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    IBM Reopens Its Frozen Pension Plan, Saving the Company Millions

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    The company has stopped making contributions to 401(k) accounts, and instead giving workers cash credits in a new version of its old pension plan.Traditional pension plans haven’t come back. But the news from IBM might lead you to think so.Last month, IBM thawed out a defined benefit pension plan that it had froze more than 15 years ago. The company has also stopped making contributions into employee 401(k) accounts.These moves are startling, because, on the surface, at least, IBM seems to be reversing a decades-long trend of corporations moving away from traditional pension plans. With the old plans, companies promised to pay employees retirement income that rewarded them for long years of service. But these plans were expensive, and IBM and hundreds of other firms instead began to emphasize 401(k)s that moved the primary responsibility for saving and investing to workers. IBM’s new approach is significant because the company has been a leader in employee benefit policymaking. What it is doing now is no simple return to the classic cradle-to-grave benefits system. In fact, IBM’s new pension plan isn’t nearly as generous to long-tenured employees compared with its predecessor.The move has real advantages for some people who work at IBM, particularly those who put little or no money of their own into 401(k)s and who stay at the company for a relatively short while.Crucially, IBM’s maneuver is likely to be wonderful for its shareholders. The company is saving hundreds of millions of dollars a year by stopping contributions to employee 401(k) accounts. And it doesn’t need to put any money into the pension plan this year — and, probably, for the next few years — because it has plenty of money already in it. On a purely financial standpoint, IBM is improving its cash flow and bottom line.For a small but important subset of companies — those with fully funded, closed or frozen pension plans — IBM’s move could be a harbinger of things to come, pension consultants say. IBM is using a surplus in its pension fund to simultaneously change its employee benefits package and help the company’s finances.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Employers Can Now Enroll Workers in Some Emergency Savings Accounts

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      But many companies are spurning the “clunky” legal requirements for accounts linked to retirement plans. Instead, some have stand-alone rainy day offerings.Starting this year, a federal law allows employers to enroll workers in emergency savings accounts that are linked to their retirement accounts. But some companies, put off by the law’s complex rules, have begun offering rainy day benefits outside workplace retirement plans.“I do think there is tremendous interest in emergency savings programs,” said Matt Bahl, vice president and head of workplace financial health at the Financial Health Network, a nonprofit that promotes financial well-being. “Having access to liquid cash can greatly reduce levels of financial stress.”The Employee Benefit Research Institute, a nonprofit, found that about three-fourths of large employers (those with 500 or more workers) offered or planned to offer hardship or emergency assistance programs to workers last year. Of those, about a third said they offered an emergency savings account feature and another third planned to do so in the next year or two.But while the law, known as Secure 2.0, has helped draw attention to the need for rainy day savings, its rules for setting up emergency accounts within retirement plans are “clunky,” Mr. Bahl said. For instance, only workers making under a certain income limit ($155,000 for 2024) may participate, and their emergency savings are limited to $2,500, though employers can set lower ceilings. And though employers can help with contributions, they must deposit any match into the worker’s retirement account — not the emergency savings account.While employers may eventually choose to offer such “sidecar” savings accounts, stand-alone emergency savings programs are already available from financial technology start-ups and established retirement plan administrators. With emergency savings offerings, “it’s really important to be broadly available and simple to use,” said Emily Kolle, a vice president who oversees the emergency savings offering from Fidelity Investments, one of the largest retirement plan administrators.Emergency savings — a cash cushion available in the event of a job loss or surprise expenses like car repairs or medical bills — are a concern for many Americans. In a recent survey by the financial site Bankrate, about a third said they would have to borrow to cover a $1,000 unexpected expense. And almost a quarter of consumers have no savings set aside for emergencies, according to the Consumer Financial Protection Bureau.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      New York Asks Realty Company to Investigate Sexual Assault Allegations

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      The state comptroller wants eXp Realty to look into allegations that female real estate agents were drugged and assaulted during company events.The New York state comptroller has asked the real estate brokerage eXp Realty to open an independent investigation into sexual harassment and assault allegations exposed in a New York Times article last month.As New York’s chief fiscal officer, the comptroller, Thomas DiNapoli, is the trustee of the New York State Common Retirement Fund. According to the most recent SEC filing, the pension fund held nearly 27,000 shares of eXp World Holdings, the publicly-held parent company of eXp Realty.In two separate lawsuits, five current and former agents at eXp Realty said that two top agents at the brokerage drugged and them assaulted them at separate eXp recruiting events. Four of them said they were subsequently sexually assaulted, and The Times investigation uncovered a pattern of eXp leadership silencing those who tried to make reports.“The New York Times report raised a huge red flag for us as an investor in that company,” Mr. DiNapoli said in an interview. “We found the allegations very concerning and as a shareholder, we are asking questions. We want a public reporting of their efforts to prevent harassment.”With $2 billion and $90,000 agents, eXp Realty is one of the world’s fastest-growing brokerages. Ariana Drehsler for The New York TimesHe sent a letter to the eXp chief executive, Glenn Sanford, requesting that the company establish an independent committee to look not only into the allegations, but into gaps in policies that may have set the stage for assaults to occur. Mr. DiNapoli wrote that he was concerned about the “legal and reputational risks” presented by the allegations.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Gabriel Attal Is France’s Youngest and First Openly Gay Prime Minister

