Results for "defined contribution plans"

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Pension envy for employees not on the government's dime

December 7, 2012

Good days are ahead for government employees if they're lucky enough to have pension plans. A recent analysis by Hearts & Wallets LLC of individuals who are near or in retirement showed that those with a public pension are happier in retirement...

Surprise! Plan sponsors chose advisers based on comfort, fit — not pricing

December 4, 2012

Fees are important to plan sponsors shopping for financial advisers, but they're not necessarily a deal breaker. In fact, in a study of sponsors by Franklin Templeton Investments and Chatham Partners, pricing came in fourth when employers were...

Hold the phone: Retirees aim to block Verizon pension pass to Pru

November 30, 2012

A pair of Verizon Communications Inc. retirees have filed suit against the company to deter it from transferring its pension liabilities to Prudential Insurance Co. of America. Former employees William Lee and Joanne McPartlin sued Verizon and...

IRS eases retirement loan procedures for Sandy victims

November 19, 2012

People affected by Hurricane Sandy, or their close relatives, can tap qualified retirement plans without having to follow certain procedures for hardship withdrawals, the Internal Revenue Service said. Taxability rules will still apply. The...

Does Pru's hiring of DOL big signal reg changes for stable value?

November 13, 2012

Michael L. Davis, second-in-command of a major division at the Labor Department, has become the head of Prudential Financial Inc.'s stable value business — sparking chatter that the insurer is gearing up for potential regulatory developments....

Legg's plan for savings

November 11, 2012

To take advantage of football season, the Legg Mason Retirement Advisory Council has kicked off the First & Ten retirement savings program. First & Ten is Legg's latest effort in a series of projects intended to encourage people to sock away cash...

End of pension tax breaks would pay for 'stupid stuff,' says ASPPA boss

October 29, 2012

On the eve of Hurricane Sandy's arrival in Washington, D.C., the American Society of Pension Professionals and Actuaries announced Sunday it is launching a lobbying initiative designed to protect tax deferrals for worker contributions to employer-sponsored...

Retirement plan limits less limited next year

October 24, 2012

American workers will be able to contribute slightly more to their 401(k)s and other employer-based retirement plans next year, as well as to their Individual Retirement Accounts, the Internal Revenue Service announced this week. The maximum...

Goldman offers DC plans an alternative with fund

October 21, 2012

In the latest effort to address some of the asset allocation challenges and missteps seen on most employer-sponsored defined-contribution plans, Goldman Sachs Asset Management has launched an alternative strategy specifically for DC plans. Although...

Verizon-Pru deal the latest move to reduce pension liability

October 18, 2012

Some 41,000 retired managers of Verizon Communications Inc. soon will be receiving their monthly pension benefit via an annuity payment from Prudential Financial Inc. The telecom giant announced a deal with the insurer yesterday, effectively...

Retirees take some lumps from lump-sum offers

October 17, 2012

Employers continue to move away from traditional pension plans, replacing them with 401(k) plans that shift the burden of saving for retirement and managing investment risks to employees. And they're increasingly offering to buy out pensions...

Goldman offers DC plans true alternative with novel fund

October 15, 2012

In the latest effort to address some of the asset allocation challenges and missteps seen on most employer-sponsored defined contribution plans, Goldman Sachs Asset Management appears to be headed in the right direction. While the clunky name...

California offers to run pensions for small employers

October 2, 2012

California Governor Jerry Brown signed a law that permits as many as 6.3 million private workers without a pension plan to set aside retirement money for management by the state. It is the first state-run pension program for nongovernment employees...

Rob Arnott: The glide path illusion

October 2, 2012

The following is excerpted from September's Fundamentals newsletter that is published by Rearch Affiliates. To see the full newsletter, including accompanying tables, click here. Young adults should buy stocks; mature adults should favor bonds....

Mary Beth Franklin: The secrets of successful savers

September 7, 2012

Are you sick of hearing about the failed 401(k) system and the looming retirement crisis in America? Me, too. Well finally, there's some good news about retirement savings and just in time for 401(k) Day which is Friday September 7. (Who knew?...

Tool aims to help DC plan participants make better decisions

August 19, 2012

This week's column is brought to you by Allianz Global Investors. Don't worry. I don't mean that in an advertising sense but rather in the form of insights gleaned from a demonstration of the company's new PlanSuccess System — the online-tool...

3% deferral rate for 401(k)s not nearly enough: Mary Beth Franklin

June 19, 2012

The fate of boomers' retirement may be mostly sealed, but it's not too late for employers to help rescue their younger workers — many of whom have misguided notions about how much money they should sock away. “Employers and providers are...

Dueling fiduciary standards from SEC, DOL 'not workable,' says industry expert

June 18, 2012

The Department of Labor official who is leading the effort to strengthen fiduciary-duty rules for retirement plans said that she is coordinating with the Securities and Exchange Commission on fiduciary policy but asserted that each agency will...

Goldman retirement exec joins J.P. Morgan Retirement Plan Services

June 4, 2012

J.P. Morgan Retirement Plan Services LLC has brought Bill McDermott on board as head of sales and client solutions at the massive record-keeping unit. He joins from Goldman Sachs Asset Management, where he had led the defined-contribution business....

GM follows in Ford's tracks, offers lump sum to retirees

June 1, 2012

Apparently, as Ford Motor goes, so goes GM. General Motors Co. on Friday announced plans to cut its pension obligation by $26 billion by offering lump-sum payments to about 42,000 white-collar retirees. The nation's largest automaker is also...

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