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PRC Perspectives Blog

Robbing your retirement piggy bank

Posted by Nancy Hwa on July 17, 2008

In an earlier blog post, we discussed efforts in Congress to make it easier for people to withdraw money from their 401(k) accounts to save their homes from foreclosure. Such withdrawals are part of a larger problem with 401(k)s known as "leakage" (what a lovely name!) – loans, early withdrawals, and lump-sum payouts that reduce or deplete a worker’s retirement savings account long before the worker actually retires. Between withdrawal penalties, interest charged on loans, and the overall reduction in their retirement savings, "leakage" has long-term consequences that many workers aren't aware of until it's too late. More...

The good news about public pensions

Posted by on July 15, 2008

Too often we hear bad news stories about how public pension plans are underfunded and that they’re a drain to taxpayers. But a congressional hearing last week told a different story. The hearing, Your Money, Your Future: Public Pension Plans and the Need to Strengthen Retirement Security and Economic Growth, focused on how public sector pensions efficiently provide adequate retirement income to a large segment of the workforce. More...

MetLife and Benefit Denials: The Good, the Bad and the Ugly

Posted by on July 09, 2008
Last month, the United States Supreme Court addressed the issue of how courts should review a benefit plan’s denial of an application for benefits. The results were mixed for workers and retirees. More...

Cashed Out: Congress might make it easier for people to dip into their 401(k)s

Posted by Joellen Leavelle on July 03, 2008

In down economic times, it isn’t uncommon for people to feel the urge to dip into their assets to help make ends meet. Therefore, it isn’t a surprise to hear that more and more people are borrowing from their 401(k) plans for a little extra cash. Some people are even paying hefty taxes to permanently withdraw money from their 401(k)s . More...

How do you get young people thinking about pensions?

Posted by on June 25, 2008
Investment & Pensions Europe reports on a Swedish company’s efforts to address this perennial question.  They ran a multi-media ad campaign that was creative enough to win an international advertising award.  (An explanation of the campaign that was prepared for the competition was posted on YouTube and can be viewed here.) More...

Does Gannett's pension freeze leave its employees in the cold?

Posted by Rebecca Davis on June 18, 2008
You may have read that last week newspaper publisher Gannett announced that it will freeze its pension plan for all employees as of August 1, 2008. The company announced the freeze and details of its plan to “enhance” the company 401(k) in a memo sent to employees.

Gannett is just one of many employers that we have added to our growing list of companies that have changed their defined benefit plans. More...

Welcome to our new blog!

Posted by on June 16, 2008

Welcome to the Pension Rights Center’s blog, an opportunity for us to comment on developments in the pension world – and to hear from you! More...

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