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      Gabriel Attal, 34, replaces Élisabeth Borne in a cabinet shuffle that President Emmanuel Macron hopes can reinvigorate a term marked by drift and division.PARIS — In a typically bold bid to revitalize his second term, President Emmanuel Macron named Gabriel Attal, 34, as his new prime minister, replacing Élisabeth Borne, 62, who made no secret of the fact that she was unhappy to be forced out.Mr. Attal, who was previously education minister and has occupied several government positions since Mr. Macron was elected in 2017, becomes France’s youngest and first openly gay prime minister. A recent Ipsos-Le Point opinion poll suggested he is France’s most popular politician, albeit with an approval rating of just 40 percent.Mr. Macron, whose second term has been marked by protracted conflict over a pensions bill raising the legal retirement age to 64 from 62 and by a restrictive immigration bill that pleased the right, made clear that he saw in Mr. Attal a leader in his own disruptive image.“I know that I can count on your energy and your commitment to push through the project of civic rearmament and regeneration that I have announced,” Mr. Macron said in a message addressed to Mr. Attal on X, formerly Twitter. “In loyalty to the spirit of 2017: transcendence and boldness.”Mr. Macron was 39 when he sundered the French political system that year to become the youngest president in French history. Mr. Attal, a loyal ally of the president since he joined Mr. Macron’s campaign in 2016, will be 38 by the time of the next presidential election in April, 2027, and would likely become a presidential candidate if his tenure in office is successful.This prospect holds no attraction for an ambitious older French political guard, including Bruno Le Maire, the finance minister, and Gérald Darmanin, the interior minister, whose presidential ambitions are no secret. But for Mr. Macron, who is term-limited, it would place a protégé in the succession mix.“My aim will be to keep control of our destiny and unleash our French potential,” Mr. Attal said after his appointment.Standing in the bitter cold at a ceremony alongside Ms. Borne, in the courtyard of the Prime Minister’s residence, Mr. Attal said that his youth — and Mr. Macron’s — symbolized “boldness and movement.” But he also acknowledged that many in France were skeptical of their representatives.Alain Duhamel, a prominent French author and political commentator, described Mr. Attal as “a true instinctive political talent and the most popular figure in an unpopular government.” But, he said, an enormous challenge would test Mr. Attal because “Macron’s second term has lacked clarity and been a time of drift, apart from two unpopular reforms.”President Emmanuel Macron reviewing troops in Paris last week. A reshuffle, he hopes, will invigorate his government.Ludovic Marin/Agence France-Presse — Getty ImagesIf France is by no means in crisis — its economy has proved relatively resilient despite inflationary pressures and foreign investment is pouring in — it has appeared at times to be in a not uncharacteristic funk, paralyzed politically, sharply divided and governable with an intermittent recourse to a constitutional tool that enables the passing of bills in the lower house without a vote.Mr. Macron, not known for his patience, had grown weary of this sense of deadlock. He decided to force Ms. Borne out after 19 months although she had labored with great diligence in the trenches of his pension and immigration reforms. Reproach of her dogged performance was rare but she had none of the razzmatazz to which the president is susceptible.“You have informed me of your desire to change prime minister,” Ms. Borne wrote in her letter of resignation, before noting how passionate she had been about her mission. Her unhappiness was clear. In a word, Mr. Macron had fired Ms. Borne, as is the prerogative of any president of the Fifth Republic, and had done so on social media in a way that, as Sophie Coignard wrote in the weekly magazine Le Point, “singularly lacked elegance.”But with elections to the European Parliament and the Paris Olympics looming this summer, Mr. Macron, whose own approval rating has sunk to 27 percent, wanted a change of governmental image. “It’s a generational jolt and a clever communications coup,” said Philippe Labro, an author and political observer.Mr. Attal has shown the kind of forcefulness and top-down authority Mr. Macron likes during his six months as education minister. He started last summer by declaring that “the abaya can no longer be worn in schools.”His order, which applies to public middle and high schools, banished the loosefitting full-length robe worn by some Muslim students and ignited another storm over French identity. In line with the French commitment to “laïcité,” or roughly secularism, “You should not be able to distinguish or identify the students’ religion by looking at them,” Mr. Attal said.The measure provoked protests among France’s large Muslim minority, who generally see no reason that young Muslim women should be told how to dress. But the French center-right and extreme right approved, and so did Mr. Macron.