401(k)s Primarily Benefit the Wealthy
High income employees receive the majority of the tax benefits of 401(k)s, according to a new Government Accountability Office report. The analysis found that 401(k) tax benefits accrue primarily to highly paid employees and do relatively little to help lower income workers save for retirement.
Man charged nearly $200,000 for pension overpayment
A pension problem for a long-time retiree nearly wiped him out.
I can’t believe I am writing a column about Social Security
Although I became eligible to join the American Association of Retired Persons way back in 2005, I ignored their advances until I realized membership could save money on a car rental. So I enrolled.
401(k) fees a mystery for most participants, AARP finds
Participants in 401(k) plans are “largely unaware” of fees that they pay, according to an AARP report based on a survey conducted by the organization.
Why Young Workers Want a Good Old-Fashioned Pension
The conventional wisdom is that young people today are inured to the idea that they will change jobs repeatedly over their careers, and that because of that, they don’t really think much about pensions. But it turns out that the conventional wisdom is wrong.
Speech by Karen Friedman to the American Council on Consumer Interests (April 15, 2011)
Hello, I’m Karen Friedman, the Executive Vice President and Policy Director of the Pension Rights Center. It’s fabulous to be speaking to the American Council of Consumer Interests, because we are fellow travelers on the road to making this country safer and better for consumers. The Pension Rights Center is the only consumer rights group […]
Can I Take Money Out Of My 401K During My Divorce?
As a Divorce Financial Strategist™ I am frequently asked, “Can I take money out of my 401K before/during my divorce?”
Oklahoma House panel kills bill that would prevent nonmilitary ex-spouses from getting retention pay
A House committee killed a measure Monday that would have prevented extra earnings for military veterans with at least 20 years of service from being declared marital assets in divorce proceedings.
Pensions May Now Struggle With Lump-Sum Payments
With the stock market up, many beleaguered corporate pension plans are healing. But because of regulatory quirks and recent tinkering by Congress, fewer plans could meet minimum requirements to allow investors to take lump-sum distributions rather than less popular annuity-style payments this year.
The Rising Price of Retirement
As more people work part-time rather than hit the greens, the formula for how much they need to live on is changing. Their tax rate may not fall, and expenses may be higher than planned
Pension Hunting
As an Internal Revenue Service flyer warns, “Mistakes in benefit plans can–and do–happen.”
401(k) Plans Are Designed for Mediocrity
Understanding the typical investment will help people understand why 401(k)s are intentionally designed for mediocrity.
