Author: dcadmin
Young workers’ retirement hopes grow bleaker amid economic downturn
The economic downturn is pressing more employers to reduce pension benefits and significantly delaying when people launch their careers, darkening the already bleak picture that young workers face in saving for retirement.
Questions Answered About Pension Plans
Readers recently submitted questions about pension plans to Mary Williams Walsh, a business reporter for The New York Times who has written about how companies manage their pension plans; what happens when companies go bankrupt; public workers’ pensions and how they may affect state and local finances; and Chapter 9 municipal bankruptcy.
De-Risking Focuses on Business Issues; Retirement Security a Concern, Critics Say
After Ford Motor Co. and General Motors Co. announced earlier this year that they would offer some retired and former employees a one-time opportunity to take lump-sum distributions, pension rights advocates were surprised at how quickly other large employers appeared to follow suit.
Verizon annuity deal adds to pressure on long bonds
Others may face shortage of quality securities
Heard Off the Street: ‘De-risking’ trend grows
About 41,000 former Verizon Communications employees are the latest group of retirees who will be getting their pension checks from an insurance company instead of their former employer.
Analysis: U.S. companies take aim at pension risk with lump-sum offers
But by far the most common trend in corporate America is to offer lump-sum payouts to thousands of retirees now – these voluntary buyouts could cost companies millions of dollars upfront, but they eliminate the risk of obligations soaring out of control in the future.
Nearly Half of Large Employers Shifting Retirement Saving Burden to Workers
Boomers and younger workers don’t have much to celebrate in a new report on retirement plan trends among big employers. It shows that 80 percent of companies with more than 1,000 employees offer a defined benefit pension plan, but within five years, that will change. And not for the better.
Unhappy Fort Worth workers should compare their pensions with corporate America’s
And some companies are exploring other ways of shedding their pension obligations. They call it “de-risking.” Read more here: http://www.star-telegram.com/2012/10/25/4364659/unhappy-fort-worth-workers-should.html#storylink=cpyhttp://www.star-telegram.com/2012/10/25/4364659/unhappy-fort-worth-workers-should.html
Employees Throwing Away Free Money?
PRC Legal Director Rebecca Davis is interviewed on CNBC’s “Closing Bell” about the barriers some people may experience when relying on 401(k) plans to save for retirement.
AT&T Proposes Massive Dump of Company Stock Into Pension
Brace yourselves, AT&T pensioners. If AT&T has its way, your pension fund will soon be exposed to, in my opinion, imprudent, avoidable investment risks that ERISA, the federal law governing retirement plan assets, was designed to protect against.
Pension Rights Center to Ask Congress For a Moratorium on Pension Cash-Outs
The Pension Rights Center will ask Congress to place a moratorium on large employers offering to cash out the pension benefits of current and former employees and retirees, the pension rights group said in an Oct. 18 news release. [PDF]
Pension Rights Center asks for moratorium on lump sum and annuity derisking
The Pension Rights Center wants Congress to impose a moratorium on derisking moves by corporate defined benefit plans, including lump-sum buyouts and annuity contracts, while the impact on retirees is studied.