Éisabeth Borne, the departing prime minister, delivering a speech during the handover ceremony in Paris on Tuesday.Pool photo by Emmanuel DunandIn a measure that will go into effect in 2025, Mr. Attal also imposed more severe academic conditions on entry into high schools as a sign of his determination to reinstate discipline.For these and other reasons, Mr. Attal is disliked on the left. Mathilde Panot, the leader of the parliamentary group of extreme left representatives from the France Unbowed party and part of the largest opposition group in the National Assembly, reacted to his appointment by describing Mr. Attal as “Mr. Macron Junior, a man who has specialized in arrogance and disdain.”The comment amounted to a portent of the difficulties Mr. Attal is likely to face in the 577-seat Assembly, where Mr. Macron’s Renaissance Party and its allies do not hold an absolute majority. The change of prime minister has altered little or nothing for Mr. Macron in the difficult arithmetic of governing. His centrist coalition holds 250 seats.Still, Mr. Attal may be a more appealing figure than Ms. Borne to the center-right, on which Mr. Macron depended to pass the immigration bill. Like Mr. Macron, the new prime minister comes from the ranks of the Socialist Party, but has journeyed rightward since. Mr. Attal is also a very adaptable politician, in the image of the president.The specter that keeps Mr. Macron awake at night is that his presidency will end with the election of Marine Le Pen, the far right leader whose popularity has steadily risen. She dismissed the appointment of Mr. Attal as “a puerile ballet of ambition and egos.” Still, the new prime minister’s performance in giving France a sense of direction and purpose will weigh on her chances of election.Mr. Macron wants a more competitive, dynamic French state, but any new package of reforms that further cuts back the country’s elaborate state-funded social protection in order to curtail the budget deficit is likely to face overwhelming opposition. This will be just one of the many dilemmas facing the president’s chosen wunderkind. More

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      Ron DeSantis’s Entry Into the Republican Race

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      More from our inbox:The Futility of Debating TrumpListen to Trans People, and Detransitioners TooRegulating A.I.: Can It Be Done?Splitting Finances During DivorceMusing About the ‘Best’ Eze Amos for The New York TimesTo the Editor:Re “Hot Mic, Dead Air and Eventually, DeSantis Speaks” (front page, May 25):So Ron DeSantis finally entered the race. Among his highest priorities is a crusade against D.E.I. (diversity, equity and inclusion) and “woke” that we must all witness now.I have three questions for Mr. DeSantis:First: What is wrong with diversity? Ecosystems are more resilient if there is diversity. Likewise for human societies. And diverse societies are more fascinating. Color is interesting; monochrome is boring.Second: What is wrong with equity? Don’t all Americans believe in equality of opportunity and equality before the law? And we know that extreme inequality of income and wealth hurts the economy.Third: What is wrong with inclusion? Which group do we propose to leave out? Don’t all God’s creatures have a place in the choir?Bonus question: D.E.I. is what wokeness is all about. What is so bad about wokeness? Whom does it harm? Where is the angry mob? Why should “woke” go to Florida to die?I put these questions to the governor.Michael P. BaconWestbrook, MaineTo the Editor:While Twitter may have its share of weaknesses, Gov. Ron DeSantis has skillfully demonstrated his leadership qualities and strengths. Choosing facts over fear, education over indoctrination, law and order over rioting and disorder — Mr. DeSantis’s record speaks for itself.Because of his common sense and guidance, Florida is growing now more than ever as people are migrating and planting new roots in the Sunshine State. With Florida as the model, we need look no further than Ron DeSantis as our nation’s future.JoAnn Lee FrankClearwater, Fla.The Futility of Debating Trump Doug Mills/The New York TimesTo the Editor:It is not too early to mention presidential debates. The Times should make an unprecedented recommendation that the sitting president not debate former President Donald Trump during the 2024 campaign.One simply cannot debate an inveterate, incessant liar. I mean that in the most literal sense: Lying is not debating, and it takes two to engage in debate. It cannot be done.Witness the recent CNN debacle, where, even when checked assiduously by the moderator, Mr. Trump repeated nothing but lies. Everyone who could have conceivably been convinced that the former president ignores the truth completely was already convinced. All others will never be convinced.Therefore, there is no upside whatsoever to sharing the stage with such a mendacious bloviator. In fact, it may serve only as an opportunity for the former president to call for another round of “stand back and stand by.” Should President Biden give him that opportunity?David NeuschulzChatham, N.J.Listen to Trans People, and Detransitioners TooChloe Cole, who lived for years as a transgender boy before returning to her female identity, now travels the country promoting bans on transition care for minors. She received a standing ovation at Gov. Ron DeSantis’s State of the State speech in Florida in March.Phil Sears/Associated PressTo the Editor:Re “G.O.P. Focuses on Rare Stories of Trans Regret” (front page, May 17):While the article rightly notes that the campaign to ban gender transition in minors is led by Republicans, it falls into the trap of viewing youth gender medicine and detransition as a right-versus-left issue. Many people who support equality for trans and detrans people insist that a public health lens is crucial.The article doesn’t mention the growing transnational archive of people who detransition, commonly with feelings of regret for having transitioned. If you look at countries with national universal health care systems like Sweden, youth gender care has recently evolved following state-funded reviews of transgender treatment. By contrast, in the U.S., our highly privatized and compartmentalized managed care system contributes to the politicization of this issue to the detriment of all.Perhaps this is why the article seems to downplay the trauma that saturates detransitioners’ testimonies. To mourn the loss of one’s breasts or ability to reproduce is no small matter.Journalists should stop equating detransition with an attack on transgender people. Instead, they should see young people testifying to medical harm as a call for accountability and strive to understand the full range of their experiences without fueling the dangerous right-left divide.Daniela ValdesNew Brunswick, N.J.The writer is a doctoral candidate at