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Lump sum

Got a pension? Act now to save it

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If you were among the 15.7 million private-sector workers with a traditional defined benefit pension plan in the U.S. in 2012, now might be good time to stop counting your blessings.

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Big change to law on union pensions

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A new law passed by Congress in December could affect more than one million union workers and retirees who are covered by union-sponsored multiemployer pension plans. The law, which is now in effect, allows the trustees of severely distressed pension plans to reduce benefits for current and future retirees — if doing so can save the plan from future insolvency.

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For some 3Mers, crowdsourcing key to pension decision

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When 3M offered to buy out defined pension plans, comparing notes online emerged as a useful tool.

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Decision on pension payout will last a lifetime

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Take the money or wait? That’s the $90,402 question The New York Times Co. has put to me as it offers to buy out my right to the lifelong monthly pension I earned when the parent of the Times newspaper also owned the Globe.

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What to consider when your company offers a pension buyout

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The old rock of retirement income — the pension — is increasingly fading from the American economic landscape.

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Senators’ De-Risking Letter Adds Weight To Growing Issue, Concerns, Observers Say

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A recent letter sent by two Senate Democratic committee leaders asking several federal agencies to develop regulatory policy on de-risking pension plans adds some heft to the issue, but there are already some regulatory provisions in the law addressing their concerns, practitioners said.

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Decision time for Boeing pension-buyout offer

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Former Boeing employees who have not yet retired have until Oct. 31 to tell the company whether they want a lump-sum check in December or a monthly annuity payment that begins the same month, or reject both options.

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ERISA at 40

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The landmark legislation that promised security in retirement has fallen far short of its expectations

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Speakers Tell Council DOL Guidance Needed To Boost Savers’ Lifetime Income Options

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A combination of guidance and online tools from the DOL on lifetime income would help retirement plan participants make good decisions about their retirement funds and investments, a speaker told the ERISA Advisory Council.

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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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