Blogs & Newsletters
March: Women’s History Month — and the Winter of Our Retirement Discontent
I typically associate the month of March with the taming of the winter just about now, when spring flowers begin to sprout, and we look forward to new beginnings. However, the month is also “Women’s History Month” – a time to celebrate women’s accomplishments in this country so that can appreciate and understand where women […]
Evaluating 401(k) Plans in a House of Mirrors
Every few months, a financial services company releases numbers touting the success of 401(k) plans. 401(k) account balances are higher than ever! 401(k) plans are working just fine! There is no retirement crisis! However, like magicians, these firms don’t want you to see what’s behind the numbers. New reports from Fidelity Investments and the Vanguard […]
Detroit: Protecting Pensioners is Key to the City
In one remarkable week in January, we saw the introduction of three proposals to expand retirement savings for the half of the workforce not covered by employer-sponsored plans: President Obama’s myRA, Senator Tom Harkin’s USA Retirement Funds Act, and Senator Bill Nelson and Senator Susan Collins’ Retirement Security Act. The merits of each proposal can […]
Dialed-up employee outcry causes AOL to dial back 401(k) changes
If you’re an AOL employee who went away for a long weekend you might have missed the hubbub about your 401(k) plan. Here’s a recap: On Thursday AOL announced that it would make its 401(k) matching contribution to workers’ 401(k) plans in one lump sum at the end of the calendar year. The outcry was […]
A big week in retirement security
Each year the State of the Union address allows the President to have a conversation with the American people while outlining his priorities for the coming year. In this year’s speech, President Obama not only acknowledged that millions of Americans are facing a retirement crisis, he announced the creation of a new savings plan for […]
Motor City Madness
You’ve probably already heard that a judge has decided to allow the city of Detroit to file for Chapter 9 bankruptcy, which would make the Motor City the largest municipality in the country to do so. The judge also ruled that pensions for the city’s workers and retirees can be cut as part of the […]
ERISA at 40 – The past puts pension law in perspective
The Employee Retirement Income Security Act (“ERISA”), the law governing private retirement plans, has changed quite a bit since it was signed into law in 1974. There have been numerous amendments, court cases, regulatory actions and other developments. ERISA has had such an impact on Americans’ everyday lives that it has become a field of […]
Funniest Celebrity Contest
OK, so on Wednesday night, I was on stage at the DC Improv, along with consumer advocate Ralph Nader, American for Tax Reform’s Grover Norquist, Pulitzer-Prize-winning columnist Clarence Page, and Josh Gotbaum, appearing in his personal capacity. What were we doing? We were all part of the Funniest Celebrity Contest. Yes, this was a contest […]
Spouses deserve an equal voice in retirement decisions
Preparing for retirement is a bit like competing in a marathon. It’s long and hard, and it requires a steady pace. It also requires information about the course ahead. Although most retirement plans provide employees with information about what their pensions will be, some spouses are kept in the dark. If their husbands or wives […]
Oregon takes a step toward retirement security for all
Oregon recently took a step forward in the movement to expand retirement savings for its workers. Oregon’s state legislature passed House Bill 3436, which creates a task force to explore options for helping private-sector workers who lack access to a workplace retirement plan save for retirement. The bill is now awaiting the governor’s signature. House […]
Congress should protect investors, not undermine them
In 1975, when the U.S. Department of Labor issued a rule defining who is an investment advisor under the Employee Retirement Income Security Act, the Vietnam War had just ended, Steve Jobs was tinkering around his dad’s garage, and Angelina Jolie was barely in diapers. To say that the world has changed since then is […]
Happy Older Americans Month!
The start of May marks the beginning of Older Americans Month, a celebration of the contributions older Americans make to society. Sponsored by the U.S. Administration on Aging, the theme of this year’s Older Americans Month—“Unleash the Power of Age!”—highlights the significant positive ways that older Americans influence their communities. 2013 happens to be the […]