Rutgers University who researches detransition.Regulating A.I.: Can It Be Done?Sam Altman, chief executive of OpenAI, believes that developers are on a path to building machines that can do anything the human brain can do.Ian C. Bates for The New York TimesTo the Editor:Re “The Most Important Man in Tech (Right Now)” (Business, May 17):Warnings about the enormous dangers of artificial intelligence are warranted, but mere calls for “regulations” are empty. The question is not whether regulatory regimes are needed, but how to control the uses to which A.I. can be put.Anything human or nonhuman that is capable of creative thought is also capable of creating mechanisms for self-preservation, for survival. The quest for a “precision regulation approach to A.I.” is likely to prove elusive.Norman Cousins, Carl Sagan, Alvin Toffler and many others have presciently warned that technological advances provided both a cure to some of humanity’s afflictions and a curse, potentially threatening human existence.One doomsday scenario would be for tech scientists to ask A.I. itself for methods to control its use and abuse, only to receive a chilling reply: “Nice try!”Charles KegleyColumbia, S.C.The writer is emeritus professor of international relations at the University of South Carolina.Splitting Finances During Divorce Lisk FengTo the Editor:Re “Rebuilding Finances After Divorce” (Business, May 18):Your article is correct in advising spouses that they may “land in financial hot water” unless they seek expert advice concerning splitting retirement assets at divorce. But getting good advice, while a necessity, is not enough.Even if a spouse is awarded a share of a 401(k) or pension benefit as part of a divorce decree, that alone is not enough. Under the federal private pension law ERISA, spouses must obtain a special court order called a qualified domestic relations order (better known as a Q.D.R.O.) to get their rightful share of private retirement benefits.This should be done earlier, not later. Getting a Q.D.R.O. after a divorce is much harder — and sometimes impossible — to get.So, to protect themselves at divorce, the word “Q.D.R.O.” should be part of every woman’s vocabulary.Karen FriedmanWashingtonThe writer is the executive director of the Pension Rights Center.Musing About the ‘Best’ O.O.P.S.To the Editor:Re “Our Endless, Absurd Quest to Get the Very Best,” by Rachel Connolly (Opinion guest essay, May 21):As far as I’m concerned, the best of anything is the one that meets my particular needs, not those of the reviewer, not those of the critic and not those of anybody else.Likewise, what’s best for me is not necessarily best for you. I guess you could say that the “best” is not an absolute; it’s relative.Jon LeonardSan Marcos, TexasTo the Editor:While some may suffer from a relentless pursuit of perfection, some struggle with making choices, period. I’ve witnessed parents trying to get their toddlers to make choices about food, clothing, activities, etc. Hello, they’re 2!I wonder how many suffer from what I call “compulsive comparison” chaos, when one goes shopping after purchasing an item to make sure they got the best deal, even if satisfied with their purchase. True madness.Vicky T. RobinsonWoodbridge, Va. More

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      Macron Appears Ready to Tough Out France’s Pension Crisis

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      Amid protests in the streets and in Parliament, the French leader shows no sign of scrapping a law that raises the retirement age.PARIS — President Emmanuel Macron’s re-election program last year was short on detail. His mind seemed elsewhere, chiefly on the war in Ukraine. But on one thing he was clear: He would raise the retirement age in France to 65 from 62.“You will have to work progressively more,” he said during a debate in April 2022 with the extreme-right candidate, Marine Le Pen. She attacked the idea as “an absolutely unbearable injustice” that would condemn French people to retirement “when they are no longer able to enjoy it.”France heard both candidates. Soon after, Mr. Macron was re-elected with 58.55 percent of the vote to Ms. Le Pen’s 41.45 percent. It was a clear victory, and it was clear what Mr. Macron would do on the question of pensions.Yet his ramming the overhaul through Parliament last week without a full vote on the bill itself culminated in turmoil, mayhem on the streets and two failed no-confidence votes against his government on Monday, even as polls have consistently shown about 65 percent of French people are opposed to raising the retirement age.Had they not heard him? Had they changed their minds? Had circumstances changed? Perhaps the answer lies, above all, in the nature of Mr. Macron’s victory, as he himself acknowledged on election night last year.Looking somber, speaking in an uncharacteristically flat monotone, Mr. Macron told a crowd of supporters in Paris: “I also know that a number of our compatriots voted for me today not to support the ideas that I uphold, but to block the extreme right. I want to thank them and say that I am aware that I have obligations toward them in the years to come.”“Those ‘obligations’ could only be a promise to negotiate on major reforms,” Nicole Bacharan, a social scientist, said on Tuesday. “He did not negotiate, even with moderate union leaders. What I see now is Macron’s complete disconnection from the country.”Marine Le Pen, center, of the far-right National Rally party, says the pension plan would condemn French people to retirement “when they are no longer able to enjoy it.”Thomas Samson/Agence France-Presse — Getty ImagesOpposition parties on both the left and the right have vowed to file challenges against the pension law before the Constitutional Council, which reviews legislation to ensure it complies with the French Constitution.