Pension Insurance Limits Won’t Grow in 2011
The maximum insurance benefit for participants in traditional pension plans that terminate in 2011 will be $54,000 per year for those who retire at age 65, the government agency that insures private sector pensions announced last week.
For many over 55, debt defers dreams
A growing number of Americans age 55 and older have put their retirement dreams on hold as they face a dismal financial reality: The recession has forced many into unemployment, stripped away years of their savings or dramatically reduced incomes during what they had hoped would be their final high-earning years.
What would Americans do if the retirement age were increased?
Answer depends on your profession — certain jobs just harder to do.
New law allows you to track 401(k) fees
If you’ve tried to determine the fees and expenses of your 401(k) plan, you’ve most likely found that it’s a frustrating hunt. But that’s going to change when a new rule dictating the disclosure of fees takes effect.
United Space Alliance to terminate pension plans at year’s end
United Space Alliance will terminate all defined pension benefit plans as of the close of this plan year, the company announced to employees last Thursday in an internal memo.
Companies Pump Up Pension Plans
Big employers are stuffing bigger-than-needed contributions into their pension plans to head off troubles in the future and to cut their taxes at a time of ultra-low investment returns elsewhere.
New 401(k) disclosure rules will improve retirement plans
The 401(k) plan is a critical part of most workers’ financial future, but it comes with less information than a loaf of bread at the supermarket.
Retired and broke: Why retirees are declaring bankruptcy
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.
Labor Department Rule Expands Adviser Responsibility for 401(k) Plans
The U.S. Department of Labor wants to expand accountability for employer-sponsored retirement plans to investment advisers.
U.S. Pension System Ranks Low
A new report comparing pension systems in 14 countries, ranks the U.S. a lowly 10th, behind the Netherlands, Switzerland, Sweden, Australia, Canada, the United Kingdom, Chile, Brazil and Singapore.
New retirees shortchanged: 6- to 12-month waits for full pension checks
Energy Department employees Karen and Lavelle Adams of Upper Marlboro, Md., retired in June. Since then, it’s been a nightmare.
