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.
New Retirement: Tracking Pension Funds [video]
CNBC’s Sharon Epperson’s “New Retirement” segment shows workers how to track all the retirement funds they have coming to them.
We’re Not Ready: More Bad News About Retirement
The idea of retirement in America is becoming increasingly far removed from the idyllic notion of our “golden years.” For many, it’s now just another source of worry, despair and resignation.
Older Americans are not ‘living the high life’ despite study’s findings
A Pew Research Center study gives a distorted view of how elders are faring in today’s economy.
Is your pension plan having a religious conversion? Here’s what you can do.
Have you received a notice informing you that your pension plan is seeking approval from the Internal Revenue Service to convert to a “church plan”? Here’s what this means to your retirement – and what you can do about it. Many people who work for nonprofit organizations that are associated with religious organizations – hospitals, […]
