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Lump sum

PBGC holding $300 million in unclaimed pension benefits

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At a time when many Americans are worried about saving enough for retirement, nearly $300 million in pension benefits has gone unclaimed by U.S. workers and retirees.

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Will 401(k) plans keep getting worse?

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IBM, one of America's largest companies, shook the employee compensation world when it announced recently that it would contribute only once every December to its employees' 401(k) accounts. Any employee who leaves before December would not be able to collect the company's match.

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Benefits Leader Reins In 401(k)s

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International Business Machines Corp., a bellwether for employee benefits, is overhauling its retirement program to contribute once a year to employee 401(k) accounts in a lump-sum payment.

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IBM remakes its match

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If your company matches your retirement savings, that payment probably shows up on your pay stub every other week or so. This week IBM notified employees it’s changing its 401(k) match. The company will make one lump-sum payment per year. What’s the difference? Potentially, a lot of money.

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What To Do If Your Pension Is Frozen Or You're Offered A Lump Sum

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Do you now or have you ever participated in a “defined benefit” pension plan–the kind where a private sector employer promises a set monthly check based on your salary, years of service and retirement age? Are you now retired and receiving a monthly pension check?

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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. [PDF]

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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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Verizon annuity deal adds to pressure on long bonds

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Others may face shortage of quality securities

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Analysis: U.S. companies take aim at pension risk with lump-sum offers

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But by far the most common trend in corporate America is to offer lump-sum payouts to thousands of retirees now - these voluntary buyouts could cost companies millions of dollars upfront, but they eliminate the risk of obligations soaring out of control in the future.

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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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