Report Highlights Continued Decline in Defined Benefit Plans
Only 49 percent of 200 of the largest U.S. companies had ongoing defined benefit plans in 2009, down from 61 percent in 2006, according to Mercer’s Retirement, Risk and Finance Perspective.
DC plan fee disclosure rules delayed
Defined contribution plan providers got a reprieve Friday on new fee disclosure rules after the Department of Labor’s Employee Benefits Security Administration pushed back the applicability date to Jan. 1, 2012.
3 Ways to Conquer Pension Envy
The haves and have-nots in retirement could be defined by who has access to a traditional pension. Those with an employer-sponsored traditional pension will get guaranteed payments for life, while everyone else must depend on their own saving and investing savvy.
DC group wants 401(k) deferral ceiling axed
A defined contribution industry group wants to remove a 10% cap on automatic escalation deferral rates for 401(k) plan participants.
Do Retirees Need to Cut Withdrawals?
Many people who retired in 2000 thought they were in great shape: over the previous twenty years, stocks returned 17.8% on average.
New Fee Disclosure Rules: No Threat to Mutual Fund Providers
Mutual fund providers are expecting to make a largely smooth transition when new fee and disclosure requirement take effect for firms that sell investment products into the 401(k) and 403(b) plan markets.
PRC and NELA comments to EBSA on proposed regulations on the definition of a fiduciary (02/03/2011)
The Pension Rights Center (the Center) and the National Employment Lawyers Association (NELA) submitted comments on the Department of Labor’s proposed regulations on the definition of fiduciary. The organizations support the proposed regulations, calling them “much-needed and long-overdue.”
34% of Americans Have No Retirement Savings
Just over one-third, 34%, of Americans have no retirement savings, and 27% have no personal savings, a November 2010 survey of 2,151 by The Harris Poll found.
‘New Normal’ for Retirement: Get a Job
Middle-class Americans need more help than they realize in planning for retirement, according to the results of a survey from Wells Fargo & Co.
Wealthy women fear they’ll outlive retirement money
Wealthy women expect to be more active than their male counterparts in their retirement years, but they’re also more worried about outliving their retirement funds, according to a Bank of America Merrill Lynch study released Monday.
9 Retirement Benefit Changes Coming in 2011
Many employers are planning to tweak their retirement benefits this year. Nearly 70 percent of firms plan to review their 401(k) and pension programs and potentially make changes in 2011, according to an Aon Hewitt survey of 210 companies employing 6.2 million workers.
Archdiocese of Milwaukee pension plans underfunded
The Archdiocese of Milwaukee said Friday that its employees’ pension plans are underfunded, confirming one of the fears expressed by Catholic Church employees since the archdiocese filed for Chapter 11 bankruptcy protection on Jan. 4.
