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Cash balance

Cash Balance Plans

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A cash balance plan is a pension plan that has certain features of a 401(k) plan. A number of companies have converted their traditional pension plans into cash balance plans.

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De-Risking Focuses on Business Issues; Retirement Security a Concern, Critics Say

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After Ford Motor Co. and General Motors Co. announced earlier this year that they would offer some retired and former employees a one-time opportunity to take lump-sum distributions, pension rights advocates were surprised at how quickly other large employers appeared to follow suit.

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Cash Balance Plan Ordered to Pay $18 Million for Improper Benefit Calculation

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A cash balance pension plan must pay a certified class of plan participants $18,677,671 in additional plan benefits and prejudgment interest as a result of its failure to use a whipsaw calculation in determining lump-sum distributions of participants who terminated employment before their normal retirement age, the U.S. District Court for the Western District of Wisconsin ruled Aug.

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Energy Future Holdings to terminate employee pension plan

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Energy Future Holdings said Tuesday that it will terminate pension plans for many of its employees, offering them lump-sum payments or annuities rather than a promise of future benefits.

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Why you may retire in poverty

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Are you going to retire in poverty? Today's seniors are more affluent than the general population. But the generations that follow them - starting with the baby boom generation - will not be as fortunate. The decline of pensions, the erosion of Social Security and the housing crash all are pointing toward a new crisis of poverty among lower- and middle-class seniors in the years ahead.

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Harkin's retirement plan proposal is a hit

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Sen. Tom Harkin's proposal for a universal private retirement system with professional money management was praised by several pension experts as a first step in addressing ways to improve retirement security.

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Sen. Harkin Outlines Pension Proposal Based on Privately Trusteed Hybrid Model

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Sen. Tom Harkin (D-Iowa) released a retirement security proposal July 27, saying he will formally introduce legislation next year but that he wants candidates to debate the proposal during congressional and presidential campaigns this fall.

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Expected Final Rules ‘Meaningfully’ Altered From 2010 Proposed Hybrid Rules, Iwry Says

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The Treasury Department will soon release final rules on cash balance and pension equity plans that will be significantly different from the proposed rules, a senior Treasury official said April 23 at a U.S. Chamber of Commerce briefing.

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New Ideas on Pensions: Use States

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As growing numbers of baby boomers face retirement with inadequate savings, some state officials are considering a novel proposal to rebuild America’s ailing retirement system — having state pension funds run retirement plans for companies.

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Employees to Employers: Help Us Retire

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After years, if not decades, of reports that U.S. employees don’t save enough for retirement, along comes a new study that appears to show that the minds of American workers have changed: They are now ready to save for retirement and willing to sacrifice to do so — or at least half of them are.

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