Four in 10 of those surveyed said that their biggest fear about retirement is that they 'will do all the right things and it still won't be enough for tomorrow.'Read More
The Palo Alto, California-based tech giant contributed a total of $279 million to its U.S. pension plans and $458 million to its non-U.S. pension plans in 2011.Read More
Of survey respondents, 68 percent said their companies have closed defined benefit plans to new or all employees in the past five years. Read More
'The reality is that 401(k)s were never intended to take the place of pensions,' according to New York state comptroller Thomas DiNapoli in a speech at the New School's Schwartz Center for Economic Policy Analysis in New York City.
Changes in the maximum benefit guarantee, which will increase 3.4 percent next year, are linked to wage inflation.
In 2004, as the corporate drive to freeze defined benefit plans was picking up momentum, only 45, or 7.1 percent of 633 Fortune 1000 companies with defined benefit plans, had frozen at least one plan, reports consultancy Towers Watson.Read More
As was the case in the prior fiscal year, the Pension Benefit Guaranty Fund did not incur any multibillion-dollar losses in fiscal 2011.Read More
The consultancy attributed the funding improvement to an 11 percent gain in equity values in October, partially offset by a decrease in corporate bond yields.
Federal agency says of the more than $2.7 billion that was paid out through June 30, 45.6 percent went to governmental entities while 36.6 percent went to commercial entities, such as self-funded private employers.Read More
The proposal would create a pension plan with elements of defined benefit and defined contribution plans and would also raise the retirement age for new state and local government employees to 67.Read More