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Traditional (defined benefit) pensions

The test of time

Blog entry

In my work here at the Pension Rights Center, one of my responsibilities is to update the list of companies that have suspended matching 401(k) contributions. This week I've had to add more than 15 companies to this list. Even worse, some of these companies are suspending matching 401(k) contributions and freezing their traditional pensions, leaving more and more workers out in the cold. More...

Three companies do "the right thing"

Blog entry

It isn't every day you that hear a company say that providing a 401(k) match is the "right thing to do" for its employees. Nope, you don't hear it that often - especially during an economic downturn that many have compared to the Great Depression. So, when I heard that Dollar Thrifty Automotive Group reinstated matching contributions to its employees' 401(k) accounts, I took notice. More...

Getting back on track

Blog entry

At the Pension Rights Center our happiest moments come when people receive their pensions, sometimes after many years of trying. Thanks to the new Worker, Retiree, and Employer Recovery Act of 2008, signed into law on December 23rd, Rose Colon, a former spouse of a railroad retiree, will finally receive her survivor annuity. More...

The match game

Blog entry

With the stock market tanking, people saving for retirement through their company's 401(k) plan have yet another reason to worry: more and more employers are suspending their 401(k) matching contributions. This means that some workers will no longer receive a dollar-for-dollar match from their employer for the money that they themselves contribute to their 401(k). More...

401(k) regrets

Blog entry

Some teachers in West Virginia have learned the hard way that traditional pensions end up paying better benefits than 401(k)-type plans. More...

Record profit yields underfunded pension

Blog entry

A recent article in Financial Week revealed a big surprise.  ExxonMobil has the most underfunded defined benefit pension plan of all the S&P 500 companies.  Yes, you read that correctly.  A company yielding record profits has neglected to adequately fund its pension plan. According to the article, the ExxonMobil pension plan was funded at just above 80 percent at the beginning of 2008. More...

New report makes the case against pension freezes

Blog entry

Look Before You Leap: The Unintended Consequences of Pension Freezes, a new issue brief from the National Institute on Retirement Security (NIRS), makes the case for why pension freezes aren't always a good idea for state and local governments. More...

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