Pension News

Despite rise of auto-enrollment, 401(k) participation rates stall

Financial Week – July 23, 2008
Enrollment rate for the defined-contribution plans stuck at around 76%, Deloitte finds; big bump-up coming?

Proposed rule would require employers to provide fee comparison for 401(k)s

Los Angeles Times – July 23, 2008
The Labor Department says the new regulation would reduce confusion for account holders.

Labor Dept. seeks better disclosure of 401(k) fees

Associated Press via Yahoo! News – July 22, 2008
Millions of participants in 401(k)-style retirement plans would receive more information about the costs of those programs, a move that could help boost savings, under a rule proposed by the Labor Department Tuesday.

Getting the most out of your pension

Daily Advertiser (Lafayette, LA) – July 21, 2008
If you or your spouse is eligible to receive a pension, it will figure prominently in your retirement planning. However, pension laws are complicated, so it is important to learn the facts about your company's pension plan to make sure that you obtain the benefits to which you are entitled.

Privatization plan puts pension in jeopardy

Royal Oak (MI) Daily Tribune – July 21, 2008
300 part-time employees to become employees of temporary staffing agency.

Stacked deck

MarketWatch.com – July 20, 2008
Debit card that taps 401(k) retirement savings is easy to use -- and abuse.

Another piece of the puzzle

Newsday – July 19, 2008
More companies help employees sort out their 401(k) options

Update: New Proposed Legislation on 401(k) Debit Cards

New York Times – July 19, 2008
Reserve Solutions allows customers to access their loan via a debit card at an A.T.M. or any merchant that accepts Visa.

Wal-Mart slams suit claiming its 401(k) fees are over the top

Financial Week – July 18, 2008
Retailer says price not the only consideration in choosing funds; original complaint filed against company in March.

Pentagon will recheck veterans' requests for back benefits

Plain Dealer (Cleveland, OH) – July 17, 2008
The Pentagon's accounting unit agreed Wednesday to double-check requests by more than 25,000 veterans who were turned down for back benefits, concurring with U.S. Rep. Dennis Kucinich that "a veteran deserves better."

White-collar Chrysler retiree group looks to protect benefits

Detroit News – July 17, 2008
A standing-room-only crowd of 150 Chrysler LLC white-collar retirees packed a meeting Wednesday to discuss how they can protect their remaining benefits in the wake of life insurance cuts last month by the automaker and a day after rival General Motors Corp. slashed health insurance for its former workers.

Lawmakers seek to ban 401(k) debit cards

Reuters – July 16, 2008
Debit cards linked to retirement savings accounts would be banned under a bill set to be introduced in the U.S. Senate.

Workers break retirement piggy bank in tight times

Associated Press via the Washington Post – July 16, 2008
Americans are raiding their already fragile retirement piggy banks to weather financial hardships such as unemployment, medical emergencies and buying a home.

Congress hears why DB plans are essential

Employee Benefit News – July 15, 2008
Defined benefit retirement plans are not just important to the welfare of retirees, but also represent a critical sector of the economy, panelists at a recent hearing before the U.S. Joint Economic Committee told lawmakers.

401(k) Matches May Be Targeted in Market Downturn

Workforce Management – July 15, 2008
In the last market downturn, in 2001-02, companies hit hardest—such as Ford Motor Co. and Bethlehem Steel—suspended their 401(k) matches to save money.

Women less aggressive than men in retirement saving

Investment News – July 14, 2008
They are less likely to qualify for maximum matching.

DOL unveils fee reporting guidance

Pensions & Investments – July 14, 2008
The Department of Labor today announced long-awaited guidance for reporting fees and compensation arrangements of plan service providers on the agency’s new annual 5500 reporting forms.

Stock holdings in retirement plans may require special treatment

St. Louis Post-Dispatch – July 13, 2008
Employees who hold stock or options in a company that is being bought face some interesting choices. One concerns company stock that's held in a defined contribution retirement plan, such as a 401(k).

Many Retirees Face Prospect of Outliving Savings, Study Says

Washington Post – July 13, 2008
Nearly three out of five middle-class retirees will probably run out of money if they maintain their pre-retirement lifestyles, a new study from Ernst & Young has concluded.

House Approves Smoothing Technique in Pension Bill

Workforce Management – July 9, 2008
Employers will be able to take into account expected future growth of their pension plan investments when calculating current contributions under a bill unanimously approved by the House of Representatives on Wednesday, July 9.

