Why 401(k) Plans Are Doomed From The Start
The purpose of a 401(k) is to provide meaningful retirement income to a plan participant during his or her retirement. Most plans fail to meet this objective due to mistakes by the participants and plan sponsors.
401(k) Nation: Road To Retirement Gets Rockier
Broker and financial adviser Jim Lacamp has been in the business long enough to remember when Americans had little stake and even less interest in the stock market.
For older workers, ‘scary’ economy delays retirement
Since the downturn began three years ago, the path to retirement for older workers has become an ever-lengthening obstacle course, and last week’s market turmoil may have made it even longer.
Economic Turmoil: Retirement Plans At Risk
Having a supplemental retirement investment account is certainly better than nothing. But these days — amid global debt fears, jobless stagnation, and Monday’s stock market nosedive and roller coaster ride over the rest of the week — a portfolio seems to offer the same comfort level as a lottery ticket. Neither one provides a guarantee […]
Bipartisan Support in Washington for 401k Skimming
Let us all agree that Wall Street should be permitted to continue to skim hundreds of billions annually from what’s left in Americans’ retirement accounts, says the Wall Street Journal in its “The Borzi Savings Bomb” editorial today.
When Will You Retire?
Is this any way to plan for retirement? After a week of huge swings, the Standard & Poor’s 500-stock index, a broad gauge of the market, was modestly higher on Friday but still down for the week.
8 ways the super committee is not super for retirement
Social Security and Medicare will be in the sights of the Congressional “super committee” that will be looking for $1.5 trillion in federal spending cuts under the terms of the debt ceiling agreement. That means the financial security of seniors and Boomers nearing retirement will be on the line, so let’s consider the outlook for […]
Millions of Workers Are in the Dark About Their Pensions
People with pensions are planning for retirement in the dark.
How to handle lump sum pension payout
Employees entitled to a pension from a former employer may soon receive letters offering them a lump sum payout…If you’re faced with deciding whether to take a lump sum, take your time.
Pension Rights Center testifies in support of proposed fiduciary rules (July 26, 2011)
The Pension Rights Center’s Senior Policy Advisor Norman Stein testified in support of the Department of Labor’s proposed fiduciary regulations at a hearing held by the Subcommittee on Health, Employment, Labor and Pensions of the Committee on Education and the Workforce in the U.S. House of Representatives. Read his testimony. Related: Letter and memo that […]
Firms May Drop IRA Savers on Rule Change
The Labor Department wants to expand the scope of fiduciary responsibility to protect those saving for retirement from conflicts of interest, such as recommending investments with higher fees. The rule would require investment professionals who advise employers and workers with retirement savings plans such as 401(k)s or IRAs to act in the best interest of […]
Update beneficiaries before divorce
QUESTION: Will my divorce automatically eliminate my former spouse as the beneficiary of my life insurance and retirement plan?
