What to do if your pension freezes over
Things have changed since Grandpa retired with his gold watch. The old-fashioned pension plan he was awarded for years of loyalty to his employer is going the way of the IBM Selectric typewriter.
GE’s deep pension freeze
When I first saw the story that General Electric (GE) was closing its traditional pension plan to new hires I thought about lifelong activist and friend Helen Quirini and knew that she would be furious! Helen was a long-time GE employee who fought for cost-of-living adjustments in GE retirement plans. Sadly, Helen died last fall, […]
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.