More At Risk of Missing Retirement Goals
A greater number of U.S. households are at risk of falling short of money in retirement because of the housing and financial crisis, according to a report.
How to Find Thousands in Lost Pension Money
My wife and I were hiking with some friends recently, and as often happens now with people our age, we started talking about retirement — more specifically, about whether we’d have enough retirement income to make ends meet.
GE closes DB plan for salaried employees
General Electric has closed its pension plan to new employees hired after December 31, 2010. Employees hired before December 31, 2010 will not be affected by the change.
401(k) plans regaining steam
It’s not just jobs that have been slow to come back during the economy’s spastic recovery from the Great Recession. About half of the U.S. companies that suspended contributions to their employees’ retirement savings after 2008 haven’t restored them yet.
PRC comments to EBSA on proposed amendments to regulations concerning target-date funds and QDIA (01/14/2011)
Pension Rights Center submitted comments [PDF] on the Department of Labor’s proposed amendments to the qualified default investment alternative regulation and the participant-level disclosure regulation concerning disclosure of information by target-date or similar funds.
Lay employees file suit against Diocese to protect pensions [text and audio]
The Catholic Diocese of Wilmington faces yet another legal challenge in their bankruptcy case.
Why Lump Sum Pension Payments Are a Bad Deal for Most Retirees
Traditional pensions are an endangered species in the private sector. But if you’re lucky enough to have one, you may face a choice at retirement: Take the money as a lump sum, or as a monthly lifetime annuity-style payment?
PRC Letter to the IRS regarding the faulty definition of “active participant” in 401(k) plans
August 5, 2010: The Pension Rights Center sent a letter to the IRS, asking it to revert back to a definition of an “active participant” in 401(k) plans that is accurate and useful.
Letter from PRC and other organizations to the U.S. Senate regarding 401(k) fee disclosure provisions in H.R. 4213
June 15, 2010: The Pension Rights Center and seven other organizations sent a group letter to members of the U.S. Senate, urging them to restore provisions to H.R. 4213 that would make 401(k) fees more transparent and straightforward.
Give all Americans a secure retirement
Thanks to the big expansion of Social Security in the 1970s and the growth of employer pension plans, many Americans have retired, grown old and still managed to remain part of the middle class. But the system is eroding because of the change in the way pensions are delivered.
OPM pension errors force thousands to pay up
Due to its own errors, the Office of Personnel Management for nearly five years undercharged thousands of federal employees for pension contributions. Now, OPM is demanding they immediately pay — in some cases thousands of dollars — to correct their pension accounts.
Retirement Looms: Time to Get Nervous
Now that baby boomers are starting to hit the official retirement age, they face a variety of financial headaches that previous generations avoided
