Many Hispanics face obstacles in retirement planning
Over the past several decades, many Hispanic-Americans and their families have come to this country for a chance to live in a place where freedom means endless possibility. For Americans of all ethnic backgrounds, this means freedom to live where we want, earn a living in the way that we choose and retire with the […]
Nonprofit Weighs in on Electronic Disclosure Debate
The Pension Rights Center, a nonprofit consumer rights organization, believes that current safe harbor rules balance the interests of participants and beneficiaries with the interests of efficient plan administration.
Many of us won’t be able to retire until our 80s
You’ll probably have to work much longer than you anticipated
401(k) Fees Can Shave Thousands From Nest Egg
Millions of Americans save for retirement by using 401(k) accounts, employer-based retirement plans that help workers put a portion of their salary into mutual funds or other investments. But most of those plans have fees and hidden expenses.
Loans From 401(k)s Are on the Rise As Investors Tap Their Inner Banker
In spite of decades of advice to the contrary and the improving economy, millions of Americans are increasingly turning to what was once a lender of last resort—their 401(k) plans.
Lack of Pension Coverage Is a Serious Problem
When thinking about how secure people are going to be in retirement, we tend to put a lot of emphasis on the shift from the old-fashioned defined benefit plan (where people receive a benefit for life based on final earnings and years of service) to 401(k) plans (where the employee, and usually the employer, contribute […]
Court Grants Class Certification in First Horizon 401(k) Suit
The U.S. District Court for the Western District of Tennessee has granted conditional class certification in a lawsuit concerning the 401(k) plan of First Horizon National Corporation.
Senator cites the Retirement Income Deficit
In May, Senators Herb Kohl (D-WI) and Mike Enzi (R-WY) introduced S. 1020, the Savings Enhancement by Alleviating Leakage in 401(k) Savings Act of 2011, or SEAL Act. As we’ve described before, “leakage” occurs when people cash in their 401(k)s or take out loans against their 401(k)s so that they can use the money for […]
Most Americans Haven’t Planned for Retirement and Other Areas of Concern
The financial status of American households may be even darker than we thought.
PRC response to a Request for Information on electronic disclosure in benefit plans (06/06/2011)
The Pension Rights Center submitted comments in response to a Request for Information by the Employee Benefits Security Administration on delivering information to participants and beneficiaries through electronic means. The Center supports the current safe harbor for electronic disclosure, warning that moving to electronic disclosure as the default means of delivery could harm the retirement […]
Don’t Play Dead With Your Rollover
The Great Rollover Hunt is on. Some $350 billion will be rolled over into individual retirement accounts from 401(k)s and other workplace accounts this year, up from $330 billion in 2010, according to Financial Research Corp., an investment industry research firm.
Revealing Excessive 401(k) Fees
You may not realize this, but your 401(k) or other workplace retirement plan is not free.