Rollover for retirement

Marketwatch.com – July 8, 2008
If you're switching jobs, don't be tempted to cash out your 401(k).

Do You Have a Retirement Parachute?

Barron's – July 7, 2008
Australia provides a model for a better retirement system.

In tough times, make your 401(k) a priority

Baltimore Sun – July 6, 2008
Rising gas and food prices and a stock market slump are starting to prompt people to reduce or suspend contributions to their 401(k) retirement plans.

Investors' anxiety builds as retirement nest eggs show cracks

Boston Globe – July 6, 2008
Most will find their stock and bond funds in 401(k) and individual retirement accounts sank between April and June as soaring fuel prices and woes in the financial sector dragged down markets.

Workers aren't saving enough

Associated Press via the Pittsburgh Tribune-Review – July 6, 2008
Four out of five workers aren't saving enough to maintain their lifestyles after retirement, with women being at a disadvantage because of their longer life spans and lower pay, according to a study released last week.

Bayh: What happened to RTI pensions?

Post-Tribune (Gary, IN) – July 3, 2008
Indiana Sen. Evan Bayh and 12 other U.S. senators want federal officials to investigate how the Pension Benefit Guaranty Corp. determined benefits for more than 3,000 retired steelworkers -- many from Indiana -- who recently had their pensions significantly reduced.

Goal for retirement saving rises

USA Today – July 1, 2008
With medical care and other costs soaring, the portion of their pre-retirement pay that Americans will need in retirement to keep the same standard of living is rising, financial planners say.

The best way to take a pension

Money – July 1, 2008
A life of monthly checks usually beats a big lump sum.

Make it stretch: Shaking off the lump-sum mentality in favor of annuities

Employee Benefit News – July 1, 2008
Behavior economics shows that when workers reach retirement, they prefer a lump-sum distribution. For many, purchasing an annuity is simply not that appealing. However, annuities do allow retirees to exchange accumulated wealth for a lifetime stream of guaranteed income.

401(k) fees on the front burner for DOL, Congress

Employee Benefit News – July 1, 2008
Legislators and federal agencies plan to concentrate their efforts on addressing excessive 401(k) fees, and employers can expect to see new guidance on several retirement-related topics soon.

Bankruptcy filings on rise among older Americans

Pittsburgh Post-Gazette – July 1, 2008
These are tough economic times for people of all ages, but few are affected more than senior citizens living on pensions and Social Security, and juggling medical bills, credit card payments and mortgages along with soaring food and gas costs.

The New Old Benefit

Workforce Management – June 30, 2008
While many companies have frozen their defined-benefit retirement plans, they haven't terminated them, partly because they want the option of making them available again. Some companies see the plans as a way to attract and retain talent as baby boomers retire.

More Investors Tapping Retirement Funds

Associated Press via the Washington Post – June 29, 2008
Move Puts Individuals' Long-Term Financial Health at Risk, Experts Warn.

401(k) evangelist spreads the word

The Oregonian – June 29, 2008
This guy's on a mission to save your money, and he's winning converts one by one.

Pensions and bankruptcy

Newsday – June 28, 2008
A financial advice columnist and an attorney respond to a reader's question about bankruptcy and pensions.

Study: Defined contribution plans quickly changing

Associated Press via the Washington Post – June 26, 2008
Once just a supplement to the pension system, defined-contribution plans such as 401(k)s are growing and changing fast as they evolve into a linchpin of Americans' retirement savings and offer increasingly innovative investment options, a new study indicates.

Workers asked to shoulder more of benefits burden, survey finds

Financial Week – June 24, 2008
Percentage of bosses offering DB plans still shrinking; employers also curbing medical coverage.

Building a better 401(k)

Financial Week – June 23, 2008
Everybody wants it. Nobody has it. It may not even exist. Not yet, at least. It's the Perfect 401(k)—a plan in which every worker participates, saves at adequate levels, and invests simply, appropriately and inexpensively along the way to retirement.

401(k) sponsors push for fee cuts

Financial Week – June 23, 2008
Inspired, perhaps, by liability lawsuits, fiduciaries threaten to shop around for better fund pricing

Why CFOs are hooked on pension juice

Financial Week – June 23, 2008
Contrary to expectations, DB plans aren't going away for one big reason: Corporations are addicted to pensions.

