Filing Puts Pension Benefits at Risk
The parent of American Airlines had been trying to renegotiate pay and work rules for pilots in the weeks before Tuesday’s Chapter 11 bankruptcy filing. Now, pension benefits could be at risk.
PBGC raises maximum annual benefit to nearly $56,000
The Pension Benefit Guaranty Corp. announced Wednesday that the maximum benefit retirees can receive from the agency will increase by $2,000 in 2012, to $55,841.
‘Father’ of the 401(k)’s Tough Love
Ted Benna, who three decades ago seized on an IRS loophole to transform American retirement savings, says he’s proud to be “father of the 401(k).” He also thinks he created a monster.
Have seniors gotten rich at the expense of young adults?
You might think so if you read some recent stories in the news about wealth differences among generations. But you may want to think again. A recent study published by the Pew Research Center on “The Rising Age Gap in Economic Well-Being” states that in 2010 households headed by seniors (adults age 65 and older) […]
SunTrust latest large company to freeze pensions
SunTrust Banks will freeze its employee pension plan at year’s end, following a cost-cutting move pursued in recent years by several companies.
More large employers freeze defined benefit plans — analysis
More than 40% of Fortune 1000 companies that have defined benefit pension plans have frozen at least one such plan, according to a new analysis.
BNY Mellon employees sue alleging fiduciary breaches in 401(k), ESOP
Two BNY Mellon employees have sued the company alleging breach of fiduciary duty in the management of a 401(k) plan and ESOP.
Audit Finds Errors in Calculating Pensions in Bankruptcies
The federal agency that takes over failing pension plans in corporate bankruptcies has made errors in calculating benefits, according to an audit released Wednesday, raising the possibility that some retirees have been getting too much or too little.
Who Killed the Pension Plan?
The continuing collapse of traditional pension plans has undermined the confidence Americans once had that they could retire comfortably, and the push toward such alternatives as 401(k) plans has yet to meet expectations.
Underfunding is a constant worry as stocks dive, rates dive low
The roller-coaster stock market and rock-bottom interest rates have buffeted the funding levels of most corporate pension plans in recent months, experts say.
Money Managers Scramble to Provide Lifetime Income Solutions
Turning working folks into professional investors has been a challenge for the asset management industry in the U.S. for nearly three decades. Trillions of dollars and 23 million defined contribution investors later, progress has clearly been made. Now comes the next challenge: decumulation.
Retirement Heist: Overlooked Causes of the Retirement Crisis
Event description: The decline in employer-sponsored pension and retiree health plans is a troubling trend that has eroded the retirement security of millions of Americans. Stock market losses and low interest rates have weakened pension funding, and employers say that this — combined with retiree longevity, rising costs and the need to compete globally – is forcing […]