Month: January 2011
Wealthy women fear they’ll outlive retirement money
Wealthy women expect to be more active than their male counterparts in their retirement years, but they’re also more worried about outliving their retirement funds, according to a Bank of America Merrill Lynch study released Monday.
9 Retirement Benefit Changes Coming in 2011
Many employers are planning to tweak their retirement benefits this year. Nearly 70 percent of firms plan to review their 401(k) and pension programs and potentially make changes in 2011, according to an Aon Hewitt survey of 210 companies employing 6.2 million workers.
Archdiocese of Milwaukee pension plans underfunded
The Archdiocese of Milwaukee said Friday that its employees’ pension plans are underfunded, confirming one of the fears expressed by Catholic Church employees since the archdiocese filed for Chapter 11 bankruptcy protection on Jan. 4.
More At Risk of Missing Retirement Goals
A greater number of U.S. households are at risk of falling short of money in retirement because of the housing and financial crisis, according to a report.
How to Find Thousands in Lost Pension Money
My wife and I were hiking with some friends recently, and as often happens now with people our age, we started talking about retirement — more specifically, about whether we’d have enough retirement income to make ends meet.
GE closes DB plan for salaried employees
General Electric has closed its pension plan to new employees hired after December 31, 2010. Employees hired before December 31, 2010 will not be affected by the change.
401(k) plans regaining steam
It’s not just jobs that have been slow to come back during the economy’s spastic recovery from the Great Recession. About half of the U.S. companies that suspended contributions to their employees’ retirement savings after 2008 haven’t restored them yet.
PRC comments to EBSA on proposed amendments to regulations concerning target-date funds and QDIA (01/14/2011)
Pension Rights Center submitted comments [PDF] on the Department of Labor’s proposed amendments to the qualified default investment alternative regulation and the participant-level disclosure regulation concerning disclosure of information by target-date or similar funds.
Lay employees file suit against Diocese to protect pensions [text and audio]
The Catholic Diocese of Wilmington faces yet another legal challenge in their bankruptcy case.
Why Lump Sum Pension Payments Are a Bad Deal for Most Retirees
Traditional pensions are an endangered species in the private sector. But if you’re lucky enough to have one, you may face a choice at retirement: Take the money as a lump sum, or as a monthly lifetime annuity-style payment?
PRC Letter to the IRS regarding the faulty definition of “active participant” in 401(k) plans
August 5, 2010: The Pension Rights Center sent a letter to the IRS, asking it to revert back to a definition of an “active participant” in 401(k) plans that is accurate and useful.
Letter from PRC and other organizations to the U.S. Senate regarding 401(k) fee disclosure provisions in H.R. 4213
June 15, 2010: The Pension Rights Center and seven other organizations sent a group letter to members of the U.S. Senate, urging them to restore provisions to H.R. 4213 that would make 401(k) fees more transparent and straightforward.