Study shows DB plans outperforming 401(k)s

Business Insurance – June 23, 2008
Defined benefit pension plans have consistently racked up higher rates of return than 401(k) plans, according to an analysis released last week.

GAO looks at DOE pension, retirement benefits

Tri-City Herald (Kennewick, Pasco, and Richland, WA) – June 23, 2008
In response to its large and growing pension and retirement liabilities for contractor employees, DOE moved in 2006 to require new benefit packages for new employees.

Divorce, debt complicate 401(k) question

Deseret News (Salt Lake City, UT) – June 22, 2008
Saving for retirement can be challenging, but throw a divorce and some debt into the mix, and it gets almost impossibly complicated.

Court order needed to split retirement accounts in divorce

Chicago Tribune – June 22, 2008
Columnist responds to a reader's question about her ex-husband's 401(k).

For a Good Retirement, Find Work. Good Luck

New York Times – June 22, 2008
The emphatic conclusion of recent research into retirement policy and labor markets is that working another two or three years would have a surprisingly powerful impact on the retirement living standards of millions of boomers and on the economy.

We must not be retiring about our debt to society

Chicago Tribune – June 22, 2008
Most Americans have no clue how much they will need in retirement, or how to make it last. That's a big problem for folks in their 50s and 60s, but it could be an even bigger problem for those who eventually will have to support them.

How Well Are We Handling Our 401(k)s?

WebCPA – June 20, 2008
Financial Engines, which provides independent investment advice and managed accounts, has released The Financial Engines National 401(k) Evaluation, a new report that assesses 401(k) participant portfolios to determine how well Americans are handling their plans.

New retirement mentality

Colorado Springs Business Journal – June 20, 2008
Odds are that you know you won’t retire the day you turn 65, nor are you planning to collect a pension.

US court rules against MetLife in benefits case

Reuters – June 19, 2008
The Supreme Court sided against MetLife Inc on Thursday, ruling that insurance companies or employers have a conflict of interest when they both decide claims under employee benefit plans and pay the benefits.

Bush signs new military tax breaks into law

Army Times – June 19, 2008
New law includes provisions that improve pensions.

Picking Out a Job for the Pension [blog entry]

U.S. News & World Report – June 19, 2008
When Luann Alshiemer, 49, of Utica, N.Y., chose to become a police officer, she was already thinking about the retirement options.

Study Finds Pension-Plan Returns Top 401(k)s in Rally

Bloomberg News – June 18, 2008
Pension-plan returns outperformed 401(k) retirement accounts from 2003 to 2006, the most recent bull market, according to a study.

Those that do save don't save wisely

Chicago Tribune – June 17, 2008
A recent study of 1 million 401(k) accounts by pension investment advisers Financial Engines shows Americans are betraying their futures in two ways: many aren't saving enough, but the majority is doing such a poor job of investing they aren't giving their hard-earned savings a chance to bulk up.

Bankruptcy rising among seniors

USA Today – June 16, 2008
Swamped by debt and rising medical bills, elderly Americans have been seeking bankruptcy-court protection at sharply faster rates than other adults, a study to be released Tuesday indicates.

Should you leave retirement funds at old job?

McClatchy-Tribune News Service via the Orlando Sentinel – June 15, 2008
Workers who get laid off must decide whether to take their retirement plan with them or leave it with their employer.

A Few Final Thoughts On Planning For Retirement

Washington Post – June 15, 2008
The new retirement landscape requires us to take on a job once handled by professionals. We now play a larger role ourselves ensuring that we will have adequate resources.

To retire, you'll need $1.25 million

Newsday – June 15, 2008
The cost of living in retirement depends on variables that range from where and how long you'll live (and how healthy you are) to future inflation and tax rates. But for anybody, retiring at 56 is a very expensive proposition.

You're Saving Enough for Retirement (Probably)

Slate – June 14, 2008
Don't worry—you won't have to live on ramen and cat food.

New 403(b) Rules Shake Up Market

Dow Jones Newswires via CNN/Money – June 13, 2008
Beginning in 2009, the Internal Revenue Service will require employers to take a more active role in monitoring and administering 403(b)s, the retirement-savings plans for employees of educational institutions and certain nonprofit groups. The changes are meant to provide more centralized oversight and accountability.

Gannett Freezes Employee Pensions, Ups 401(k) for Many

Editor and Publisher – June 11, 2008
Gannett this afternoon announced it is freezing the pensions of company employees, according to sources at several newspapers, who said a memo on the plan was sent today from Gannett CEO Craig Dubow.

