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Baby Boomers

Think you’re better off with a lump sum over a monthly pension? Think again.

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NCR Corp. Lockheed Martin and packaging firm RockTenn are among the growing number of employers who in recent years have hit tens of thousands of their workers and retirees with an enticing offer: to accept lump sum payouts, often well into six figures, in lieu of monthly pension payments.

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Unemployed today, no retirement savings tomorrow

Blog entry

Last week, I accompanied Karen Friedman to Witness Wednesday, where she spoke about the fact that too many people who have lost their jobs and whose unemployment benefits have expired have had to dip into their 401(k) savings to pay for basic needs.

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PBGC Multiemployer Guarantee Calculator

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Calculate how much your pension would be
if your multiemployer pension plan were to run out of money

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Dancing through retirement

Blog entry

I was struck by a recent Wall Street Journal article about a new craze overtaking China: retirees all across the country are “getting down,” having dance parties in parks, courtyards, and other public spaces in order to have fun and stay in shape.

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Boeing's Pension Scale Back Is a Sign of the Coming Times

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The past week has brought two ultimately related pieces of news. Boeing announced it would freeze pensions for 68,000 non-union workers and move them into a 401(k)-style retirement plan, according to Bloomberg. The change starts in 2016 and is intended to cut costs, according to the report.

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Pensions Are Top Income Source for Wealthier U.S. Retirees

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U.S. retirees with $50,000 or more in annual income are twice as likely as retirees below that threshold to say a work-sponsored pension plan is a major source of retirement funds. Instead, these lower-income retirees overwhelmingly cite Social Security as a major source of their retirement income.

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Income, Age Key Factors in Retirement Funding Expectations

Publication

Nonretired Americans' expectations about which sources they will rely on to fund their retirement differ significantly by their annual household income.

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Another look at living independently in retirement

Blog entry

Living independently is a goal for many who are approaching or thinking about retirement. While most people don't expect to move to a gated retirement community with a golf-course, they do hope to have adequate financial resources to live modestly and with dignity. How much will they need?

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Retirement plan shift is creating a generation of workers unable to retire

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Large U.S. employers continue to eliminate traditional pension plans that pay retired workers a monthly lifetime pension in favor of defined contribution and hybrid plans that offer lump-sum payments at retirement, according to a recent survey HR consulting firm Towers Watson.

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Nearly Half of Large Employers Shifting Retirement Saving Burden to Workers

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Boomers and younger workers don’t have much to celebrate in a new report on retirement plan trends among big employers. It shows that 80 percent of companies with more than 1,000 employees offer a defined benefit pension plan, but within five years, that will change. And not for the better.

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