Pension News

An Associated Press story appearing in the Washington Post this week carries disturbing news about the deteriorating financial health of older Americans.

According to an analysis by the Consumer Bankruptcy Project, which studied bankruptcies filed between 1991 and 2007, the bankruptcy filing rate has risen dramatically for Americans over the age of 55, with the oldest age group having the greatest increase.  (more…)

Every day I receive calls from workers and retirees who need help with their pensions.  Often, the people I speak to are looking for lost pension income that their employers promised would arrive at a critical time in their lives - retirement.  These callers may be having trouble locating their pensions or finding out if they are even eligible to receive benefits. (more…)

Earlier this week, the Wall Street Journal published a shocking exposé about how companies are using pension plans - which are intended for rank-and-file workers - to covertly fund the executive benefits of their highest-paid officers.

WSJ journalists Ellen Schultz and Theo Francis report that “At a time when scores of companies are freezing pensions for their workers, some are quietly converting their pension plans into resources to finance their executives’ retirement benefits and pay.” (more…)