Month: June 2012
GM pensions: Not all retirees, officials see offer as a ‘win-win’
General Motors Co.’s pension buyout offer to white-collar retirees isn’t necessarily the “win-win” situation executives made it out to be, according to some retirees and officials.
GM pension changes leave retirees’ money unprotected, group says
The General Motors Retirees Association is protesting GM’s plan to buy out pensions of up to 42,000 U.S. salaried retirees and move other retirees to an annuity program controlled by Prudential Insurance Co. of America.
America’s Looming Pension Shock
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.
Lump-sum pension offer a tough call for General Motors, Ford retirees
Chuck White, 68, regularly tells friends who are Ford salaried retirees that they shouldn’t get an ulcer worrying about whether to take a new lump-sum pension offer.
How Divorcing Women Should Handle Retirement Accounts and Pension Plans
When you’re a woman who’s 50+ and divorcing, there’s no question that retirement accounts, pension plans and social security will factor significantly into your divorce settlement agreement –but even if you’re not nearing retirement age, the same is likely true.
PRC Letter to the Editor on electronic disclosure (06/06/2012)
On June 3, the New York Times published a column about the Labor Department’s new regulations that require 401(k) providers to disclose how much they charge in fees. Below is a letter that the Center sent to the New York Times in response to the article: To the Editor, In addition to telling people how […]
GM’s pension move is a lemon
Last week, General Motors announced that it will offer 42,000 of its salaried retirees the opportunity to take their lifetime monthly pension benefits as a one-time lump-sum payment. Retirees who don’t take the lump-sum offer will receive an annuity equivalent to their pensions from Prudential. While a lump sum might look like a lot of […]
Are GM-like pension offers a good deal?
Over the next few weeks some 42,000 white-collar General Motors retirees will take a crash course in actuarial math.
The Curtain Opens on 401(k) Fees
IF recent stock market gyrations have taken a bite out of your 401(k), get ready for more discomfort. You’re about to learn how much you’re paying just to maintain that account.
