Retirement Roulette
Saving for retirement used to be as simple as showing up for work. Now it’s rife with contingencies—and success is all on you.
Finding Your Lost Money
You may not know it, but millions of Americans are owed money from long-forgotten government payments, stock sales, bank accounts and other lost accounts.
AMR Bankruptcy Upends (Family) Financial Planning
The recent bankruptcy filing by American Airlines’ parent, AMR Corp., cast clouds over the best-laid financial plans of many of the carrier’s employees. Among the issues up in the air: pensions, benefits and job security.
[UPDATED] American Airlines’ bankruptcy – what does it mean for its pensions?
No doubt you’ve heard that American Airlines has filed for bankruptcy. The airline has four underfunded pension plans, and their fate is the source of much speculation. Despite meetings the company has held with employees to discuss their pensions, workers remain concerned. Will the company terminate the plans and dump their liabilities onto the Pension […]
NY State Pension Trustee Calls 401(k) Plans ‘Woefully Inadequate,’ Defends DB
Defined contribution plans should not replace defined benefit plans, asserts Thomas DiNapoli, the New York state comptroller and sole trustee of the $133.8 billion New York State Common Retirement Fund.
5 Best Practices for Managing a Hospital Pension Plan
For hospitals that still offer pension plans, CFOs have a lot of pressure to manage them. They represent the culmination of an employee’s dedicated work to the organization and a much sought-after retirement.
Don’t blame government workers’ pensions
Let’s be clear about this: Truly abusive pension practices should be eliminated. But it is wrong to suggest that such abuses are commonplace or spreading. To the contrary, 40 states made significant changes to their pension plans during the past two years in order to reduce benefits and decrease costs.
Investors Will Scream When They See 401(k) Fees: Lincoln SVP
The new Department of Labor 401(k) fee disclosure rules that go into effect on April 1 will radically shake up the industry, according to Tom Gonnella, senior vice president of corporate development at Lincoln Trust, who gave six predictions for the defined contribution industry in 2102.
Jazz Musicians Start a Pension Push
New York City’s musicians’ union has begun leafleting outside a major jazz club, the first salvo in what union leaders say is a campaign to gain pension benefits and a minimum wage for jazz artists.
Wal-Mart, Merrill Lynch settle 401(k) fee suit
The settlement reached this month in the excessive-fee suit involving Wal-Mart Stores Inc.’s 401(k) plan is on a par with other recent settlements.
House Republicans ask DOL to go easy on retirement plans
More than four dozen Republican House members sent a letter to the Labor Department last Monday urging the agency to tread carefully if it includes individual retirement accounts in a new rule that would expand the definition of “fiduciary” for people providing advice to retirement plans.
PBGC: Deficit Swells, Service Continues As Bankruptcies Rise
An obscure federal agency tasked with protecting the pensions of employees at bankrupt companies has managed to maintain high-quality services under difficult economic conditions.
