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 […]
How Do I Find My Lost Pension?
I am a former employee of First Brands Corporation. I left the company in 1990 with vested rights to a small pension when I turn 65 in December 2011. I tried contacting the company at an address and phone number that I found on the internet, but they’re no longer there. Where do I go […]
DOL fiduciary ruling being postponed yet again
The delivery date for a new definition of “fiduciary” is slipping into 2012, as officials at the Department of Labor prepare more detailed economic analysis to address industry concerns.
Update beneficiaries before divorce
QUESTION: Will my divorce automatically eliminate my former spouse as the beneficiary of my life insurance and retirement plan?
Chicago paper puts brakes on surprise 401(k) fee
An uproar among Chicago Sun-Times newsroom employees has helped reverse a surprise fee slapped on their retirement plans.
Workers increasingly raid 401(k)s for short-term cash
As the economy struggles in recovery, more working Americans are making dicey moves to pluck cash from their 401(k) retirement accounts.
