Fiscal trouble ahead for most future retirees
For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research.
Aon Hewitt: Corporate plans eyeing jump through lump-sum window
More than one-third of corporate defined benefit plan sponsors are considering lump-sum payouts this year for retirees and vested former employees, up from 7% last year, according to a new survey by Aon Hewitt.
Rethinking savings plans as struggling Americans raid 401(k)s
For too many of Vada Lindsey’s lower-income clients, their hard-earned 401(k) accounts become go-to emergency funds when they are faced with unexpected cash needs.
Remarks by Karen Friedman at NASI’s 25th Annual Policy Research Conference (January 31, 2013)
PRC’s Executive Vice President and Policy Director spoke at the 25th Annual Policy Research Conference sponsored by the National Academy of Social Insurance today. Below are her remarks on “Saving for Retirement in Addition to Social Security.” Thank you so much to the National Academy of Social Insurance for inviting me today. I am focusing […]
The $19.4 trillion minute
There comes a moment in a retiring worker’s life when he has to decide what to do with the money in his 401(k) plan.
Retirement Plan Outlook 2013: Potential for Tax Reform, Fiduciary Rule Re-Proposal on Practitioners’ Minds
The possibility of tax reform will be on everyone’s minds in 2013 and retirement issues are bound to get swept up in the tide, practitioners told BNA in a series of interviews in the first half of January about their predictions for this year. [Reproduced with permission from BNA Pension & Benefits Reporter, 40 BPR […]
McLaren Bay Region on pension miscalculation: New option being evaluated, no one will immediately be asked to repay
McLaren Bay Region has announced it won’t immediately ask any of the retirees who were overpaid because of a pension miscalculation to pay back the money they owe.
New Congress offers hope for pension issues
While wholesale policy changes are not expected in President Barack Obama’s second term, some new Capitol Hill assignments have sparked a glimmer of optimism among retirement and investment industry observers.
Heard Off the Street: Alcoa chiefs breathing sigh of relief (second item)
Christine Zarnich of the South Side Slopes often wondered whether the 10 years she put in at Equibank entitled her to a pension. But the 62-year-old could not figure out who or where to call to find out, because the Pittsburgh bank was acquired by Integra in 1993, which was swallowed by National City in […]
2,100 Ohioans owed $15.22M in unclaimed benefits
The government agency that insures private-sector pension plans has millions of dollars in unclaimed benefits that belong to more than 2,000 current or former Ohioans.
McLaren Bay Region pension error affects hundreds of retirees
McLaren Bay Region is working to fix an error that affected pension benefits for dozens of employees.
Pension Rights Center: Situation at McLaren Bay Region fairly common
A calculation error made years ago and only recently discovered caused 283 McLaren Bay Region retirees to be either overpaid or underpaid when it came to their pensions, and Rebecca Davis, legal director at the Washington, D.C.-based Pension Rights Center, says the situation is common.