“The goal,” said Thomas Ménagé of Ms. Le Pen’s National Rally party, “is to ensure that this text falls into the dustbin of history.”But the chances of that appear remote.After a long silence, Mr. Macron is set to address the turmoil on Wednesday. He will try to conciliate; he will, according to officials close to him, portray the current standoff as a battle between democratic institutions and the chaos of the street, orchestrated by the extreme left and slyly encouraged by the extreme right. He has decided to stick with his current government, led by Élisabeth Borne, the prime minister, and he will not dissolve Parliament or call new elections, they say.In short, it seems Mr. Macron has decided to tough out the crisis, perhaps offering some blandishments on improving vocational high schools and broader on-the-job training. But certainly no apology appears to be forthcoming for using a legal tool, Article 49.3 of the Constitution, to avoid a full parliamentary vote on a change that has split the country. (Only the Senate, the upper house, voted to pass the bill this month.)This approach appears consistent with Mr. Macron’s chosen tactics on the pension overhaul. Since the debate with Ms. Le Pen 11 months ago, inflation has risen, energy prices have gone up, and the pressures, particularly on the poorer sectors of French society, have grown.French lawmakers held up protest placards after the result of the first no-confidence motion against the French government at the National Assembly on Monday.Gonzalo Fuentes/ReutersYet, while he has made some concessions, including setting the new retirement age at 64 rather than 65, Mr. Macron has remained remote from the rolling anger. Most conspicuously, and to many inexplicably, after the government consulted extensively with unions in the run-up to January, Mr. Macron has refused to negotiate with the powerful moderate union leader Laurent Berger, who had supported Mr. Macron’s earlier attempt at pension changes in 2019 but opposes him now.“Macron knows the economy better than he knows political psychology,” said Alain Duhamel, a political scientist. “And today, what you have is a generalized fury.”A large number of Macron voters, it is now clear, never wanted the retirement age raised. They heard Mr. Macron during the debate with Ms. Le Pen. They just did not loathe his idea enough to vote for a nationalist, anti-immigrant ideologue whose party was financed in part by Russian loans.Mr. Macron is adept at playing on such contradictions and divisions. Because his presidential term is limited, he is freer to do as he pleases. He knows three things: He will not be a candidate for re-election in 2027 because a third consecutive term is not permitted; the opposition in Parliament is strong but irreconcilably divided between the far left and extreme right; and there is a large, silent slice of French society that supports his pension overhaul.All this gives him room to maneuver even in his current difficult situation.When Mr. Macron opted last week for the 49.3 and the avoidance of a parliamentary vote, he explained his decision this way: “I consider that in the current state of affairs the financial and economic risks are too great.”Protesters in Nantes, in western France, on Tuesday.Loic Venance/Agence France-Presse — Getty ImagesOn the face of it, speaking about risks to financial markets while pushing through an overhaul deeply resented by blue-collar and working-class French people seemed politically gauche. It appeared especially so at a moment when Mr. Macron was turning away from the full parliamentary vote his government had unanimously said it wanted.“Saying what he said about finance at that moment, in that context, was just dynamite,” said Ms. Bacharan.It was also an unmistakable wink to the powerful French private sector — with its world-class companies like LVMH Moët Hennessy Louis Vuitton — and to the many affluent and middle-class French people who do not like the growing piles of uncollected garbage or the protests in the streets, and who view retirement at 62 as an unsustainable anomaly in a Europe where the retirement age has generally risen to 65 or higher.If Mr. Macron has cards to play, and perhaps broader support than is evident as protesters hurl insults at him day after day, his very disconnection may make it hard for him to judge the country’s mood.Last week, Aurore Bergé, the leader of Mr. Macron’s Renaissance party in Parliament, wrote to Gérald Darmanin, the interior minister, to request police protection for lawmakers.“I refuse to see representatives from my group, or any national lawmaker, afraid to express themselves, or to vote freely, because they are afraid of reprisals,” she said.It was a measure of the violent mood in France.“If we have had 15 Constitutions over the past two centuries, that means there have been 14 revolutions of various kinds,” Mr. Duhamel said. “There is an eruptive side to France that one should not ignore.”The National Assembly in Paris. Opposition parties on the left and the right have vowed to file challenges against the pension law. Joel Saget/Agence France-Presse — Getty ImagesAurelien Breeden More

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      Macron Faces an Angry France Alone

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      President Emmanuel Macron saw his decision to push through a change in the retirement age as necessary, but the price may be high.PARIS — “We have a president who makes use of a permanent coup d’état.” That was the verdict of Olivier Faure, the leader of the French Socialist Party, after President Emmanuel Macron rammed through a bill raising the retirement age in France to 64 from 62 without a full parliamentary vote this past week.In fact, Mr. Macron’s use of the “nuclear option,” as the France 24 TV network described it, was entirely legal under the French Constitution, crafted in 1958 for Charles de Gaulle and reflecting the general’s strong view that power should be centered in the president’s office, not among feuding lawmakers.But legality is one thing and legitimacy another. Mr. Macron may see his decision as necessary to cement his legacy as the leader who left France prepared to face the rest of the 21st century. But to many French people it looked like presidential diktat, a blot on his reputation and a blow to French democracy.Parliament has responded with two motions of no confidence in Mr. Macron’s government. They are unlikely to be upheld when the lawmakers vote on them next week because of political divisions in the opposition, but are the expression of a deep anger.Six years into his presidency, surrounded by brilliant technocrats, Mr. Macron cuts a lonely figure, his lofty silence conspicuous at this moment of turmoil.