Nationwide, Lockheed Employees Benefit From `Automatic' 401(k)s

Bloomberg News – June 10, 2008
Lockheed Martin Corp. and Nationwide Financial Services Inc., two of the companies that have used a 2006 pension law to encourage retirement savings, said more than 90 percent of employees are now enrolled in their 401(k) plans.

Surplus hits $111 billion

Pensions & Investments – June 9, 2008
P&I review shows top 100 corporate plans remain overfunded thanks to PPA, rate drop.

Supreme Court rejects AT&T's appeal in early retirement pension benefits case

Associated Press via Yahoo! – June 9, 2008
The Supreme Court on Monday rejected AT&T Inc.'s appeal of a lower court's $31.2 million verdict against the company in a class action lawsuit over retirement benefits.

Pension restructuring cuts deep into steelworkers' pockets

Chicago Tribune – June 9, 2008
Richard Wyers is an unintended victim of a steel company's reorganization after promising benefits it couldn't afford, and a federal policy that cheated him out of his 30-year pension by a matter of weeks.

Hybrid pension plans poised for resurgence

Financial Week – June 9, 2008
Now that the legal and regulatory uncertainties surrounding such plans are being resolved, more companies are likely to sign on.

It's becoming easier for tech workers to get lost on road to retirement

Austin American-Statesman – June 8, 2008
IPO market isn't as dependable as it once was.

Employer's plan not necessary for retirement savings IRAs allow do-it-yourself retirement savings

Chicago Tribune – June 8, 2008
You may think that saving for retirement starts when you land a job with a defined-contribution plan, such as a 401(k) or 403(b). But even without this benefit, you can build retirement savings on your own.

More dip early into funds for retirement

Boston Globe – June 6, 2008
Hardship withdrawals can cause long-term jeopardy.

Don't Let the Rules Overtax Your Retirement

BusinessWeek.com – June 5, 2008
When planning for retirement, make sure you know how these rules could change your financial picture after age 70

Forum addresses financial security in retirement

Post-Standard (Syracuse, NY) – June 4, 2008
AARP seeks to launch a national dialogue to force politicians to take action.

State plans sought to save for retirement

Chicago Tribune – June 3, 2008
In Chicago last week, Midwestern state government leaders and advocates for low-income people discussed strategies about plans that would be acceptable to small employers.

401(k) plan sponsors must observe IRS, Labor Department rules

Los Angeles Times – June 2, 2008
Many small-business owners don't realize there are procedures and paperwork for employees who withdraw from or borrow against their 401(k) accounts.

A System That Needs to Be Retired

Washington Post – June 1, 2008
There are some bad consequences from the growth of defined-contribution plans, and a lot of thought is going into the search for solutions. One effort underway is to make retirement savings plans, which is another name for defined-contribution plans, look more like traditional pensions.

Rollover confusion: Uncertainty over nonspouse rollovers from retirement plans

Employee Benefit News – June 1, 2008
It's now back up in the air whether employers must allow nonspouse rollovers from company retirement plans in 2008.

When to Accept a Job Buyout

Kiplinger's Personal Finance – June 2008 issue
Consider the severance package, health benefits and pension payments.

DOL regs most likely route to PPA fine-tuning

Employee Benefit News – June 1, 2008
Despite high marks for hitting major policy objectives, the Pension Protection Act of 2006 needs refinements that will more likely be delivered through Department of Labor regulations than additional legislation, according to industry analysts.

OPM Halts Work on Retirement Calculator

Washington Post – May 30, 2008
The Office of Personnel Management sent a "stop work" letter to the contractor developing a software system to calculate retirement benefits for federal employees, officials said yesterday.

Let's Stop Pretending that Pensions Don't Matter

Huffington Post – May 29, 2008
Opinion piece by the Chairman of the Board of Directors, Federal Reserve Bank of Richmond.

Retirement 401(k) Debit Cards Are Costly, FINRA Says

Bloomberg News – May 29, 2008
Using a debit card to take cash from your 401(k) retirement plan may generate hefty fees and trigger duplicate taxes, the main U.S. brokerage regulator said.

Reservist Benefits Measure Heads to Bush

Business Insurance via Workforce Management – May 29, 2008
Employers that make up the difference between military pay and regular pay for employees called up from the reserves for active service will have to factor that compensation into retirement benefits calculations under legislation that received final congressional approval last week.

