New law gives US companies a break on pensions
A new law will let companies contribute billions of dollars less to their workers’ pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.
Pension legislation winner: Uncle Sam
As executives at corporate defined benefit plans figure out whether they gained more than they lost in pension legislation approved by Congress June 29, one clear winner emerges: Uncle Sam.
Great news for the land of Lincoln!
The Pension Rights Center is delighted to welcome the Illinois Pension Assistance Project (IPAP) as the latest addition to the Pension Counseling and Information Program. Now residents of Illinois who have a question about their traditional pension, 401(k) plan, or other employer-sponsored retirement plan can turn to IPAP for free personalized legal assistance to resolve […]
How fees can chew up a chunk of your 401(k)
What you don’t know can hurt you. In fact, it can hurt you a lot. So when you get a letter about your 401(k) or 403(b) from your benefits office at work this month or next, look at it.
4 Key Items to Look For in New 401(k) Disclosures
It’s easy to overlook what’s important when it comes to saving money. Many people would sooner clip a toothpaste coupon than review their retirement accounts to assess whether they can minimize investment fees.
Congressional Majority Agrees to Undermine Pensions
Congress finally passed bills last week spending money on two things Republicans and Democrats had been saying for months they wanted to spend money on: keeping interest rates low on Stafford loans for college students, and building more transportation infrastructure. What held these policies up was a dispute over how to pay for them.
Pension legislation does not go far enough: PBGC director
Legislation that will sharply increase premiums that employers with defined benefit pension plans pay the Pension Benefit Guaranty Corp. didn’t go far enough, PBGC Director Joshua Gotbaum says.
Why Saving In Your 401(k) Might Be Horrible For You
A 401(k) may be the largest financial asset a family has. They can be great to build wealth, or so defective they may not be worth your participation. They range from excellent to awful. Unfortunately, it’s up to you to decide whether to maximize the opportunity or pass and find better ways to invest.
401(k) fee transparency rules take effect Sunday
Federal disclosure rules that go into effect Sunday will make it easier for workers and retirees to see how much their 401(k) accounts are being docked in fees.
State-run pension plans growing for private sector
Many states are considering implementing a new type of pension plan for private-sector workers that uses the efficiencies of the state run public retirement systems to administer them, according to the Pension Rights Center.
Highway bill includes good news and bad news — for pensions?
Today, Congress passed H.R. 4348, Moving Ahead for Progress in the 21st Century Act, which, among other things, re-authorized funding for the nation’s highways and extended the current low interest rate on student loans. Why is the Pension Rights Center following this bill? The answer is simple: Congress included major changes in pension law as […]
Looking for Cash, Congress Finds Some in a Corporate Pension Rule Tweak
Lawmakers looking for money to finance low-cost student loans and fix aging highways have found about $20 billion in an unlikely place: company pension funds.
