Month: April 2013
Adjustable pension plan design begins to gain converts
A new pension plan design that allows employers to drastically reduce their risk while still providing lifetime income to participants is gaining support as an alternative to moving employees into a defined contribution plans.
Reception Honoring the Pension Counseling and Information Program: 20 Years of Success
Event description: The Pension Rights Center celebrated the 20th anniversary of the Pension Counseling and Information Program at a reception in Washington, D.C. See photos and learn more.
Despite financial troubles, J.C. Penney has one of the best-funded pensions in the country
Troubled companies usually have troubled pensions, if they have pensions at all. Bankrupt giants such as General Motors Co., American Airlines Inc. and LTV Steel were hampered by billions in unfunded pension liabilities. Then there’s J.C. Penney, whose financial problems have made headlines for months. The Plano-based retailer has one of the best-funded pensions in […]
Baby Boomer Confidence Level Still Low On Retirement Security, IRI Survey Finds
Many members of the baby boom generation continue to lack confidence in their retirement outlook, according to a survey released April 8 by the Insured Retirement Institute.
Options for Increased Retirement Security — comments to the House Ways & Means Committee (04/15/2013)
Comments for the Committee on Ways and Means Working Group on Pensions and Retirement Options for Increased Retirement Security Submitted by the Pension Rights Center April 15, 2013 Since 1976, the Pension Rights Center has served as the nation’s foremost consumer organization working exclusively to protect and promote the retirement rights of workers, retirees, and […]
401(k) rollover study triggers call for action
A new Government Accountability Office report highlighting the pitfalls of rolling over 401(k) plan accounts is sparking demand for clearer procedures and stronger consumer protections from companies and the federal government.
Borrowing against the future with a 401(k) loan
Thinking about taking a loan from your 401(k) plan? Think again. It’s no secret that many Americans were hit hard and are still struggling to recover from the financial crisis. Even those who weren’t laid off or downsized during the recent recession may think of their 401(k) accounts as piggy banks instead of the retirement […]
Union-Employer Proposal Would Hit Some Retirees
A coalition of unions and employers is proposing changes to the federal law that governs the pension plans of about 10 million people, including reducing benefits paid to retirees, the first time in four decades that such cuts would be allowed.
Another look at living independently in retirement
Living independently is a goal for many who are approaching or thinking about retirement. While most people don’t expect to move to a gated retirement community with a golf-course, they do hope to have adequate financial resources to live modestly and with dignity. How much will they need? The Gerontology Institute of the University of […]
Twin Cities publisher agrees to pay $4.5M for pension plan failure
Augsburg Fortress Publishers will pay $4.5 million under a pending settlement to end a lawsuit over its failed pension plan.
I.R.S. Reversal on ‘Church’ Pension Plan Rescues a Fund
The Internal Revenue Service has taken an unusual step to rescue the pensions of more than 700 people whose fund was about to run out of money, but it said that their circumstances were unique and that it was not setting a precedent.