Month: May 2012
Qualified Longevity Annuity Contract Rules Should Allow More Options, Commenters Say
A Treasury Department proposal to expand retirement income options is on the right track, but it requires some revisions to achieve the objectivesoutlined in the proposed regulation (REG-115809-11), a variety of interest groups said in public comment letters posted May 4.
Research Supports Limits on Borrowing from Retirement Plans
Research from Vanguard bolsters the argument for limiting the number of loans that employees can take from their 401(k) retirement accounts.
Is It Time to Rethink 401(k)s?
Like the proverbial elephant, the view of 401(k) plans depends on which part of the retirement beast you’re looking at. Started 30 years ago as a largely self-directed investment companion to traditional pensions, 401(k)s have been forced to grow up and become the nation’s primary private retirement-savings vehicle.
As Dewey Collapses, Partners and Retirees Face Big Financial Losses
For the law partners at Dewey & LeBoeuf, losing their jobs may be the least of their worries. They are likely to lose the money they were required to invest in the firm. They could lose their pensions.
Countering the Retirement Crisis
To help counter the growing retirement crisis for today’s workers, the Pension Benefit Guaranty Corp. has recently begun to spotlight its often-unnoticed mission “to encourage and preserve retirement plans of U.S. companies.”
Should You Accept a Pension Buyout Offer?
A group of 90,000 former salaried workers at Ford got an interesting offer late last month: In exchange for giving up the right to receive monthly pension benefits for the rest of their lives, the company would instead pay them an up-front lump sum of cash.
49% of Americans saving zilch for retirement
America has a serious problem saving for retirement. About 49% of Americans say they aren’t contributing to any retirement plan, according to a new survey conducted by LIMRA, a trade association for the financial services industry.
401(k)s are too risky for retirement
Sharon Edwards of Salem, Oregon, may have to move to Mexico, where the cost of living is cheaper, so she can afford her retirement.
401(k) Plan Sponsors: Workers Can’t Afford to Retire
The retirement-plan industry regularly extols the virtues of 401(k)s and other retirement investment programs. Yet a survey of the heads of many big employer retirement plans found that nearly 80 percent of them agreed that “the days of working until the age of 65, retiring, and then never having to work again are generally over […]
Working Late, by Choice or Not
A record 7.2 million Americans age 65 and older are working — double the number 15 years ago — partly because many older Americans love to work and partly because many feel too financially squeezed to retire.
The retirement savings crisis
The state of retirement savings in America is in big trouble. According to Fidelity Investments, the average 401(k) balance among its 11.8 million accounts increased to $74,600 at the end of the first quarter 2012, a 62 percent increase since the end of the first quarter 2009. While it’s good news that balances are up, […]
White-collar wars: Detroit Three’s battle over traditional pensions
A “war” is escalating in the automotive industry. And it is not a battle between the blue- and white-collar workers, nor will it be fought in the factories. It is a quiet financial struggle for white-collar retirees, former workers and employees regarding their pensions.
