More large employers freeze defined benefit plans — analysis
More than 40% of Fortune 1000 companies that have defined benefit pension plans have frozen at least one such plan, according to a new analysis.
BNY Mellon employees sue alleging fiduciary breaches in 401(k), ESOP
Two BNY Mellon employees have sued the company alleging breach of fiduciary duty in the management of a 401(k) plan and ESOP.
Audit Finds Errors in Calculating Pensions in Bankruptcies
The federal agency that takes over failing pension plans in corporate bankruptcies has made errors in calculating benefits, according to an audit released Wednesday, raising the possibility that some retirees have been getting too much or too little.
Who Killed the Pension Plan?
The continuing collapse of traditional pension plans has undermined the confidence Americans once had that they could retire comfortably, and the push toward such alternatives as 401(k) plans has yet to meet expectations.
Underfunding is a constant worry as stocks dive, rates dive low
The roller-coaster stock market and rock-bottom interest rates have buffeted the funding levels of most corporate pension plans in recent months, experts say.
Money Managers Scramble to Provide Lifetime Income Solutions
Turning working folks into professional investors has been a challenge for the asset management industry in the U.S. for nearly three decades. Trillions of dollars and 23 million defined contribution investors later, progress has clearly been made. Now comes the next challenge: decumulation.
Retirement Heist: Overlooked Causes of the Retirement Crisis
Event description: The decline in employer-sponsored pension and retiree health plans is a troubling trend that has eroded the retirement security of millions of Americans. Stock market losses and low interest rates have weakened pension funding, and employers say that this — combined with retiree longevity, rising costs and the need to compete globally – is forcing […]
“Retirement Heist: Overlooked Causes of the Retirement Crisis.”
On Monday, the Pension Rights Center, the New America Foundation, and AARP hosted a discussion, “Retirement Heist: Overlooked Causes of the Retirement Crisis.” The forum centered on investigative journalist Ellen Schultz’s new book, Retirement Heist, which we’ve mentioned before. Speakers included the author herself, Assistant Labor Secretary Phyllis Borzi, David Certner of AARP, Don Fuerst […]
New IRS Procedures for Church Plan Rulings
On September 26, 2011, the Internal Revenue Service (IRS) issued Rev. Proc. 2011-44, the principal purpose of which is to add a requirement that when a church plan sponsor applies for a private letter ruling on whether the plan is a church plan under Internal Revenue Code (IRC) §414(e), the applicant must notify participants and […]
Remarks by Karen Ferguson at “Retirement Heist: Overlooked Causes of the Retirement Crisis” (November 7, 2011)
We at the Pension Rights Center are absolutely delighted to be co-sponsoring this event. We are pleased to be able to discuss Ellen’s book and the extraordinary impact of her reporting over the years. It has had an amazing effect on the lives of so many employees and retirees. We are also delighted to once […]
Thanks but No Thanks on 401(k) Advice
An increasing number of plans offer outside help, typically for a fee. So far, most participants aren’t buying in.
Employers Restore 401(k) Matches
The majority of companies that suspended their 401(k) match during the recession have since restored them, according to a new Towers Watson report.
