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Traditional (defined benefit) pensions

Nation's Retirement Income Deficit Now $7.7 Trillion

News Release

Washington – Five years after it was first announced, the nation’s Retirement Income Deficit (RID) has risen from $6.6 trillion to $7.7 trillion.

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Retirement Security 2015: Roadmap for Policy Makers | Americans’ Views of the Retirement Crisis

Publication

A new nationwide public opinion research report finds that an overwhelming majority of Americans – 86 percent – believe the nation faces a retirement crisis. These findings are contained in a new research report...

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Can They Grab Your Pension?

News Item

Clawbacks become more common as plans discover they overpaid recipients.

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Got a pension? Act now to save it

News Item

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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Obama Attacks Advisors Selling Snake Oil, Lauds New DOL Fiduciary Rule

News Item

Take two. President Barack Obama today called on the Department of Labor to move forward with a proposed rulemaking to require retirement advisers to put their clients’ best interest before their own profits. It’s a rewrite of the dropped 2010 rewrite of the 40-year-old fiduciary rule. (The 2010 rewrite was withdrawn in 2011 amidst industry furor.)

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Justices Wrestle With Monitoring Duties Of 401(k) Fiduciaries During Oral Argument

News Item

Whether 401(k) plan fiduciaries in monitoring investments must look for cheaper options was the question dividing justices and litigants when the U.S. Supreme Court heard oral argument Feb. 24 in a case involving the time frame in which plan participants can challenge their plan's investment options.

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Retirees Facing Severe Pension Cuts [VIDEO]

News Item

Whit Wyatt of Washington Court House worked as a teamster truck driver for 33 years. Now Whit and his wife Barb have a comfortable retirement living on Whit's teamster pension and social security. But Wyatt is one of hundreds of thousands of union retirees who may soon see severe cuts to their monthly pension checks.

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Union retirees fear dramatic pension cuts under new federal law

News Item

Bill Hendershot and his wife live on his union pension and Social Security. Hendershot, a retired Consolidated Freightways long-distance truck driver, gets around now in a 12-year-old Toyota Corolla.

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Pension plans, once inviolable promises to employees, are getting cut

News Item

The stock market has soared more than 75 percent in the past five years, yet many pension funds, where many middle-class workers should benefit from the market’s rise, continue to struggle, jeopardizing benefits for the workers who were counting on them in retirement.

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Big change to law on union pensions

News Item

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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