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.
Face It. 401(k)s are a Failure
The first wave of attacks on public sector unions has highlighted the issue of pensions in the U.S.
5 ways to revive pensions in the private sector
Can anything be done to bring back the Great American Pension in Corporate America, where it’s an endangered species?
At DOL Hearing, Officials Seek Answers About Value of Investment Advice Disclaimers
Department of Labor officials asked panelists during hearings March 1 and 2 whether requiring certain conflicts of interest involving investment advisers to be fully disclosed would be as effective at protecting retirement plans, participants, and beneficiaries as prohibiting those conflicts of interest. Reproduced with permission from BNA Pension & Benefits Reporter, 38 BPR 459 (Mar. […]
Sen. Harkin: New retirement scheme hinges on advisers
A congressional leader sees a key role for investment advisers in his vision for reform of the retirement system.
Retirement Security: A Thing of the Past?
While pensions seem less affordable than ever, they remain the overwhelming retirement choice of consumers. According to new research, the Great Recession exposed such fundamental flaws in America’s retirement support system that consumers overwhelmingly think the current system is broken beyond repair.
Joint letter to Oklahoma State Senate protesting legislation on military pensions (03/07/2011)
The Pension Rights Center and six other organizations sent a letter to the Oklahoma State Senate protesting a bill that would significantly cut spousal protections for former military spouses. The bill would have eliminated retirement benefits for former military spouses who remarry or cohabitate. While the bill passed the Oklahoma State Senate, it failed to secure […]
An Overblown ‘Crisis’ For State Pension Funds
In early 2010, Goldman Sachs announced two blockbuster numbers: profits of $13.4 billion for the prior year and compensation of $16.2 billion — the equivalent of about $500,000 for each employee at the Wall Street titan.
