Month: March 2011
Bad news for boomers relying on 401(k) plans
The 401(k) generation is retiring with savings plans that are falling way too short.
Making the Most Out of Less
This year, the first of the nation’s 79 million baby boomers turn 65, and while millions dream of comfortable retirements, perhaps in Boca Raton, Fla., or Palm Springs, Calif., many will discover they will have a tough time in retirement.
9 Signs Your 401(k) Stinks
It looks like droves of public employees may soon be joining the ranks of 401(k) nation. A growing trend in cash-strapped state and local governments is to push for new retirement benefits that shift workers out of traditional pensions and into the less secure world of the 401(k).
Testimony of Norman Stein before the Department of Labor on proposed regulations defining fiduciary (March 1, 2011)
Senior Policy Counsel Norman Stein testified before the Department of Labor on proposed regulations that would expand the definition of the term “fiduciary”. See the comments submitted by the Pension Rights Center on this proposed regulation. Read the blog entry PRC’s Jane Smith wrote on the subject.
DOL to Issue Final Rule on Fiduciary by Year-End: Borzi
Phyllis Borzi, assistant secretary for the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) said Tuesday that the EBSA plans to “refine” the text of its proposed regulation amending the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) and issue a final rule by year-end.
DOL, industry spar over fund lineups
The Labor Department and representatives from service providers and pension advocacy groups today sparred over whether presenting a retirement plan with a fund lineup constitutes investment advice.
7 Conflicts of Interest in Your 401(k) Plan
Employer-sponsored 401(k) plans are riddled with conflicts of interest, according to a Government Accountability Office report released this week.
