Month: May 2011
Fight heats up over DOL definition of fiduciary
As federal regulators put the finishing touches on a broader definition of fiduciaries, legislators and lobbyists are increasing their efforts to send it back to the drawing board.
Tough times cause second thoughts about retirement
Just how are people older than 50 doing with their retirement savings? In a recent survey sponsored by the AARP Public Policy Institute, things are not so rosy, even for those who were steadily employed during the last three years.
Annuities in retirement plans remain rare
Years after they were first launched, in-plan annuities meant to help retirement-plan participants turn their nest eggs into regular income streams remain fairly rare.
Baby Boomers Fear Retirement Years
Retirees and workers on the verge of retirement have many concerns about their continued financial security.
Retirement And The Recession: Savings Destroyed For One Out Of Four Older Workers, Says AARP Survey
Workers older than 50 are gloomy about retirement after getting beat up by the Great Recession, according to a survey released Tuesday by AARP’s Public Policy Institute.
Retirement under attack
Look out, people, Congress is launching an all-out attack on the retirement security of current and future retirees. Under the guise of cutting federal and state budget deficits, there is a an all-out assault on Social Security, Medicare and public pension plans – all programs that are central to providing economic well-being to millions of Americans. […]
Pension detectives help pin down retirement benefits
For 12 years, Joanne Parke was an auto delivery driver and yard foreman, helping shuttle hundreds of new Volkswagens, Porsches and Audis from the Port of Oakland. But 25 years later, when she applied for her Teamsters union pension, no one had heard of her.
Employees Win New Benefit Protections
A new Supreme Court ruling makes some of the most significant changes in laws governing employee benefits in nearly two decades, though groups representing employers and employees disagree over who really comes out the winner.
The “happiest place on earth” doesn’t have retirement security
It appears that Mickey Mouse and Donald Duck may find themselves in deep trouble when they retire. According to Central Florida’s News Channel 13, the Walt Disney Company is likely cutting its workers’ pensions* by changing the formula used to calculate benefits for current workers and by dropping pensions for new workers. Mickey and Donald […]
Don’t count on your employer for accurate pension info
A U.S. Supreme Court ruling sent an important reminder to retirees this week: you can’t necessarily rely on your employer for an accurate description of your pension benefits.
Workers pessimistic on retirement prospects
Only 78% of employees participate in a defined contribution plan when employers offer such plans, even though most workers consider a DC plan an important benefit, according to a survey by the Transamerica Center for Retirement Studies.
Read your pension’s paperwork
The U.S. Supreme Court made one thing clear in yesterday’s Amara v. Cigna decision: Employees are on their own to understand what their pension paperwork actually says.