of-living increase in Social Security benefits for 2010 because consumer prices have fallen over the past year, the Social Security Administration announced on Thursday.
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