PRC In the News
What To Do If Your Pension Is Frozen Or You’re Offered A Lump Sum
Do you now or have you ever participated in a “defined benefit” pension plan–the kind where a private sector employer promises a set monthly check based on your salary, years of service and retirement age? Are you now retired and receiving a monthly pension check?
No need for new DC plan
Sen. Tom Harkin, R-Iowa, proposes to improve pension coverage and retirement security by building a chair. That is, he would add a fourth leg to the shaky proverbial three-legged stool that defines the current retirement system to shore it up.
Best Buy’s 401(k) Meltdown
As hard as times are for investors in Best Buy’s shares, far grimmer is the plight of the 110,000 employees participating in the company’s approximately $1 billion 401(k) plan.
How do you find a lost pension?
How do I find a pension if my old employer has merged several times and I can’t locate it?
4 crusaders fighting for seniors’ financial rights
These Money heroes are fighting for the financial security and success of seniors.
Defined-Contribution-Plan Sponsors Shore Up Their Matching Contributions
In the wake of the 2008 economic crisis, many companies with defined contribution pension plans stopped matching employee savings.
States Up the Pressure on Retirement Plans for Private Workers
California’s new state-administered retirement savings program for certain private-sector workers could serve as a model for other states.
Applied to Pensions, Risk Is a Four-Letter Word
While transferring pension-plan peril is appealing, there are some precautions companies should be aware of.
Retirement plan shift is creating a generation of workers unable to retire
Large U.S. employers continue to eliminate traditional pension plans that pay retired workers a monthly lifetime pension in favor of defined contribution and hybrid plans that offer lump-sum payments at retirement, according to a recent survey HR consulting firm Towers Watson.
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.