Retirees' pensions slashed

Chicago Tribune – May 29, 2008
Hundreds of retired steelworkers from the former Republic Technologies International are being notified their pensions will be cut, in some cases by as much as 75 percent, to less than $300 a month, due to new calculations by the federal agency that guarantees employer-paid pensions.

Saving While Serving

Washington Post – May 29, 2008
Six years ago, Congress opened the Thrift Savings Plan to military personnel and other uniformed services. It is proving to be one of the government's quiet success stories.

Boomer retirement blues

Capital Times (Madison, WI) – May 28, 2008
Unfortunately, the shift from company-managed pensions to individual accounts like the 401(k) or IRA means most Americans have their retirement security tied to Wall Street.

Check plan for rollover details

Providence Journal – May 27, 2008
Financial advice columnist answers a reader's question about withdrawing money from a 401(k) to put into an IRA.

401(k) fees are on the front burner for DOL, Congress

Employee Benefit News – May 27, 2008
Legislators and federal agencies plan to concentrate their efforts on addressing excessive 401(k) fees, and employers can expect to see new guidance on several retirement-related topics soon.

Sugar workers say company cheated them on pensions

International Herald Tribune – May 27, 2008
Workers at U.S. Sugar thought they were getting a good deal when the company shelved their pension plan and gave them stock for their retirement instead. Now that many U.S. Sugar workers are reaching retirement age, though, the company, the largest U.S. producer of cane sugar, has been cashing them out of the retirement plan at a much lower price than an outside investor offered for their shares.

Bill Seeks to End Salary Penalty for Rehired Retirees

Washington Post – May 21, 2008
Currently, the salaries of retirees are reduced by the amount of their pension during their period of re-employment. In some scenarios, a retiree could return and be working for free. 

Debt-squeezed Gen X saves little

USA Today – May 20, 2008
The Gen Xers, generally defined as those born from 1965 through 1980 — now 27 to 43 years old — have even less assurance than the boomers of receiving company pensions and projected Social Security benefits.

Get on top of your 401(k)

Dallas Morning News – May 19, 2008
Taking care of your account instead of leaving it on autopilot.

Americans worry about funding a long retirement

Associated Press via the Washington Post – May 19, 2008
Americans worry that inflation and the rising cost of health care are increasing the risk that they will run out of money in retirement, according to a study released Monday by the Society of Actuaries.

Workers resist raiding retirement plans, for now

Associated Press via Times of Trenton (NJ) – May 18, 2008
Retirement plan administrators say they are not seeing a large-scale move by employees to reduce their contributions to 401(k) plans. But investment advisers say more people may consider cutting back on retirement savings if the economic doldrums continue.

Safe Ways to Spend The Nest Egg

Washington Post – May 18, 2008
Research by the Investment Company Institute, the trade association for mutual funds, found that seven out of 10 owners of traditional IRAs say it is unlikely they will make withdrawals prior to age 70.5.

The incredible shrinking nest egg

USA Today – May 16, 2008
Like millions of other people, Patty Stewart is counting on her 401(k) and her home equity to pay for retirement. But since the start of the year, the value of her 401(k) has fallen about 4%, and rising consumer prices have forced her to reduce her contributions to it.

How to tune up your 401(k) plan as economy struggles

USA Today – May 16, 2008
Many financial analysts think we're headed for a long period of below-average market returns, with stocks producing smaller gains than investors have enjoyed in the last couple of decades.  If so, it will be more important than ever to save as much as you can for retirement.

Agency vows to protect Delphi pensions

Detroit News – May 13, 2008
PBGC says it will act quickly to shore up plans; auto supplier won't renew IRS waiver.

Prepare for a Gruesome Retirement

Motley Fool – May 13, 2008
According to the 2008 Retirement Confidence Survey (RCS), many Americans will have gruesome retirements

Effective 401(k) fee reform needs plain and simple language

MarketWatch.com – May 13, 2008
Congress can change the rules on 401(k) fee disclosure, but until consumers start reading more information and employers know how to supply it, the effort is akin to putting a bow on a pig and saying it's the Easter Bunny. It's not going to deliver the goods.

Study: Retirement savers make costly 401(k) mistakes

Associated Press via the Washington Post – May 12, 2008
Despite extensive efforts to educate workers about saving for retirement, many employees are not doing a good job of managing their company-sponsored 401(k) accounts, a new study indicates.

