Making the Most Out of Less
This year, the first of the nation’s 79 million baby boomers turn 65, and while millions dream of comfortable retirements, perhaps in Boca Raton, Fla., or Palm Springs, Calif., many will discover they will have a tough time in retirement.
9 Signs Your 401(k) Stinks
It looks like droves of public employees may soon be joining the ranks of 401(k) nation. A growing trend in cash-strapped state and local governments is to push for new retirement benefits that shift workers out of traditional pensions and into the less secure world of the 401(k).
Testimony of Norman Stein before the Department of Labor on proposed regulations defining fiduciary (March 1, 2011)
Senior Policy Counsel Norman Stein testified before the Department of Labor on proposed regulations that would expand the definition of the term “fiduciary”. See the comments submitted by the Pension Rights Center on this proposed regulation. Read the blog entry PRC’s Jane Smith wrote on the subject.
DOL to Issue Final Rule on Fiduciary by Year-End: Borzi
Phyllis Borzi, assistant secretary for the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) said Tuesday that the EBSA plans to “refine” the text of its proposed regulation amending the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) and issue a final rule by year-end.
DOL, industry spar over fund lineups
The Labor Department and representatives from service providers and pension advocacy groups today sparred over whether presenting a retirement plan with a fund lineup constitutes investment advice.
7 Conflicts of Interest in Your 401(k) Plan
Employer-sponsored 401(k) plans are riddled with conflicts of interest, according to a Government Accountability Office report released this week.
GAO Slams 401(k) Plans for Conflicts of Interest
The nation’s 401(k) retirement plans are riddled with conflicts of interest that are causing financial damage to tens of millions of savers, according to a Government Accountability Office report released today titled Improved Regulation Could Better Protect Participants from Conflicts of Interest.
Economy puts some retirements at risk
Some Americans who put money aside and invested in 401(k)s and other retirement plans thought they had it made, but a new analysis finds that many haven’t saved nearly enough.
Paying for Old Age
Anyone planning for retirement must answer an impossible question: How long will I live? If you overestimate your longevity, you might scrimp unnecessarily. If you underestimate, you might outlive your savings.
GE’s deep pension freeze
When I first saw the story that General Electric (GE) was closing its traditional pension plan to new hires I thought about lifelong activist and friend Helen Quirini and knew that she would be furious! Helen was a long-time GE employee who fought for cost-of-living adjustments in GE retirement plans. Sadly, Helen died last fall, […]
GAO lifts hood on target date funds – and finds big problems
The U.S. Government Accountability Office has recommended several major changes to the use of target date funds in 401(k) plans after finding that investments in funds with similar end dates vary wildly.
Fidelity: market gains push 401(k)s to record high
Small companies catch up to larger ones on restorations.
