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Retirement savings raided by 35% of laid-off workers

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The number of displaced workers has risen dramatically since the start of the Great Recession, and this year a third of them had to raid retirement savings to make ends meet.

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Americans borrow heavily from 401(k)s but loan defaults are up

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The default rate on 401(k) loans hit 17.4% in the 12 months through May, compared with 9.7% in mid-2008, before the financial crisis.

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America’s Looming Pension Shock

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At a recent Governing Leadership Forum in Lansing, Michigan Budget Director John Nixon told a packed room about Gov. Rick Snyder's plans to overhaul his state's public-pension system. Michigan's governor is, of course, far from alone in trying to deal with the public sector's pension crisis.

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Many Experience Challenges Regaining Employment and Face Reduced Retirement Security

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The number of workers age 55 and over experiencing long-term unemployment has grown substantially since the recession began in 2007. This raises concerns about how long-term unemployment will affect older workers’ reemployment prospects and future retirement income.

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The Future of Retirement? 401(k)s That Look Like Old-Fashioned Pensions

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One of the biggest flaws in most people’s retirement plan is something that previous generations rarely worried about: monthly income guaranteed for life. But the fix is in, and before long your 401(k) may look a lot more like your dad’s pension.

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49% of Americans saving zilch for retirement

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America has a serious problem saving for retirement. About 49% of Americans say they aren't contributing to any retirement plan, according to a new survey conducted by LIMRA, a trade association for the financial services industry.

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The retirement savings crisis

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The state of retirement savings in America is in big trouble. According to Fidelity Investments, the average 401(k) balance among its 11.8 million accounts increased to $74,600 at the end of the first quarter 2012, a 62 percent increase since the end of the first quarter 2009. While it's good news that balances are up, the number of accounts is alarmingly low for such an industry giant.

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Minorities' Retirement Plans Hit Hard In Tough Economy

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Continued economic uncertainty has led many workers to dip into their retirement savings, but minorities have been the hardest hit, according to a report by the Ariel Education Initiative (a nonprofit affiliate of Ariel Investments) and the human resources company Aon Hewitt.

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Median 401(k) Balance Down to $23,000

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At the peak of his retirement savings, around 2006, John Taylor had about $66,000 in his employer-sponsored 401(k) -- until the recession and a chain of unexpected events drained his fund completely.

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My Faith-Based Retirement

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My 60th birthday is less than a week and a half away, and if there is one thing I can say with certainty it’s that 60 is not the new 50.

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