Month: January 2011
40% of Workers Plan to Delay Retirement
Four in 10 workers are planning to delay their retirement, according to a survey of 9,100 employees by Towers Watson. Sixty-eight percent of older workers said they were making the delay to keep healthcare coverage, and 61% blamed the decline in their 401(k).
Shift in retirement benefits
Attorney Richard Urda explains changes in pension guarantees.
How pension plans are impacting the economy and what employers can do about it
With corporate contributions to 401(k) plans diminished to about 1 percent of payroll, an unforeseen problem has incubated over the past 30 years. Now faced with inadequate savings, rising health care costs and a decade of poor stock market returns, baby boomers are delaying retirement.
Skating on a frozen pension
Fortune 1000 companies continue to freeze their pensions at a steady pace in this uncertain economy, according to a recent Towers Watson study.
Some employees see return of 401(k) matches, but many still waiting
While the bean counters have proclaimed the recession over and corporate profits are again rising, most Americans are still waiting for proof. For many, a sure sign of recovery would be a return of the company 401(k) match.
As recession lingers, more people making hardship withdrawals from retirement funds
Like tens of thousands of others, Christina and Keith Rybolt felt they had no choice when they tapped into their 401(k) retirement accounts in 2009 and again this year.
Investors Pessimistic Over Retirement
Still reeling from the economic turmoil of the past three years, many pre-retirees are pessimistic about their financial future, including when they will be able to retire.
Narrowing the Gender Gap in Retirement
Women already earn less than men – 80 cents on the dollar, at last count. But when it comes to saving for retirement, over time that 20-cent gap could easily grow into a $260,000 chasm.
BP Asks Judges to Send Workers’ Savings Cases to Texas
Lawsuits by workers claiming BP Plc’s North American unit mismanaged their retirement savings plan should be sent to the Texas court already handling investor claims prompted by the Gulf of Mexico oil spill, company lawyers told a panel of judges.
Workers Find 401K Funds Frozen
Nearly two weeks ago, CYC Construction and Remcon General Contracting suddenly went out of business. It was a shock to employees, but now some of them can’t touch their retirement plans.
Retirement Saving Tops Money Worries for 50+ Crowd
If you’re worried about paying for retirement, welcome to the club.
Not all 401(k)s are alike
For many workers, the 401(k) is the only retirement plan they have. And that makes it all the more important that their 401(k) is a good one.