“He has managed to antagonize everyone by occupying the whole of the center,” said Jacques Rupnik, a political scientist. “Macron’s attitude seems to be: After me, the deluge.”This isolation was evident as two months of protests and strikes that left Paris strewn with garbage culminated on Thursday in the sudden panic of a government that had believed the pension vote was a slam dunk. Suddenly, the emperor’s doubts were exposed.Mr. Macron thought he could count on the center-right Republicans to vote for his plan in the National Assembly, Parliament’s lower house. Two of the most powerful members of his government — Finance Minister Bruno Le Maire and Interior Minister Gérald Darmanin — came from that party. The Republicans had advocated retirement even later, at 65.Prime Minister Élisabeth Borne, bottom left, with lawmakers at the National Assembly on Thursday. If the government falls in a no-confidence vote, she will no longer be prime minister.Alain Jocard/Agence France-Presse — Getty ImagesYet out of some mixture of political calculation in light of the waves of protest and spite toward the man who had undermined their party by building a new movement of the center, they began to desert Mr. Macron.Having his retirement overhaul fail was one risk that even Macron the risk taker could not take. He opted for a measure, known as the 49.3 after the relevant article of the Constitution, that allows certain bills to be passed without a vote. France’s retirement age will rise to 64, more in line with its European partners, unless the no-confidence motion passes.But what would have looked like a defining victory for Mr. Macron, even if the parliamentary vote in favor had been narrow, now looks like a Pyrrhic victory.Four more years in power stretch ahead of Mr. Macron, with “Mr. 49.3” stamped on his forehead. He made the French dream when he was elected at age 39 in 2017; how he can do so again is unclear.“The idea that we are not in a democracy has grown. It’s out there all the time on social media, part conspiracy theory, part expression of a deep anxiety,” said Nicolas Tenzer, an author who teaches political science at Sciences Po university. “And, of course, what Macron just did feeds that.”The government’s spokesman is Olivier Véran, who is also minister delegate for democratic renewal. There is a reason for that august title: a widespread belief that over the six years of the Macron presidency, French democracy has eroded.After the Yellow Vest protest movement erupted in 2018 over an increase in gas prices but also an elitism that Mr. Macron seemed to personify, the president went on a “listening tour.” It was an attempt to get closer to working people of whom he had seemed dismissive.Now, almost one year into his second term, that outreach seems distant. Mr. Macron scarcely laid the groundwork for his pension measure even though he knew well that it would touch a deep French nerve at a time of economic hardship. His push for later retirement was top-down, expedited at every turn and, in the end, ruthless.Outside the National Assembly, French Parliament’s lower house, on Friday. Mr. Macron thought he could count on center-right Republicans there to vote for his plan, but they began to desert him.Geoffroy Van Der Hasselt/Agence France-Presse — Getty ImagesThe case for the overhaul was strong. It was not only to Mr. Macron that retirement at 62 looked untenable as lives grew longer. The math, over the longer term at least, simply does not add up in a system where the ratio of active workers to the retirees they are supporting through their payroll taxes keeps dropping.But in an anxious France, with many people struggling to pay their bills and unsure of their futures, Mr. Macron could not make the argument. In fact, he hardly seemed to try.Of course, the French attitude to a mighty presidency is notoriously ambiguous. On the one hand, the near-monarchical office seems to satisfy some French yearning for an all-powerful state — it was a French king, Louis XIV, who is said to have declared that the state was none other than himself. On the other, the presidency is resented for the extent of its authority.Mr. Macron seemed to capture this when he told his cabinet on Thursday, “Among you, I am not the one who risks his place or his seat.” If the government does fall in a vote of censure, Élisabeth Borne will no longer be prime minister, but Mr. Macron will still be president until 2027.“A permanent coup d’état,” Mr. Faure’s phrase, was also the title of a book that François Mitterrand wrote to describe the presidency of de Gaulle. That was before Mr. Mitterrand became president himself and in time came to enjoy all the pomp and power of his office. Mr. Macron has proved no more impervious to the temptations of the presidency than his predecessors.Protesters at a train station in Bordeaux, France, on Friday. Demonstrations and strikes over the pension bill have gone on for two months and continued after Mr. Macron’s decision to avoid a full vote.Philippe Lopez/Agence France-Presse — Getty ImagesBut times change, social hierarchies fall, and Mr. Macron’s exercise of his authority has stirred a strong resentment in a flatter French society at a moment of war-induced tension in Europe.“There is a rejection of the person,” Mr. Tenzer said. The daily newspaper Le Monde noted in an editorial that Mr. Macron ran the risk of “fostering a persistent bitterness, or even igniting sparks of violence.”In a way, Mr. Macron is the victim of his own remarkable success. Such are his political gifts that he has been elected to two terms in office — no French president had done this in two decades — and effectively destroyed the two political pillars of postwar France: the Socialist Party and the Gaullists.So he is resented by the center left and center right, even as he is loathed by the far left and the far right.Now in his final term, he must walk a lonely road. He has no obvious successor, and his Renaissance party is little more than a vehicle for his talents. This is the “deluge” of which Mr. Rupnik spoke: a vast political void looming in 2027.If Marine Le Pen of the far right is not to fill it, Mr. Macron the reformist must deliver the resilient, vibrant France for which he believes his much-contested reform was an essential foundation.A protester shot a firework at police officers in Paris on Friday.Julien De Rosa/Agence France-Presse — Getty ImagesAurelien Breeden More

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      What’s Next for Opponents of Macron’s Retirement Plan?

