For their retirement, NFL players partly rely on a multiemployer plan that’s on shaky ground, not unlike some other plans.
With most states looking for ways to pay for government employee pension obligation, how much money government employees earn in retirement vs. the rest of us is a hot topic in many retirement planning circles. The Center of Retirement Research at Boston College examined whether government employees get a better retirement deal, ending up richer
The financial repercussions of the Great Recession will last into retirement for many people because their retirement incomes are inextricably linked to the amount of money they earn in their working years. Everything from old-fashioned defined benefit pensions to balances in 401(k) plans as well as Social Security is tied to pay. The Urban Institute,
Pensions have been in the news a lot lately, from reports about lackadaisical planning to the continued erosion of defined benefit plans to the prospect of federal pensions being entangled in the debt ceiling/budget-cutting drama in Washington. On the lighter side, Fidelity Investments released a survey this week highlighting the problem of ignorance among pension
Traditional defined benefit pensions, which for most of the last century were a fixture of American life, are about to become a relic of the past. The Standard & Poor’s 500 reported Thursday that among its companies, pensions and other post-employment benefits remain underfunded by $210 billion. “Even with a 15 percent equity return and
The U.S. Supreme Court made one thing clear in yesterday’s Amara v. Cigna decision: Employees are on their own to understand what their pension paperwork actually says. In 1997 and 1998, Cigna, the Philadelphia-based insurance company, converted its traditional pension plan to a cash balance plan. It gave its employees a synopsis of the plan
In case you haven’t noticed, the boss isn’t getting anymore generous with retirement benefits. According to employee-benefits consultant Aon Hewitt: Traditional pensions are going away. Of the 1,300 employers in the consultant’s database, 34 percent had a defined benefit plan in 2010, compared to 61 percent in 2005 and 73 percent in 2000. Of those