Pension Action E-Newsletter

June 16, 2008

New PRC Blog Informs Readers on Issues in the Pension World
The Pension Rights Center has launched a new blog, PRC Perspectives, which will update readers on important events in the world of pensions. PRC Perspectives will also provide the Center with a forum to discuss some of the issues that we hear every day from the workers and retirees we help. Make sure to visit PRC Perspectives to keep up-to-date on the latest issues.

Defined Benefit Plans Still Going Strong
Despite the recent uptick in 401(k) and other defined contribution plans, more than half of the nation’s top companies remain committed to offering their employees defined benefit plans. In a new survey, Watson Wyatt found that 54 percent of Fortune 100 companies continue to sponsor traditional and hybrid defined benefit pension plans.

Stockholders Win Votes in Say-on-Pay Proposals
With the season of shareholder meetings in full swing, more and more shareholders are asking for – and receiving – a “say on pay” for top executives. Already, shareholders at companies such as Apple, Motorola, and Pacific Gas and Electric Company have joined the ranks of Verizon Communications, Aflac and Blockbuster by winning the right to have a nonbinding vote on the amounts their company’s executives are being paid.

Update Your Contact Information
We need your help!  Please take a few minutes to update your contact information so we can alert you to important events taking place in your area and send you occasional Pension Rights Center publications. As with all information submitted on our web site, we’ll keep your personal information private. Also, please continue to encourage family and friends who are concerned about their retirement security to subscribe to Pension Action.

A Wave of New Books Addresses Pensions
In the past few months, a number of new books addressing retirement income security have hit the stands. Some of these books focus specifically on pensions – for example, one shows how some companies use bankruptcy courts to “dump” their pension obligations while another presents a proposal for reforming the private pension system. Other books address guaranteed pensions in the context of larger changes that affect the economy. Check out the Recommended Reading section of our web site for more details on these publications.

New Organization Aims to Increase Retirement Security
The National Institute on Retirement Security (NIRS) aims to increase awareness of the value of retirement security to employees, employers, and the economy through national research and education programs. NIRS seeks to encourage the development of public policies that enhance retirement security in America. Check out its web site!

Did you know?
If you’re investing in a 401(k) plan, you’re probably paying fees for costs associated with the management and administration of the plan. Many people don’t know how much they are paying for these services. Both the Department of Labor and Congress are working on ways to disclose these fees to workers. A Department of Labor booklet, A Look at 401(k) Plan Fees, helps workers figure out just how much of an impact the fees and expenses charged by their 401(k) plans can have on their overall retirement savings. Bills in Congress are working to address this issue. One of these bills, the 401(k) Fair Disclosure for Retirement Security Act, includes a provision requiring that 401(k) plans provide employees with annual statements that would include itemized information about the fees charged to their accounts

Articles of Interest

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