Month: February 2013
Statement of the Pension Rights Center in support of HB 6145 (February 26, 2013)
On February 26, Karen Friedman testified before the Committee on Labor and Public Employees of the Connecticut General Assembly in support of H.B. 6145, “An Act Providing Protection to Retirees from Discrimination in Pension De-Risking Strategies.” Below are her remarks. Mr. Chairman, Members of the Committee, my name is Karen Friedman, and I am […]
Statement of the Pension Rights Center in support of SB 885 (February 26, 2013)
On February 26, Karen Friedman testified before the Committee on Aging of the Connecticut General Assembly in support of S.B. 885, “An Act Establishing a Task Force to Evaluate the Utility of Creating a Public Retirement Plan.” Below is her written testimony. Senator Ayala, Representative Serra, Members of the Committee, thank you for this […]
More Plan Sponsors Intend to Offer Pension Cash-Out Option, Survey Finds
Nearly four in 10 employers with defined benefit plans say they are at least somewhat likely to offer terminated vested participants and/or retirees a lump-sum option during a specified time period in 2013, compared with 7 percent that actually made such a move in 2012, according to survey results released Feb. 13 by Aon Hewitt. […]
A crucial step toward retirement security for the working class
The state has launched a plan to enable low-wage earners to put aside 3% of their pay for retirement. But it’s going to take more than two years to get it going.
Fiscal trouble ahead for most future retirees
For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research.
Aon Hewitt: Corporate plans eyeing jump through lump-sum window
More than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by Aon Hewitt.
Rethinking savings plans as struggling Americans raid 401(k)s
For too many of Vada Lindsey’s lower-income clients, their hard-earned 401(k) accounts become go-to emergency funds when they are faced with unexpected cash needs.