PRC Letter to the Editor on electronic disclosure (06/06/2012)
On June 3, the New York Times published a column about the Labor Department’s new regulations that require 401(k) providers to disclose how much they charge in fees. Below is a letter that the Center sent to the New York Times in response to the article: To the Editor, In addition to telling people how […]
GM’s pension move is a lemon
Last week, General Motors announced that it will offer 42,000 of its salaried retirees the opportunity to take their lifetime monthly pension benefits as a one-time lump-sum payment. Retirees who don’t take the lump-sum offer will receive an annuity equivalent to their pensions from Prudential. While a lump sum might look like a lot of […]
Are GM-like pension offers a good deal?
Over the next few weeks some 42,000 white-collar General Motors retirees will take a crash course in actuarial math.
The Curtain Opens on 401(k) Fees
IF recent stock market gyrations have taken a bite out of your 401(k), get ready for more discomfort. You’re about to learn how much you’re paying just to maintain that account.
Bill creates state retirement for private workers
California’s Senate on Wednesday passed a bill that would create a guaranteed, government-run retirement savings program catering to private-sector workers of modest means.
Could Your 401(k) Fees Buy a House?
There are more than 50 million Americans with investments in 401(k) and other defined-contribution retirement-savings plans. They’re about to be getting more information about the fees they pay. By one estimate, it could be sobering news.
4 Countries with Better 401(k) Plans than the United States
The United States isn’t the only country that encourages workers to use retirement accounts to save for the future. Some other countries provide retirement accounts similar to 401(k)s that offer clearer disclosures, simpler investments, and lower costs than most retirement plans in the United States.
Olan Mills Inc. left pension $41 million shy
Olan Mills Inc. was one of Chattanooga’s biggest successes, going from a woodshed darkroom 80 years ago to a multimillion-dollar network that became the nation’s largest family portrait company.
Looming election slams brakes on fiduciary regs
DOL and SEC likely will delay any moves until after Nov. vote
State pensions eyes European chaos for opportunity
The European economic storm continues to swirl and threaten investments in the U.S., but Connecticut’s top pension official sees opportunity in the troubles on the other side of the Atlantic.
Q&A With Outgoing Colorado Pension Chief: ‘The 401(k) Experiment Is a Failure’
Meredith Williams has headed public employee pension systems in both Colorado and Kansas. During his nearly 21 years in those jobs, he has witnessed great changes in the scope and generosity of retirement benefits offered to state workers.
The Future of Retirement? 401(k)s That Look Like Old-Fashioned Pensions
One of the biggest flaws in most people’s retirement plan is something that previous generations rarely worried about: monthly income guaranteed for life. But the fix is in, and before long your 401(k) may look a lot more like your dad’s pension.