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      Angry protesters lit small fires and clashed with police clad in riot gear at the Place de la Concorde in central Paris on Thursday after President Emmanuel Macron pushed his pension reform bill through Parliament without a vote.Several thousand people had spontaneously gathered there earlier in the day, after the government’s decision was announced, to demonstrate across the Seine River from the National Assembly, the lower house of Parliament.While the gathering was mostly peaceful throughout the afternoon, the situation took a more violent turn as night fell over the French capital and the police moved in to clear out the Place de la Concorde, a major square in Paris with a famed obelisk in the middle, not far from luxury hotels, the Tuileries gardens and the U.S. Embassy.Protesters with covered faces threw cobblestones torn from the pavement at the police, who responded with tear gas and water cannons as they slowly pushed the diminishing crowds into surrounding streets. Some protesters set fire to wood construction fencing and heaps of trash, which has gone uncollected in many parts of Paris over the past week because of an ongoing strike by garbage workers.Protesters with covered faces throwing objects at the police on Place de la Concorde in Paris, on Thursday.Alain Jocard/Agence France-Presse — Getty ImagesFrench police officers responding to clashes that erupted at Place de la Concorde.Yoan Valat/EPA, via ShutterstockThe scene at the Place de la Concorde earlier in the day was much more jovial, but also seemed to embody how fuzzy the next stage of the battle may be for opponents of President Emmanuel Macron’s pension overhaul.Thousands of protesters, along with some leftist legislators, gathered on the plaza, in the center of a giant traffic circle in the heart of the French capital. But the crowd was disorganized: Some people tried to generate momentum for a march on the nearby National Assembly, to no avail, while others chanted slogans or just stood by.Jean-Luc Mélenchon, the prominent leftist politician, arrived and then quickly disappeared.Hours after Mr. Macron’s decision to push through his plan to raise the retirement age without putting it to a vote in the National Assembly, many in the crowd expressed anger and vowed to continue fighting a measure that they say erodes a cherished part of France’s social safety net.“We will do spontaneous protests across France,” said Isabelle Mollaret, 47, a children’s librarian who held a sign that read, “Macron, you aren’t the boss. We will fight him!”Catherine Porter/The New York TimesThe protest on the Place de la Concorde already has all the hallmarks of a French demonstration. Union flags and balloons are up. Loudspeakers are blaring music. And, yes, a union truck is selling jambon-beurre sandwiches.Constant Meheut/The New York TimesUnion leaders said earlier on Thursday that they would soon call for more demonstrations, trying to extend what have already been eight nationwide mobilizations against the pension plan in the last two months.With an absence of clear organization, it was unclear whether the protests would grow into the kind of unbridled social unrest that France has sometimes experienced — such as the Yellow Vest movement in 2018 and 2019 — or would fizzle.But anger among opponents of the pension plan was growing. In the plaza, where union flags and balloons flew and music blared from loudspeakers, many people said they were committed to continue protesting against the plan — and against a government they see as having shown contempt for them.“We will do spontaneous protests across France,” said Isabelle Mollaret, 47, a children’s librarian who held a sign that read, “Macron, you aren’t the boss.” She added, “We will fight him!”Students protesting against the government’s plan to raise the retirement age to 64, in Paris, on Thursday.Lewis Joly/Associated PressA group of students chanted against Mr. Macron, calling him “president of the business bosses.” If students become deeply involved in the protest movement, that could be a bad sign for Mr. Macron’s government. In 2006, widespread student protests against a law introducing a youth jobs contract forced the government to backtrack and repeal the law — exactly what protesters are aiming for now.Still, the feeling on the plaza was one of a festival, not an angry protest. A woman handed out chocolate. Students sang. A group of women from Attac, a French anti-globalization movement, known as the Rosies, changed the lyrics of Gloria Gaynor’s “I Will Survive” to reflect an anti-Macron sentiment and led the crowd in a choreographed dance.“We are relieved because we know the fight will continue,” said Lou Chesne, 36, an energy-efficiency researcher and one of the dancers.He noted that the government hadn’t been able to collect enough votes in the Legislative Assembly to pass their law, and instead had to shoehorn it through with a special constitutional tool.“They are isolated,” Mr. Chesne said. More

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      Your Friday Briefing: Macron Pushes Through Pension Bill

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      Also, Poland says it will give Ukraine warplanes and Japan extends a hand to South Korea.Protesters gathered in Paris yesterday.Pascal Rossignol/ReutersMacron forces through retirement planPresident Emmanuel Macron pushed through contentious legislation to raise France’s retirement age — without a full vote in parliament. The decision inflamed tensions and set the stage for a no-confidence vote against his government.The move, which allows the retirement age to be raised to 64 from 62, drew calls for more protests after two months of mass demonstrations and strikes. In parliament, opposition lawmakers sang the national anthem and banged on their desks. On the streets, protesters pledged to continue the fight.Macron used a constitutional measure to enact the bill without putting it to a vote in the National Assembly, the lower and more powerful house of Parliament. The upper house, the Senate, approved the bill. Macron’s party and its allies hold only a slim majority in the National Assembly and did not have enough votes to pass the bill.The decision to avoid a vote is legal — but will be regarded by Macron’s opponents as anti-democratic. A no-confidence vote in the National Assembly is expected in the coming days, most likely on Monday, but it’s unlikely to succeed. If it did pass, it would bring down his prime minister and the cabinet, and the bill would be rejected.The confrontation over the past months has already revealed a weakened and more isolated president as he navigates his second and final term in office. It could define Macron’s legacy, especially if the right-wing politician Marine Le Pen succeeds him.Macron’s stance: He says France’s pension system is in “an increasingly precarious state” because retirees are living longer and their numbers are growing faster than those of today’s workers, whose taxes finance the system.Analysis: France’s attachment to retirement is complex, touching on its history, identity and pride in social and labor