Results for "defined benefit plans"

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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,...

Learning how to handle stressed clients

October 5, 2014

In her first 10 weeks in the financial advice profession, Amanda Moore learned that advisers deal with clients at tense moments in their lives. Ms. Moore, 23, a resident in financial planning at Cornerstone Wealth Advisors in Edina, Minn., is...

Deadline looms for small-business 401(k) plans

September 25, 2014

The deadline for advisers to nudge their small business clients into opening a basic retirement plan is right around the corner. Small employers hoping to set up a new SIMPLE IRA, SIMPLE 401(k) or a safe harbor 401(k) have until Oct. 1 to do...

Strategies arise to take advantage of new IRS after-tax rollover

September 24, 2014

Advisers are weighing strategies in light of the IRS' recent announcement on its treatment of after-tax money in 401(k) plans, but those opportunities might be hard to come by at the employer level. Last week, the Internal Revenue Service released...

3 tips for tomorrow's retirement plan adviser

September 21, 2014

25 years ago, the main focus for retirement plan advisers was picking funds for a 401(k) in-vestment menu. While that seems increasingly anachronistic, one of the original selling points of the 401(k) was that it offered a broad range of choice...

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...

Lump sum or monthly pension? How I made my decision

August 17, 2014

Recently, an investor wrote to me asking if he should accept his employer's offer of a lump-sum payout in lieu of a monthly pension. Of course, such a decision depends on a person's financial needs, life expectancy and access to other assets,...

Soldiers lured out of federal retirement plan

August 12, 2014

John Turner suspected that brokers were encouraging federal workers to ditch their top-flight retirement plan. So he went under cover. The former U.S. Labor Department economist called representatives at companies such as Bank of America Corp.,...

GAO report calls for more disclosure of managed accounts in 401(k)s

July 31, 2014

The U.S. Government Accountability Office is calling on the Labor Department to step up disclosure requirements for managed accounts in 401(k) investment lineups. In a 92-page tome released on Tuesday, the GAO discussed its analysis of eight...

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...

Missouri bars pension advances for public workers

July 9, 2014

Missouri's governor Jay Nixon on Tuesday signed a law that made it the first state to bar pension advances — a practice wherein retirees are offered a lump sum in exchange for signing over all or part of their income stream — for public...

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,...

Hartford Financial Services Group names a new CEO

June 9, 2014

Hartford Financial Services Group Inc. promoted Christopher Swift to chief executive officer to replace Liam McGee, who is stepping down after a medical procedure related to a brain tumor. Mr. Swift, the 53-year-old chief financial officer who...

Bill Gross bets on shorter-term bonds in a controversial 'new neutral' strategy

May 29, 2014

Bill Gross swims against the current by betting on shorter-term Treasuries. But bond manager rivals say the 'new neutral' approach is risky and wrong. Pimco Total Return Fund's last ditch effort to stand out BlackRock's Larry Fink says leveraged...

The retirement apocalypse that isn't coming

May 26, 2014

Grandma's much-anticipated Arctic cruise becomes a slow drift away on an ice floe. Grandpa mortgages his kidneys to pay for a new heart. Social Security is deader than disco and "IRA" only refers to guys named Ira. That bleak vision is only...

Rubio outlines Social Security reforms

May 13, 2014

Sen. Marco Rubio, R-Fla., on Tuesday called for changes to federal retirement programs that would encourage senior citizens to extend their careers, saying they were a key way to help improve their ability to finance retirement. The Social Security...

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...

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...

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...

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...

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