Mixed ruling in suit over AIG employees’ pension losses
A New York federal judge has dismissed some claims against American International Group Inc. related to losses sustained by its employee pension plans, but also refused to dismiss others.
Don’t blame Social Security
On Monday, I was honored to join my colleagues Senators Reid, Sanders, Franken and Blumenthal at a rally with more than 300 supporters of Social Security.
Savings Plans March 31, 2011, 5:00PM EST Big Banks Go After 401(k) Trillions
JPMorgan Chase, BofA, and Wells Fargo are gearing up to compete with Fidelity and Vanguard to administer retirement plans
The role for DC plans in the public sector
In the wake of the financial crisis, policymakers have been chattering about moving to defined contribution (DC) plans in the public sector. Defined contribution plans may well have a role in the public sector, but not as an alternative to defined benefit (DB) plans.
Big Banks Go After 401(k) Trillions
JPMorgan Chase, BofA, and Wells Fargo are gearing up to compete with Fidelity and Vanguard to administer retirement plans
Pension Rights Center Gala Event: A Celebration of Superheroes
Event description: On March 30, 2011, the Pension Rights Center held a gala event to celebrate its 35th anniversary. The Center recognized the work of many indivudials by awarding the Robert M. Ball – Lisle C. Carter Superhero Awards and the Helen Quirini Activist Awards, and launched the Michael S. Gordon Fellows Program. More information.
Be Certain to Get the Pension You Earned
Are you having difficulty getting the pension or 401(k) plan funds you worked years to earn? Six pension counseling projects, funded through the U. S. Administration on Aging and serving plan participants and their beneficiaries in 29 states, can help.
Nuns take O’Malley to court over pensions
In a highly unusual case pending before the Supreme Judicial Court, an order of nuns is suing Cardinal Sean P. O’Malley, the Roman Catholic archbishop of Boston, after years of trying in vain to withdraw from a church-run pension fund.
All About Pensions: Private Sector
Robert Hiltonsmith, policy analyst at Demos, and author of their report The Failure of the 401(k), looks at the current state of private sector retirement plans and what alternatives there are to the 401(k) deferred savings plan.
Labor Department Weighs New Definition of ‘Fiduciary’
For the first time in 35 years, Labor Department officials are exploring whether they should change the definition of ‘fiduciary’. The agency wants to make the change so it can better protect the rights of participants, but the benefits community doesn’t see it that way.
All About Pensions: Status Report
Alicia Munnell, director of the Center for Retirement Research at Boston College, professor at Carroll School of Management, and former assistant secretary of the Treasury for Economic Policy is joined by John Turner, director of of the Pension Policy Center, to kick off the pensions series with a discussion of the state of public and private pensions.
401(k) matches missing for many
Many companies, including ones with El Paso operations, stopped or reduced company dollar matches to employees’ 401(k) savings plans during the recession as company revenues declined.