rights. The country reveres retirement and a generous balance between work and leisure. In polls, roughly two-thirds of people say they disapprove of the plan.A Polish MIG.Adam Warzawa/EPA, via ShutterstockPoland to send jets to UkrainePresident Andrzej Duda said that four of Poland’s MIG fighters will go to Ukraine “literally in the next few days.” It would be the first delivery of jets from a NATO country.Duda said that the rapid delivery of the four MIGs would be followed “gradually” by more than a dozen others that Poland has in its stocks.The delivery falls short of Ukraine’s requests for American-made F-16 fighter jets. A White House spokesman said that the U.S. still had no plans to send the warplanes, which are more advanced. “It’s not on the table right now,” he said.In other updates: The U.S. released footage of the drone incident. It shows Russian jets spraying the drone with what the U.S. described as jet fuel, but does not show a collision. Here’s the video.American officials promised to send more weapons to Ukraine, which is burning through its ammunition as it fights to hold Bakhmut. A spring counteroffensive looms.President Yoon Suk Yeol of South Korea, left, shakes hands with Prime Minister Fumio Kishida of Japan in Tokyo.Pool photo by Kiyoshi OtaA South Korea-Japan thawYoon Suk Yeol, South Korea’s president, met with Fumio Kishida, Japan’s prime minister, in Tokyo yesterday. It was the first such visit in 12 years and came amid rising threats from China and North Korea.Japan’s prime minister said he wanted to open a “new chapter” in relations between the two countries. And Japan’s trade ministry said that it was moving to drop restrictions on technology exports to South Korea, which had been imposed since 2019. It gave no specific date, but the announcement itself showed that the two countries were increasingly willing to cooperate.North Korea sent a message, too. Hours before the leaders met, the country launched an intercontinental ballistic missile for the second time in a month. South Korea said the missile, fired at a steep angle, fell into waters near Japan.Kishida: At a joint news conference, he said that he wanted to resume “shuttle diplomacy,” with high-level leaders visiting each other’s countries regularly — and that Japan and South Korea would seek to renew trilateral meetings with China.Yoon: Last week, South Korea announced that it would drop its demand that Japanese companies compensate Korean victims of forced labor during World War II.Jutharat Pinyodoonyachet for The New York TimesShare a pandemic ‘silver lining’The coronavirus pandemic has been a time of immense pain and loss. But it also made room for change. Families came back together. Toxic relationships ended. Jobs changed.We’re asking readers about the unexpected positive changes that came out of this difficult period. If you’d like to share a story of a silver lining, you can fill out this form. We may use your response in an upcoming newsletter.THE LATEST NEWSAsia PacificTikTok’s chief executive, Shou Zi Chew, is scheduled to testify before U.S. lawmakers next week. Ore Huiying for The New York TimesIn a significant shift, the Biden administration demanded that the Chinese company behind TikTok sell the app — or face a possible ban. Britain became the latest Western country to ban TikTok on government devices.Criminal prosecutions connected to Indonesia’s soccer-stadium stampede, which killed 135 people, concluded with one 18-month sentence and two acquittals for police officers. Australia’s wine market is suffering after two years of Chinese tariffs.The Global EconomyThe U.S.: Stocks closed up. First Republic Bank will receive $30 billion in deposits from other banks in an effort to restore confidence in the banking system.Asia: Markets were down, a sign that investors are still nervous.Europe: The European Central Bank raised interest rates by half a percentage point, sticking to its inflation-fighting plan. Credit Suisse is borrowing up to $54 billion from the Swiss central bank.Around the WorldPresident Isaac Herzog of Israel warned that the judicial issue could prompt a civil war.Maya Alleruzzo/Associated PressIsrael’s government rejected its president’s proposed compromise on its plan to overhaul the judiciary.The police and military in Peru used lethal force on antigovernment protesters, a Times investigation found.Covid worsened the U.S. maternal health crisis. In 2021, the deaths of pregnant women soared by 40 percent, new government figures show. The Week in CultureShuko Nakamura in her Noh-inspired mask “Okina” (2022).Bon DukeIn Japan, women are reinventing Noh masks. The theatrical craft has long been dominated by men. “Hello Beautiful,” by Ann Napolitano, is Oprah’s 100th pick for her book club.New York City’s annual festival of Asian art has returned.A Morning ReadMark Felix/Agence France-Presse — Getty ImagesSpace fashion is getting an upgrade: NASA and Axiom Space unveiled a new spacesuit made specifically for the first manned trip to the moon in more than 50 years — scheduled for 2025.“Astronauts are getting hip,” our fashion critic wrote.ARTS AND IDEASSouth Korean scientists are racing to breed strains that can thrive in warmer waters.Chang W. Lee/The New York TimesThe seaweed raceIn the age of climate change, seaweed is suddenly a hot global commodity. Long treasured in Asian kitchens, and ignored pretty much everywhere else, the marine plant is beginning to boom as a greener alternative to different materials.In South Korea, one of the most established seaweed-growing countries in the world, farmers are struggling to keep up with growing export demand. Globally, production has grown by nearly 75 percent in the past decade, and new farms have cropped up in Maine, the Faroe Islands, Australia and the North Sea. One London start-up is using it to make a plastic substitute, while in Australia and Hawaii, others are experimenting with seaweed that, when fed to livestock, can cut methane from cow burps.But some worry that the zeal to farm on the ocean may have unknown ecological risks. And seaweed itself is feeling the impact from climate change: “The water is way too hot,” a third-generation Korean seaweed farmer said. PLAY, WATCH, EATWhat to CookJulia Gartland for The New York Times Ramadan starts next week. These potato samosas are an excellent iftar option.What to ReadIn “The Lost Americans,” a New Yorker investigates her brother’s sudden death in Egypt.What to Watch“Full River Red,” one of China’s highest-grossing films of all time, weaves slapstick fun into 12th-century political murder.How to Grow“No dig” gardening is not just possible — it’s easier.Where to GoTaipei, the Taiwanese capital, is experiencing a quiet renaissance even as regional tensions rise.Now Time to PlayPlay the Mini Crossword, and a clue: Pasta, bread, etc. (five letters).Here are the Wordle and the Spelling Bee.You can find all our puzzles here.That’s it for today’s briefing. Have a lovely weekend! — AmeliaP.S. Hugh Jackman enjoyed no-yeast cinnamon rolls from Times Cooking.“The Daily” is on French protests over the retirement age.I’m always available at briefing@nytimes.com. Thank you to everyone who has emailed! More