PRC In the News
Don’t blame government workers’ pensions
Let’s be clear about this: Truly abusive pension practices should be eliminated. But it is wrong to suggest that such abuses are commonplace or spreading. To the contrary, 40 states made significant changes to their pension plans during the past two years in order to reduce benefits and decrease costs.
Investors Will Scream When They See 401(k) Fees: Lincoln SVP
The new Department of Labor 401(k) fee disclosure rules that go into effect on April 1 will radically shake up the industry, according to Tom Gonnella, senior vice president of corporate development at Lincoln Trust, who gave six predictions for the defined contribution industry in 2102.
Jazz Musicians Start a Pension Push
New York City’s musicians’ union has begun leafleting outside a major jazz club, the first salvo in what union leaders say is a campaign to gain pension benefits and a minimum wage for jazz artists.
Wal-Mart, Merrill Lynch settle 401(k) fee suit
The settlement reached this month in the excessive-fee suit involving Wal-Mart Stores Inc.’s 401(k) plan is on a par with other recent settlements.
House Republicans ask DOL to go easy on retirement plans
More than four dozen Republican House members sent a letter to the Labor Department last Monday urging the agency to tread carefully if it includes individual retirement accounts in a new rule that would expand the definition of “fiduciary” for people providing advice to retirement plans.
PBGC: Deficit Swells, Service Continues As Bankruptcies Rise
An obscure federal agency tasked with protecting the pensions of employees at bankrupt companies has managed to maintain high-quality services under difficult economic conditions.
New Retirement: Tracking Pension Funds [video]
CNBC’s Sharon Epperson’s “New Retirement” segment shows workers how to track all the retirement funds they have coming to them.
We’re Not Ready: More Bad News About Retirement
The idea of retirement in America is becoming increasingly far removed from the idyllic notion of our “golden years.” For many, it’s now just another source of worry, despair and resignation.
Older Americans are not ‘living the high life’ despite study’s findings
A Pew Research Center study gives a distorted view of how elders are faring in today’s economy.
Filing Puts Pension Benefits at Risk
The parent of American Airlines had been trying to renegotiate pay and work rules for pilots in the weeks before Tuesday’s Chapter 11 bankruptcy filing. Now, pension benefits could be at risk.
PBGC raises maximum annual benefit to nearly $56,000
The Pension Benefit Guaranty Corp. announced Wednesday that the maximum benefit retirees can receive from the agency will increase by $2,000 in 2012, to $55,841.
‘Father’ of the 401(k)’s Tough Love
Ted Benna, who three decades ago seized on an IRS loophole to transform American retirement savings, says he’s proud to be “father of the 401(k).” He also thinks he created a monster.
