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.
R.I. Treasurer Raimondo says 60-year-olds with 401(k)s typically have less than $100,000 in them
General Treasurer Gina Raimondo has been leading the drive to overhaul the retirement system for public employees — with its $7.3-billion unfunded liability — but has rebuffed calls from some critics to scrap the pension plan altogether.
Pension Rights Center supports proposed DOL regulation on definition of fiduciary (07/20/2011)
The Pension Rights Center sent a letter to members of Congress supporting a proposed Department of Labor regulation that would protect participants in 401(k) plans and IRAs by changing the definition of a plan “fiduciary” to include firms and brokers that provide investment advice for a fee. This important regulation will ensure that those who […]
Why regulations matter
In today’s anti-government political environment, there’s a lot of rhetoric thrown around about the bugaboo “excessive regulation.” Just last week, I heard a spokesperson for Dupont tell a congressional committee that the decline of traditional pensions was due, in large part, to a “burdensome regulatory regime.” We hear this time and again in almost every […]
Borzi: Final fiduciary rule might not be issued until 2012
The Department of Labor’s new fiduciary rule might not be released until 2012, Phyllis Borzi, assistant secretary of labor for the EBSA, said Wednesday.
401(k) Match Motivates Retirement Saving
Most workers are lured into 401(k) plans by the promise of an employer contribution. 401(k) matches are the primary reason that workers participate in 401(k) plans, according to a Boston Research Group survey of 1,000 current and retired 401(k) participants sponsored by Fidelity Investments.
Are Americans Saving Enough for Retirement?
Have retirement accounts balances rebounded from the financial crisis?
How can heirs handle my retirement funds?
Q: What happens if my wife, age 70, predeceases me, and when I pass away there is still a sizable balance in my existing rollover IRA and 403(b)?
As Deficit Reduction Debate Rages, Groups Tell Congress to “Halt the Assault on Retirement Security”
WASHINGTON – While Congress fights over how to cut the federal budget deficit, 28 national organizations sent a letter to key members of Congress today, warning that proposed cuts to Social Security, Medicare, and traditional pensions would harm the retirement security of millions of retirees. The letter marks the launch of a new campaign to […]