The prophet of pensions

Los Angeles Times – May 11, 2008
America failed to heed Walter Reuther's ideas for a social safety net. But we may get a second chance.

Women owe it to themselves to save for retirement

St. Louis Post-Dispatch – May 11, 2008
For many women, saving for retirement ranks behind a host of other obligations, such as paying rent, buying a house or funding the education of their children.

Congress needs to rescue retired area steelworkers from pension take-back

Morning Journal (Lorain, OH) – May 11, 2008
Editorial: The harsh surprise that hit more than 1,000 retired steelworkers here is unconscionable.

Pensioners faced with benefit cuts, paybacks

Plain Dealer (Cleveland, OH) – May 10, 2008
More than 1,150 retirees of the former Republic Technologies International plant in Lorain have been told their pensions will be cut, in some cases drastically. At the same time, many retirees will have to return money that the Pension Benefit Guaranty Corp. now says they were not entitled to receive. For some, those paybacks are in the tens of thousands of dollars.

Real victim of pension underfunding? Future earnings, says UBS

Financial Week – May 9, 2008
Ford and Goodyear face biggest shortfalls; GM, Kodak enjoy largest surplus.

Be Certain You Get the Pension You've Earned

ElderLawAnswers.com – May 8, 2008
Are you having difficulty getting the pension or 401(k) plan funds you worked years to earn? Five pension counseling projects serving plan participants and their beneficiaries in 22 states can help.

Path to retirement has pitfalls for women

USA Today – May 8, 2008
The economic slowdown has made it harder for many people to keep up their pace of saving for retirement. But women, especially, can find it difficult in tough times to invest enough to ensure a secure retirement.

Pension take-back 'nightmare' for steel plant retirees

Morning Journal (Lorain, OH) – May 7, 2008
More than 1,000 steel plant retirees have learned that their pension benefits were overpaid for years by the Pension Benefit Guaranty Corp. The overpayment will be collected by a 10 percent reduction in their benefit rate, further decreasing their monthly check.

IBM to increase pension payments for some retirees

Poughkeepsie Journal – May 6, 2008
The increase will affect about 42,000 retirees who retired before 1997. About half of those who retired before 1997 will be eligible. The goal is to raise payments to those who were not able to participate in the 401(k) plan.

Retirement Plans Shrink as Economy Falters

Morning Edition – May 5, 2008
More and more older workers are opting to stay on the job rather than retire. For some, it's a matter of choice. For others, the uncertain housing market and shrinking returns on retirement funds make retiring a difficult prospect.

Retirement could be a mouse click away

Chicago Tribune – May 4, 2008
Thousands of federal employees are becoming eligible to initiate their retirement from the government online, and many private employers are already there, employee benefits experts said.

Roth 401(k) gives employees another retirement savings option

St. Louis Post-Dispatch – May 4, 2008
For a small but growing number of employees, there's a somewhat more bewildering decision to make: whether to choose a regular plan or a Roth plan.

Consider financial future before accepting a buyout

Chicago Tribune – May 4, 2008
An employee buyout can lead to the best of times or the worst of times.

401(k) plan fees are on everyone's lips at P&I conference

Pensions & Investments – May 2, 2008
DC regulation, legislation and the November election also hot topics.

Safeguard Your Retirement in Hard Times

BusinessWeek – May 2, 2008
Take these steps to protect your golden years: Cut expenses, consider refinancing, and make yourself indispensable at work.

Suit says service cost vet his job

Miami Herald – May 1, 2008
Worker was eight months away from reaching his 25th year of service with the company and qualifying for a $300,000 lump-sum pension payment.

Courting Disaster

CFO.com – May 1, 2008
Confusion over 401(k) plan fees is trig gering lawsuits and congressional inquiries. What can plan sponsors do to head off trouble?

New regs impact 403(b)s

Employee Benefit News – May 1, 2008
As traditional pension plans are increasingly being replaced by defined contribution plans, retirement income plan providers will need to adjust their tactics in order to keep up with the ever-changing retirement landscape.

In debate over 401(k) fee disclosure, some say retirement savers are being sold short

MarketWatch.com – April 30, 2008
Make no mistake about it. A law requiring firms to disclose the fees they charge workers in 401(k) plans will very likely become reality sometime soon. But what the final law will look like -- there's a House and Senate version at the moment -- is still unknown.

