The CFPB says, “When employees choose a lump-sum payout instead of a monthly pension payment, the responsibility for managing and investing the pension money shifts from the employer to the employee.
People aren’t saving enough for retirement. Are state-based retirement plans an answer, with the requirement that employees have to opt out to not participate?
Savings rates among younger workers are inching up while older workers are socking money away in a last-minute effort to secure their retirement.
If your former employer offers to buy out your pension, would you take the deal?
Public pensions don’t appear to be the budget wreckers that critics would have us believe.
A whopping 84 percent of Americans say everyone should have a pension. Wouldn’t that be nice?
The retirement industry provides good and bad news this week. Let’s focus on the good news.
New rules require local public entities to make clear to taxpayers how much they owe for pensions vs. how much money is available. Get ready for the shortfall.
Influential policymakers and execs in the retirement industry say America is in a retirement crisis.
If you’re lucky enough to work for state or local government, you might think you don’t have to worry so much about retirement planning since you’ve likely been promised a pension. But in recent years, troubles have been brewing among public pension plans all around the country.
In the last week alone, Plansponsor.com reported problems with three state plans:
New Hampshire: The House of Representatives approved a proposal to put an end to pension plans for public workers and instead offers a 401(k)-type plan. Facing a funding shortfall of $4.1 billion-plus for retirement and medical benefits, last year the legislature raised the retirement age at which future workers would qualify for benefits and increased employee contributions to their pension.