White-collar wars: Detroit Three’s battle over traditional pensions
A “war” is escalating in the automotive industry. And it is not a battle between the blue- and white-collar workers, nor will it be fought in the factories. It is a quiet financial struggle for white-collar retirees, former workers and employees regarding their pensions.
Organizations Urge Protections for Women in Lifetime Retirement Income Options
Eight national women’s organizations and the Pension Rights Center submitted comments to the Department of the Treasury, generally supporting proposed IRS rules aimed at encouraging lifetime income options in retirement plans. Noting that “women are more economically vulnerable in retirement than men,” the groups also made several suggestions to strengthen the rules to better protect […]
Joint comments by eight organizations to the Treasury Department on annuitization and women (05/03/2012)
The American Association of University Women (AAUW), the Feminist Majority Foundation, MANA, A National Latina Organization, the National Association for Female Executives, the National Council of Women’s Organizations, the National Organization for Women, the National Women’s Law Center, OWL-The Voice of Midlife and Older Women, and the Pension Rights Center jointly submitted comments to the […]
Minorities’ Retirement Plans Hit Hard In Tough Economy
Continued economic uncertainty has led many workers to dip into their retirement savings, but minorities have been the hardest hit, according to a report by the Ariel Education Initiative (a nonprofit affiliate of Ariel Investments) and the human resources company Aon Hewitt.
Median 401(k) Balance Down to $23,000
At the peak of his retirement savings, around 2006, John Taylor had about $66,000 in his employer-sponsored 401(k) — until the recession and a chain of unexpected events drained his fund completely.
Expected Final Rules ‘Meaningfully’ Altered From 2010 Proposed Hybrid Rules, Iwry Says
The Treasury Department will soon release final rules on cash balance and pension equity plans that will be significantly different from the proposed rules, a senior Treasury official said April 23 at a U.S. Chamber of Commerce briefing.
Pension Rights Center, Other Groups Express Support for DOL Electronic Disclosures Policy
Seven groups, including the Pension Rights Center and the AFL-CIO, wrote a letter April 19 to the Department of Labor urging the continued use of the department’s current policy regarding electronic communications to plan participants.
On Defined Contribution Plans, U.S. Should Follow Other Countries: Report
This week U.S. defined contribution plan sponsors received a startling piece of news: At least four countries outside the U.S have better fee disclosure practices than those in the U.S. The report, issued by the General Accounting Office in March, reviewed best practices in hopes of enlightening U.S. retirement plan providers and regulators.
Defined benefits are being re-imagined
Traditional pensions are struggling for many reasons: low investment returns, too-generous benefits, and the happy fact that people are living longer than expected.
Attorney to speak on pension rights
An attorney from a program designed to assist people with their pensions will speak on retirement and pensions next Thursday at North Dakota State College of Science.
My Faith-Based Retirement
My 60th birthday is less than a week and a half away, and if there is one thing I can say with certainty it’s that 60 is not the new 50.
Speech by Karen Friedman at the 2012 Latino Retirement Security Summit (April 25, 2012)
Thank you to Jeff and to Latinos for a Secure Retirement for inviting me today to speak at this conference. It is indeed a pleasure to be here today on this panel to provide a consumer perspective on technology issues that relate to retirement. However, before I get into technology issues, I want to make […]