Source of GM payments concern retirees

Janesville (WI) Gazette – April 30, 2008
With retirement and buyout packages on the table for 74,000 hourly General Motors workers, a group of retired Janesville employees is concerned that incentive payments could affect the long-term security of all GM retirees.

5 Mistakes That Will Sink Your Retirement

U.S. News & World Report – April 29, 2008
As you near your goal, avoid these poor choices.

Barclays’ retirement forecast: gloomy

Investment News – April 29, 2008
After revisiting the data from which many economists extracted a relatively benign retirement forecast for most Americans, Barclays Global Investors has come up with a grimmer prediction.

More companies offer Roth 401(k)s, but complexity remains a concern

Financial Week – April 28, 2008
After an initially cool reception, more corporations are beginning to offer employees the option of saving for their retirement in a Roth 401(k) plan.

Recent EEOC ruling confusing to retirees

Star Tribune (Minneapolis, MN) – April 27, 2008
Reader asks about an EEOC ruling that allows companies to reduce benefits.

Stalwart of Retirement Planning: The I.R.A.

New York Times – April 27, 2008
Financial experts say that one often-overlooked resource is the humble Individual Retirement Account, or I.R.A., which has been a part of the personal finance landscape for so long that many of us take it for granted.

Banking official sees end of pensions within years

Worcester (MA) Telegram & Gazette – April 25, 2008
The chairman of the board of directors for the Federal Reserve Bank of Richmond, Va. told attendees at the Association of BellTel Retirees annual meeting that social upheaval is possible without protections for worker benefits.

State Senate Votes To Create Retirement Program

Hartford (CT) Courant – April 25, 2008
In a bold plan that would be the first in the nation, the state Senate voted Thursday to create a state-sponsored, voluntary retirement program to help businesses with fewer than 100 employees.

Plan to open up CalPERS reflects worry about inadequate saving for retirement

Sacramento Bee – April 25, 2008
Plan would let private businesses and workers funnel direct payroll deposits into a retirement investment account. The California Public Employees' Retirement System would administer the pooled money.

Airlines feeling the pressure

Star-Ledger – April 25, 2008
Continental memo urged pilots to conserve fuel and consider the effect of carrying extra fuel on their pensions and profit-sharing. 

GE meeting puts Erie on national stage

Erie (PA) Times-News – April 24, 2008
A number of local retirees pressed GE to contribute to funding their pensions and pressed CEO Jeffrey R. Immelt to institute an annual cost-of-living increase.

The plan to save early retirement

Money – April 23, 2008
Economist Teresa Ghilarducci argues that we needn't be chained to our desks forever.

Make 401(k) fees transparent

Los Angeles Times – April 21, 2008
Editorial: Workers, who often don't know how much of their money goes to fees, deserve this House bill.

House panel advances 401(k) disclosure bill

Business Insurance – April 21, 2008
Although a bill that would require greater disclosure of 401(k) plan fees is unlikely to become law this year, the issue is expected to remain in the forefront as lawmakers become increasingly concerned about the viability of the plans that have become the mainstay of most retirement income.

A Roadmap to Your Fees

Kiplinger's Personal Finance via the Washington Post – April 21, 2008
Retirement plan expenses can whittle away at the money in your long-term savings accounts. But how do you tell what your 401(k) fees really are?

Making Your Money Last as Long as You Live

New York Times – April 21, 2008
Even for people who have built up a decent nest egg, deciding how to use it is one of the demands of early retirement.

Longtime labor activist keeps on with GE fight

Daily Gazette (Schenectady, NY) – April 20, 2008
Helen Quirini, who retired from General Electric in 1980 after working in the factory for decades, is a longtime labor activist who wears two hats: She is president of the retiree council for IUE-CWA Local 301, the union that represents workers at the GE plant in Schenectady, and also co-founded the GE Justice Fund, which coordinates 15 GE retiree councils throughout the country.

Women Pathfinders of the '70s, Falling in a Pension Gap

Washington Post – April 20, 2008
Women on the leading edge of the baby-boom generation are also at the forefront of other trends -- ones that may work to their detriment in retirement.

Market Turmoil Has Taken a Toll on Big Pension Funds

New York Times – April 17, 2008
America’s biggest pension funds lost ground in the first quarter and are likely to require larger contributions from their corporate sponsors this year, joining the ranks of homeowners, lenders and others hurt by the recent turmoil in the financial markets.

Bank's stock losses gut workers' retirement plans

Plain Dealer (Cleveland, OH) – April 15, 2008
With the spotlight shining on National City's troubles, many older employees stand in the shadows, fearing for their own futures.

