PRC In the News
The 401(k): Americans ‘just not prepared’ to manage their own retirement funds
When lawmakers added a subsection to the tax code called the 401(k) more than three decades ago, they could not have imagined that this string of three numbers and a letter would become a fixture in the financial lexicon.
Tax credit a benefit for lower-income workers
Lower-income workers can get a little-known tax credit worth up to $1,000 each year if they contribute to an individual retirement account or workplace plan such as a 401(k), 403(b) or 457.
Keeping Track of Your Retirement Investments
Employees are transient. Look at your own life: Even if you’re in your 20s or early 30s, it’s possible you’ve already worked with several different employers. One report from the Bureau of Labor Statistics stated that the boomer group studied held an average of 11 jobs while they were between the ages of 18 and […]
New Ideas on Pensions: Use States
As growing numbers of baby boomers face retirement with inadequate savings, some state officials are considering a novel proposal to rebuild America’s ailing retirement system — having state pension funds run retirement plans for companies.
Employees to Employers: Help Us Retire
After years, if not decades, of reports that U.S. employees don’t save enough for retirement, along comes a new study that appears to show that the minds of American workers have changed: They are now ready to save for retirement and willing to sacrifice to do so — or at least half of them are.
A New Life for Pension Plans
Bucking the 401(k) trend, one union moves to a new type of defined-benefit plan in which employers and employees share the risk.
What Will Replace the 401(k)?
The venerable 401(k) has been under fire since the recession. Here’s what could replace it.
Pension funding changes could offer some relief
Help welcome, but some seeing risky possibilities
Labor Department not deterred in fiduciary rule proposal
The Labor Department is not going to let push-back from the financial services industry delay its fiduciary rule for advisers who handle retirement plans – but that does not mean the regulation will be out anytime soon.
Don’t Cut Pensions, Expand Them
On Thursday morning the New York State Legislature agreed to a deal limiting pensions for future public employees. The state thus joins 43 others that have recently enacted legislation curtailing public retirement benefits.
Is Congress setting itself up for a pension crisis?
Who wants to hear about pensions? No one. But that’s sort of the point! Yesterday, I noted that the Senate’s two-year highway bill used a few gimmicks to paper over shortfalls in gas-tax revenue. And one of those was a little-noticed tweak in pension rules that could end up being quite important.
Don’t Let Companies Slash Pension Payments
There is something about pensions that makes their sponsors just want to say no. For months we have been reading about cities and states failing to pay what is due into employee pension funds. Now corporate America is getting into the act.
