Results for "defined benefit plans"

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Tax reform: How the House bill changes rules for retirement savings

November 3, 2017

The headline news for retirement plan advisers Thursday upon the unveiling of the House tax bill was that a reduction in the pre-tax 401(k) savings limit is off the table, for now. But there are plenty of other details in the tax-reform legislation,...

Trump administration seeks to give boost to 401(k) annuities

October 31, 2017

The Trump administration wants to give a shot in the arm to annuities in 401(k) plans by encouraging rules to make it more palatable for plan sponsors to offer such products. The Treasury Department issued a report calling for the Labor Department...

As longevity stalls, corporations enjoy a windfall on pensions, benefits

August 8, 2017

Steady improvements in American life expectancy have stalled, and more Americans are dying at younger ages. But for companies straining under the burden of their pension obligations, the distressing trend could have a grim upside: If people...

How to (and not to) work effectively with teachers as 403(b) clients

August 23, 2017

Teachers desperately need unbiased financial guidance. However, that guidance is in short supply, especially for public schoolteachers. More than ever, their security blanket of guaranteed pension income needs to be supplemented by defined contribution...

Pensions offer the self-employed flexibility

December 5, 2010

As of late, most financial advice regarding retirement options has been geared toward company employees. While that covers the largest demographic of working individuals, many Americans do not fall into this category. More than 12% of American...

Careful planning can help public employees avoid Social Security reductions

August 9, 2016

Nothing angers public employees more than rules that reduce the Social Security benefits they have earned by working in the private sector when they are also eligible for a government pension based on work where they did not pay FICA taxes....

ING closes $900M CitiStreet acquisition

July 1, 2008

ING Groep announced today that it completed the acquisition of CitiStreet LLC, one of the premier retirement plan and benefit service organization’s in the United States. The deal makes Hartford, Conn.-based ING Wealth Management, a division...

IRS shuts lump-sum window for retirees already receiving benefits

July 10, 2015

Defined benefit plan sponsors can no longer replace annuity payments with lump-sum distributions to retirees and their beneficiaries, the IRS said Thursday. With the amendments applying as of July 9, “it definitely has an immediate impact,”...

Social Security rules for divorced public employees

February 19, 2015

Divorced couples who were married for at least 10 years can claim Social Security benefits on each other's earnings records as if they are still married. But questions may arise when one of the ex-spouses is a public sector employee. Last week,...

Retirement: From theory to practice

July 15, 2014

After decades of writing about retirement planning, I finally get to eat my own cooking — at least the appetizer course. My husband, Mike, retired June 30 after more than 20 years as a federal government employee. On July 1, we began a new...

Pension advance companies rip off retirees, GAO report says

July 8, 2014

So-called pension advance companies are taking advantage of retirees by offering lump-sum payments in return for a piece, or all, of their monthly pension income, according to a Government Accountability Office report. Through undercover investigations,...

How public employees can get around Social Security restrictions

October 8, 2014

In a recent column, I wrote about rules that can reduce or eliminate Social Security benefits for public sector employees. I explained that there are two sets of rules. The first, the Windfall Elimination Provision, applies to some federal,...

Social Security offset rules can cut or eliminate benefits

August 28, 2014

As a financial adviser, it is critical to know whether your clients who have worked for city, state or federal government — or in some cases, public school systems — may be affected by rules that can reduce or eliminate their Social Security...

What will be the next big thing for 401(k) plans?

April 13, 2017

Defined contribution plans have been around for about four decades, and have been popular with small and mid-sized companies for about 25 years. The evolution of 401(k) plans and 403(b) plans over that time, during which they became a replacement...

Industry rails against claims the 401(k) should be "retired'

October 25, 2009

Providers of 401(k) plans have lambasted a critical article published Oct. 9 in Time magazine denouncing the 401(k) system. In “Why It's Time to Retire the 401(k),” Stephen Gandel argued that the 401(k) system isn't a sufficient vehicle...

Losing relied-upon benefits, government workers delay retirement

May 13, 2009

The slumping economy is causing even state and local government employees, who typically get traditional fully loaded pensions, to hold off on retirement, according to a survey released today. Forty-nine percent of government managers said that...

It's time to 'fix' the 401(k) plan

April 26, 2009

There is a crisis in defined contribution retirement plans. In addition to devastating market losses, employers are ceasing their matches. Many target date funds, designed to protect participants' plan balances as they approach retirement, have...

Top earners took hardest hits to their 401(k)s, EBRI study finds

August 5, 2009

The median asset levels in 401(k) plans dropped at least 15% from yearend 2007 to mid-June 2009, but the affluent and wealthy saw much heftier losses, according to a report released yesterday. The analysis — by the Washington-based Employee...

Defined contribution plans doubled asset growth of pensions in 2014

February 11, 2015

Total assets of the largest 1,000 U.S. retirement plans grew 8.5% to $9.055 trillion on Sept. 30, Pensions & Investments' annual survey found. Defined contribution plans among the top 1,000 increased 12.8% to $3.022 trillion, double that of...

Outlook for 2017 retirement plan litigation

January 3, 2017

2016 saw an uptick in litigation targeting retirement plan fiduciaries, and 2017 will see more of the same, plus the resolution of the definition of a church plan with respect to organizations affiliated with churches, and more cases involving...

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