Generation X glum on retirement prospects: survey

Reuters – April 14, 2008
Baby boomers say they are worried about achieving a comfortable retirement, but a new study suggests Generation X is even more pessimistic.

Zero in on the best 401(k) options

St. Louis Post-Dispatch – April 13, 2008
In my not-so-humble opinion, the movement away from the traditional defined pension plans — where employers set money aside and promise workers a specific retirement plan — is dangerous.

Small Change in Pension Bill Could Make a Big Dollar Difference

Workforce Management – April 11, 2008
The House and Senate are trying to settle on a final bill for technical corrections to the Pension Protection Act. Most are minor, but one drawing fire centers on an accounting technique called smoothing.

Workers Worry Over Retirement Readiness

Associated Press via the Washington Post – April 9, 2008
Rising health care costs and the faltering economy are making consumers worry that they won't be able to save enough for a comfortable retirement.

Retiring soon? Not so fast

Kansas City Star – April 9, 2008
Even if you’re saving for retirement, you’re probably not saving enough.

The best new features of a rich 401(k)

Money – April 8, 2008
Here are the 5 best features right now - and the most promising approach to getting your plan to adopt them.

The Great 401(k) Debate

Maryland Daily Record – April 6, 2008
Nearly two months after the Supreme Court lifted a ban that kept Maryland employees from suing their 401(k) plan administrators, lawyers here are still divided over the ultimate impact of the case.

Pensions fade, but the needs don't disappear

Star Tribune (Minneapolis, MN) – April 6, 2008
Unless we are prepared to deal with the consequences of a nation of retirees struggling to make ends meet, we need to bolster the support structures that help people take on their new responsibilities and make smart choices.

Are your retirement savings in a Free fall?

Pittsburgh Post-Gazette – April 6, 2008
As economic conditions worsen on Wall Street and Main Street, many worry about running out of money.

Taking responsibility for your own retirement

Newsday – April 5, 2008
Why should we or the government care about protecting the retirement of people who have not taken the responsibility of providing for themselves?

Retirement dreams of airline workers shattered

Newsday – April 5, 2008
The retirement dreams of an unsettled generation of airline workers in their 40s, 50s and 60s on Long Island have been imperiled - and their pension jeopardized - by the woes of the airline industry.

'You're on your own,' IRA guru tells boomers

Kansas City Star – April 5, 2008
The 218-page financial makeover plan outlined Monday by Treasury Secretary Henry Paulson does not adequately encourage savers to use individual retirement accounts or other plans to make up financial shortfalls caused by expected increasingly lean pension and Social Security benefits.

Uncover hidden 401(k) fees

MarketWatch.com – April 3, 2008
It's tough enough to save for retirement without having to sweat over hidden fees in your 401(k). But if you are overlooking a "leak" in your pension plan, it can dribble away thousands of the dollars you'll be depending on for a comfortable retirement.

Retirement plan mistakes to avoid

Portsmouth (NH) Herald – April 2, 2008
A certified financial planner offers advice on handling taxes on retirement income accounts.

Workers, Employers Adjust to Phased Retirement

Morning Edition on NPR – April 2, 2008
Phased retirement poses challenges for workers and companies, but it could be crucial to retaining a talented workforce.

AARP report cites misperceptions about Baby Boomers

Associated Press via the Oakland (MI) Press – April 2, 2008
A new report from the AARP disputes some prevailing myths about the swelled ranks of the generation born between 1946 and 1964.

Experts trumpet DB plans as better for economy, retirement security

Employee Benefit News – April 1, 2008
The movement toward the adoption of defined contribution plans and away from defined benefit plans could ultimately impact the economy and leave older workers with insufficient retirement funds, some industry experts argue.

Remarriage, Federal Pension Benefits and Lawyers

FedSmith.com – April 1, 2008
If you are eligible for a federal retirement pension and get divorced, you may find that you will continue to interact with your former spouse long after the divorce has become effective.

Employers owe employees 401(k) contributions

Employee Benefit News – April 1, 2008
Commentary by the president of Retirement Solutions LLC and the president of the 401khelpcenter.com.

The Loan Danger

CFO.com – April 1, 2008
Borrowing from 401(k) accounts can be a bad deal all around.

Is your pension secure?

Consumer Reports – April 2008
Probably, but it could be smaller than you expect.