Private sector pension de-risking and participant protections
On Nov. 5, 2013, the ERISA Advisory Council submitted findings and recommendations on pension de-risking to the Secretary of Labor. Pension de-risking transactions have received a lot of attention lately, both in the media and among sponsors of defined benefit pension plans. Therefore, this communication from the Advisory Council is an important summary of the […]
Women hit harder than men by retirement
Both men and women are facing a retirement crisis, but it disproportionately affects women, according to the Pension Rights Center. The retirement income deficit is $6.6 trillion, which is the gap between what people have currently saved and what they will need to retire comfortably. Women continue to be hit the hardest, even though more […]
Your retirement-planning time table [SLIDESHOW]
It pays to consider the details early—even 15 years ahead
March: Women’s History Month — and the Winter of Our Retirement Discontent
I typically associate the month of March with the taming of the winter just about now, when spring flowers begin to sprout, and we look forward to new beginnings. However, the month is also “Women’s History Month” – a time to celebrate women’s accomplishments in this country so that can appreciate and understand where women […]
Karen Friedman appears on MSNBC’s Melissa Harris-Perry Show [VIDEO]
PRC Executive Vice President and Policy Director Karen Friedman was a panelist on the Melissa Harris-Perry Show to discuss pensions and the retirement income crisis. Washington Post editorial writer and MSNBC contributor Jonathan Capehart was guest host for the program. The other panelists were writer Arun Gupta, Lynnette Khalfani-Cox of The MoneyCoach.net, and Connie Razza […]
Companies Prepare To Dump Pension Plans In 2014
Will your defined benefit pension be the next to be “derisked” and then dumped? Clorox froze its defined benefit pension plan in 2011, and now it’s taking steps to prep the plan in case the fiduciary committee decides to offload it onto an insurer, according to a Clorox executive who spoke at a recent Mercer […]
Little-known government benefit protects retirees [VIDEO]
The Western States Pension Assistance Project is profiled in this television news story. The Project is one of seven regional pension counseling projects that provide free legal assistance to anyone with a question about their traditional pension, 401(k), or other employer-sponsored retirement plan.
Boeing’s Pension Scale Back Is a Sign of the Coming Times
The past week has brought two ultimately related pieces of news. Boeing announced it would freeze pensions for 68,000 non-union workers and move them into a 401(k)-style retirement plan, according to Bloomberg. The change starts in 2016 and is intended to cut costs, according to the report.
Testimony of the Pension Rights Center in support of S.B. 249, an Act Promoting Retirement Savings before the Committee on Labor and Public Employees of the Connecticut General Assembly (March 11, 2014)
On March 11, 2014, Karen Friedman testified in support of S.B. 249, An Act Promoting Retirement Savings, a proposal that would use the efficiences of the Connecticut state retirement system to administer a new retirement savings plan intended for low-income private-sector workers who are not covered by an employer-sponsored retirement plan. Senator Holder-Winfield, Representative Tercyak, […]
The Best 401(k)s Set a Higher Bar for Others
Every December for five years, BrightScope, a financial research firm based in San Diego, has published a list of the top 30 401(k) plans. These standouts provide, among other qualities, generous company contributions, quick access to that corporate money, low fees and a wide array of investment options.
“I am not Margaret Mead” [VIDEO]
Karen Friedman appears in this video about women and retirement that the Service Employees International Union created for Women’s History Month.
Boeing freezing nonunion workers’ pensions in 2016
About 10,500 nonunion Boeing employees in St. Louis will see their pensions frozen in 2016 as the company moves to limit its costs for employee retirement.
