Deferred Compensation Lets Executives Avoid 401(k) Saving Caps
Executives with deferred compensation plans have until tomorrow to set aside part of their bonuses and save as much as 9 percent in future taxes. In addition to the tax break, the plans let highly paid employees circumvent the $22,000 cap on contributions to 401(k) savings plans facing lower-paid workers.
Finding a Missing Pension: Here’s where to get help
Q. I’m supposed to get a pension from a company I worked for years ago. I lost track of the company after it changed hands many times. Now I’ve just retired and haven’t heard anything about that pension benefit. What should I do?
J.P. Morgan survey: Paying bills trumps retirement savings
Saving for retirement has become a diminishing priority for 401(k) participants, according to a new survey by J.P. Morgan Retirement Plan Services.
DOL plugs a yawning gap in ERISA rules
Change would extend fiduciary standing to more of those providing retirement plan advice
Yesterday I attended a hearing held by the Senate’s Health, Education, Labor and Pensions Committee. Called Stories from the Kitchen Table: How Middle Class Families are Struggling to Make Ends Meet, the hearing focused on the all-too-familiar challenges that many of America’s middle class families are facing due to the economic downturn. I was particularly […]
Lay employee pension accord clears way for bankruptcy case
When the lawyers reached an impasse, four Catholic women booked a series of meetings with Bishop W. Francis Malooly and negotiated an agreement that appears to clear away the last significant obstacle in the Catholic Diocese of Wilmington’s bankruptcy case, pumping millions into the pension plan of about 2,000 lay employees.
Snail mail or e-mail? The Labor Department wants to know.
How would you prefer to receive information about your retirement plan: delivered by regular mail on paper or electronically by e-mail? What if you don’t use a computer at work and only have access to a computer at home? What if your home computer is old and doesn’t work very well, or if you don’t […]
Do You Have a Pension You Don’t Know About?
Late last year, Vicki and Dale Lloyd opted to begin receiving pension benefits after 57-year-old Dale was diagnosed with cancer. After careful consideration the pair decided that a 75 percent distribution was the best option to meet their financial needs.
How Much Are We Really Saving in Our 401(k)s?
Most people approaching retirement who are lucky enough to have an employer-sponsored retirement plan will have a 401(k). This pattern is particularly true in the private sector where defined contribution plans dominate; most public sector workers continue to be covered by traditional defined benefit plans, which pay benefits for life based on years of service […]
Report: Working Women ‘Markedly Less Confident’ About Retirement than Men
Working women not only earn less on average than their male counterparts. They also set aside less money for retirement, raising the prospect of financial difficulties later in life, according to a report released June 14.
Workers Unhappy with 401(k) Plans
Workers who save in 401(k) plans generally like the tax perks and employer matching contributions these accounts often provide. But many employees remain skeptical that a 401(k) alone will propel them to a secure retirement.
Hey, Republicans and Democrats: Are you listening?
On NPR this morning, Morning Edition aired a story on the Republican Leadership Conference, which is taking place in New Orleans this weekend. At one point, the reporter interviewed two women who were waiting in line to meet former Arkansas governor Mike Huckabee. The interview includes this brief exchange, which comes at 1:20 in the […]