Northwestern University Fights Retirement Plan Suit in 7th Cir.
Northwestern University defended its retirement plans from a challenge brought by employees, saying the plans are designed to meet the needs of investors with different levels of sophistication and retirement planning objectives.
Legislation giving participants more say in MPRA benefit cuts reintroduced in Senate
Bipartisan legislation giving participants of struggling multiemployer pension funds more of a voice when benefit reductions are being considered was reintroduced Friday in the Senate.
Trump Treasury Backtracks On Lump-Sum Pension Rules Meant To Protect Retirees
The Treasury Department told off employers back in 2015: Lump-sum pension buyouts for retirees already in payout status are a no-no. In practice, employers stopped offering them, per Notice 2015-49, despite the fact that proposed and temporary rules never came out. Now, in a Trump-era twist, the Treasury Department has backtracked with Notice 2019-18, a […]
Braun proposes end to congressional pension
Freshman U.S. Sen. Mike Braun announced Tuesday he has introduced legislation that would eliminate congressional pensions. Braun, R-Ind., was joined on the bill by freshman Sen. Rick Scott, R-Fla. They have named their proposal the End Pensions in Congress Act.
How to Find an Old 401(k) Account
During the frenzy of leaving behind an old job and getting acclimated to a new position, rolling over your 401(k) plan isn’t always your first priority. Some people even lose track of a 401(k) plan at a former employer. Here’s what to do if you’re trying to find funds held in a previous employer’s 401(k) […]
6 Ways Retirement Has Changed Over the Past 25 Years
Twenty-five years ago, Kiplinger’s Retirement Report launched to help readers enjoy a richer retirement. Our first issue, published in February 1994, offered guidance on timely issues of the day, such as how to take advantage of the home-sale-profit exclusion (then $125,000) and how to comply with new rules that for the first time required a […]
MetLife’s $220M Deal Shows Risk In Losing Track Of Retirees
A $220 million settlement with MetLife Inc. secured by the New York Department of Financial Services on Monday marked the latest episode in the fallout over the insurer’s failure to adequately notify almost 30,000 retirees of their eligibility for retirement benefits over the course of 25 years.
Ask Amy: Wife’s text-flirting compels husband to spy
Dear Amy: My wife and I have been married for 15 years. About four years ago I was suspicious of her relationship with a former co-worker and “friend,” whom she had grown very close to.
Super Bowl hero John Riggins now fighting to get more money for older NFL retirees
It has been nearly 36 years since John Riggins produced one of the greatest clutch runs in football history with a 43-yard touchdown rumble on fourth and inches against Miami – kids, check out that stiff-arm on YouTube! — that propelled Washington to victory in Super Bowl XVII.
Retiree Groups Back Northwestern ERISA Suit In 7th Circ.
A group of current and former Northwestern University workers got an assist in their Employee Retirement Income Security Act suit against the school from advocacy groups that urged the Seventh Circuit to revive the workers’ case claiming their retirement savings were mismanaged.
Bipartisan bill looks to help struggling multiemployer plans
Rep. Richard Neal, D-Mass., the new chairman of the House Ways and Means Committee and a longtime proponent of increasing retirement savings, introduced his first bill of the new congressional session Wednesday that focuses on aiding multiemployer pension plans.
Butch Lewis Act approved in the House Education & Labor Committee
By Emily Gilbert On Tuesday, Karen Friedman, Katie Jonckheer (our new summer intern), and I were on Capitol Hill for a markup in the Education & Labor Committee in the House of Representatives. In a markup, a congressional committee votes on whether to approve proposed legislation. On Tuesday the Committee discussed three different bills, one […]
