PRC Perspectives Blog

Can we call it a comeback...for DB plans?

Posted by Joellen Leavelle on April 03, 2012

I hope so. According to a newly-released Towers Watson survey, it looks like defined benefit pension plans are making a comeback – especially among younger workers.

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Tags: 401(k) plans, Baby Boomers, Demographics, ERISA, Future retirement security, Pension freeze, Plan termination, Youth |

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Relying on tonight’s Mega Millions jackpot to fund your retirement?

Posted by Joellen Leavelle on March 30, 2012

Looking for ways to finance your retirement? If you’re like Jason Schutz of St. Cloud, Minnesota and you only have a 401(k) plan, you might have bought a lottery ticket for tonight’s record-breaking $640 million Mega Millions jackpot.

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Tags: 401(k) plans, Future retirement security, Retirement USA |

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To expand retirement security, a look to the states

Posted by Karen Friedman on March 28, 2012

There is a movement afoot to use the efficiencies of public retirement systems to administer new types of pension plans for private-sector workers.

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Tags: Baby Boomers, Delaying retirement, Future retirement security, Public pension plans |

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The latest on American Airlines

Posted by Nancy Hwa on March 14, 2012

Most American Airlines employees can breathe a sigh of relief (sort of), now that the company has announced that it would not seek to terminate three out of four of its pension plans as part of its bankruptcy reorganization. Rather, the company will freeze those plans, meaning that employees will stop earning benefits after a certain date.

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Tags: Baby Boomers, Bankruptcy, ERISA, Future retirement security, PBGC, PBGC limits/ guarantees, Pension freeze |

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Setting the record straight: Saint Peter’s University Hospital’s pension plan

Posted by Joellen Leavelle on February 29, 2012

A new PRC fact sheet refutes claims made by Saint Peter’s University Hospital (SPUH) that its pension plan is a church plan and has never been subject to federal law.

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Tags: Activism, Church pension plans, Loopholes in the law |

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The problem with Mitt Romney's IRA

Posted by Joellen Leavelle on February 02, 2012

In the last few weeks Mitt Romney’s Individual Retirement Account has come under intense scrutiny because of the amount of money he has stashed away in it.The Wall Street Journal estimates the value of Romney’s IRA to be somewhere between a whopping $20 million and a staggering $101.6 million.

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Tags: Baby Boomers, Congress, Contribution limits, Future retirement security, IRAs, Statistics, Tax expenditures |

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Is a 401(k) match really “free money”?

Posted by Joellen Leavelle on January 13, 2012

This week’s issue of Time features an article by Stephen Gandel called “How 401(k)s Make Many Americans Poorer.” It sheds light on a new study conducted by the Urban Institute and published by the Center for Retirement Research. The study finds that employees at companies that provide an employer match to 401(k) contributions tend to have lower salaries than employees at companies that do not contribute to employee retirement plans.

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Tags: 401(k) match, 401(k) plans, Future retirement security, In case you missed it, Saving for retirement, Statistics, Tax expenditures |

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[UPDATED] American Airlines’ bankruptcy – what does it mean for its pensions?

Posted by Nancy Hwa on December 14, 2011

No doubt you’ve heard that American Airlines has filed for bankruptcy. The airline has four underfunded pension plans, and their fate is the source of much speculation. Despite meetings the company has held with employees to discuss their pensions, workers remain concerned.

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Tags: Bankruptcy, Benefit calculation, Contribution limits, ERISA, Future retirement security, PBGC, PBGC limits/ guarantees, Pension freeze |

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Is your pension plan having a religious conversion? Here's what you can do.

Posted by Joellen Leavelle on December 01, 2011

Have you received a notice informing you that your pension plan is seeking approval from the Internal Revenue Service to convert to a “church plan”? Here’s what this means to your retirement – and what you can do about it.

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Tags: Activism, Church pension plans, IRS, PBGC, Plan termination, Traditional (defined benefit) pensions |

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Have seniors gotten rich at the expense of young adults?

Posted by Jane Smith on November 21, 2011

You might think so if you read some recent stories in the news about wealth differences among generations. But you may want to think again.

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Tags: Baby Boomers, Delaying retirement, Demographics, Future retirement security, Poverty, Statistics, Working longer, Youth |

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Looking for help with your retirement plan?

If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now.

PensionHelp America connects people who need help with their pension, 401(k), and other retirement plans with the pension counseling projects, legal services providers, and government agencies that can help answer their questions. Visit www.pensionhelp.org.

Retirement USA

Retirement USA is a national initiative that is working for a new retirement system that, along with Social Security, will provide universal, secure, and adequate income for future retirees. Visit the website.

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Tell Congress: My pension is important!

Now is the time to tell members of Congress that your pension is important to you. Take a few minutes to send an e-mail to your members of Congress asking them to take steps to protect your retirement security.

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Did You Know?

An annuity is a pension benefit that is paid out in a specific amount over a set period of time. Annuities typically last for the lifetime of the participant, or the lives of both the participant and his or her spouse, depending on the type of annuity selected. Joint-and-Survivor and Single-Life are types of annuities.