PRC In the News
How can heirs handle my retirement funds?
Q: What happens if my wife, age 70, predeceases me, and when I pass away there is still a sizable balance in my existing rollover IRA and 403(b)?
Anticipated IRS Guidance on Church Plans May Be ‘Too Little, Too Late
A much-anticipated revenue procedure pertaining to church plans, which is in clearance at the Treasury Department, may be, as one practitioner described it, ‘‘too little, too late’’ for participants who have lost pension benefits they expected they would receive.
Most Americans Expect to Work During Their Retirement: Study
Americans are expecting to retire later and work throughout it, according to a study sponsored by SunAmerica Financial Group in collaboration with Age Wave.
On 401(k) plans, the less choice the better
A friend who works in finance for a small business recently complained to me that few of the employees participate in his company’s 401(k) plan.
401(k) Law Suppresses Saving for Retirement
A 2006 law designed to boost employees’ retirement-savings is having the opposite effect for some people.
Momentum Builds to Place IRAs Under Fiduciary Umbrella
Phyllis Borzi took on opponents of the DOL’s new fiduciary definition when she bluntly said, “the level of protection in the IRA marketplace for people against financial conflicts of interest is of concern.”
Finding a Missing Pension: Here’s where to get help
Q. I’m supposed to get a pension from a company I worked for years ago. I lost track of the company after it changed hands many times. Now I’ve just retired and haven’t heard anything about that pension benefit. What should I do?
Deferred Compensation Lets Executives Avoid 401(k) Saving Caps
Executives with deferred compensation plans have until tomorrow to set aside part of their bonuses and save as much as 9 percent in future taxes. In addition to the tax break, the plans let highly paid employees circumvent the $22,000 cap on contributions to 401(k) savings plans facing lower-paid workers.
J.P. Morgan survey: Paying bills trumps retirement savings
Saving for retirement has become a diminishing priority for 401(k) participants, according to a new survey by J.P. Morgan Retirement Plan Services.
DOL plugs a yawning gap in ERISA rules
Change would extend fiduciary standing to more of those providing retirement plan advice
Lay employee pension accord clears way for bankruptcy case
When the lawyers reached an impasse, four Catholic women booked a series of meetings with Bishop W. Francis Malooly and negotiated an agreement that appears to clear away the last significant obstacle in the Catholic Diocese of Wilmington’s bankruptcy case, pumping millions into the pension plan of about 2,000 lay employees.
Do You Have a Pension You Don’t Know About?
Late last year, Vicki and Dale Lloyd opted to begin receiving pension benefits after 57-year-old Dale was diagnosed with cancer. After careful consideration the pair decided that a 75 percent distribution was the best option to meet their financial needs.
