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Lump sum

When your pension sponsor talks 'de-risking' - watch out

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A growing number of employers are making plans to "de-risk" their pension plans. That's jargon for reducing the financial risk posed to corporate balance sheets by pension plans - but if you have a defined-benefit pension and you start hearing that term tossed around, pay careful attention. Less risk for employers can mean more risk for you.

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What to do if your pension is frozen

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If you are among the few who still have a traditional defined-benefit pension plan we wish you luck. In the coming months your employer—as part of an effort to “de-risk” the plan—is likely going to offer you a lump-sum payout, an annuity, or freeze the plan.

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Corporate pension execs wary of derisking fallout

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Corporate executives are bracing for regulatory judgment calls on how they handle derisking through lump-sum payments and annuity purchases, lobbyists say.

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Gotbaum Tells Council Lump-Sum Cash-Outs Are Like Cigarettes: Legal but Bad for You

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Joshua Gotbaum, director of the Pension Benefit Guaranty Corporation, told the ERISA Advisory Council Aug. 29 that pension plan lump-sum cashouts to retirees are like cigarettes: They are legal, many people like them and they are bad for you.

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An X-ray of one affluent, educated and sophisticated investor's portfolio shows how it was chewed up by fees

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Helping an ex-Fortune 500 retiree prepare for her appearance before Congress, the author waded through a mountain of paper only to discover that the woman was likely to outlive her portfolio.

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More Plan Sponsors Intend to Offer Pension Cash-Out Option, Survey Finds

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Nearly four in 10 employers with defined benefit plans say they are at least somewhat likely to offer terminated vested participants and/or retirees a lump-sum option during a specified time period in 2013, compared with 7 percent that actually made such a move in 2012, according to survey results released Feb. 13 by Aon Hewitt.

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Aon Hewitt: Corporate plans eyeing jump through lump-sum window

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More than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by Aon Hewitt.

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McLaren Bay Region on pension miscalculation: New option being evaluated, no one will immediately be asked to repay

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McLaren Bay Region has announced it won’t immediately ask any of the retirees who were overpaid because of a pension miscalculation to pay back the money they owe.

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Heard Off the Street: Alcoa chiefs breathing sigh of relief (second item)

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Christine Zarnich of the South Side Slopes often wondered whether the 10 years she put in at Equibank entitled her to a pension. But the 62-year-old could not figure out who or where to call to find out, because the Pittsburgh bank was acquired by Integra in 1993, which was swallowed by National City in 1996, which was taken over by PNC Financial Services in 2008.

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McLaren Bay Region pension error affects hundreds of retirees

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McLaren Bay Region is working to fix an error that affected pension benefits for dozens of employees.

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