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.
Retirement issues likely to dovetail with tax reform in 2013
The Washington outlook for retirement and investment policy in 2013 can be summed up in one word: revenue.
PBGC holding $300 million in unclaimed pension benefits
At a time when many Americans are worried about saving enough for retirement, nearly $300 million in pension benefits has gone unclaimed by U.S. workers and retirees.
Joint letter to Congress in support of H.R. 5981, which closes a gap in the law for survivor benefits in multiemployer plans (12/27/2012)
The Pension Rights Center, the National Women’s Law Center, and the National Coordinating Committee on Multiemployer Plans sent a letter [PDF] to every member of Congress, asking them to pass H.R. 5981 before the end of the current Congress. The bill closes a loophole that unfairly denies pension benefits to widows and widowers when multiemployer […]
Benefit Groups Tailor Policy Agendas To Congressional Lame-Duck Session
Retirement benefits are front and center on the policy agendas of employee benefit groups as Congress and President Obama negotiate a deal to solve the nation’s fiscal crisis during the final weeks of 2012. [PDF]
Will 401(k) plans keep getting worse?
IBM, one of America’s largest companies, shook the employee compensation world when it announced recently that it would contribute only once every December to its employees’ 401(k) accounts. Any employee who leaves before December would not be able to collect the company’s match.
Benefits Leader Reins In 401(k)s
International Business Machines Corp., a bellwether for employee benefits, is overhauling its retirement program to contribute once a year to employee 401(k) accounts in a lump-sum payment.
IBM remakes its match
If your company matches your retirement savings, that payment probably shows up on your pay stub every other week or so. This week IBM notified employees it’s changing its 401(k) match. The company will make one lump-sum payment per year. What’s the difference? Potentially, a lot of money.
401(k) tax breaks in lawmakers’ gunsights
Tax reform could change some retirement savers’ plans
