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Retirement/Pensions

U.S. Senate Passes Pension Funding Relief in Highway Bill

March 16, 2012
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The U.S. Senate on March 14 approved allowing corporate defined benefit pension plans to base their contribution calculations on interest rates over a 25-year average rather than current interest rates, which have sent contribution payments soaring.
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Talkin' About Their Generations: The Workforce of the '50s and Today

March 15, 2012
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To celebrate Workforce Management's 90th anniversary, we're running a series of articles looking at important workforce-related issues with a then-and-now theme. This installment examines generational issues in the workforce in the 1950s and today. Next month, we look at the 1960s and the civil rights movement.
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Dreams of Comfortable Retirement Ebb Among Americans: EBRI

March 13, 2012
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Thirty percent of those surveyed have virtually no savings or investments, and 60 percent reported less than $25,000 in savings, excluding the value of their home or any defined benefit plans.
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Live Chat: Repairing Retirement

March 8, 2012
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Join Workforce Management Senior Writer Rita Pyrillis for a one-hour live chat on today's retirement strategies. Are defined benefits dead? Is the 401(k) fatally flawed? Is a new era of greater retirement stability on the horizon? How are you coping with your employees' retirement concerns? Join in the conversation Thursday, March 22, at 1 p.m. ET.
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Judge Rules Law Mandating State Employee Contributions Is Unconstitutional

March 7, 2012
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the law constitutes 'an unconstitutional impairment of plaintiffs' contract with the State of Florida, an unconstitutional taking of private property.'
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Fortune 1000 Firms' Pension Plan Funding Falls to 78% in 2011

March 6, 2012
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The aggregate funding level of 422 pension plans offered by Fortune 1000 companies fell to 78 percent in 2011, down from 84 percent in 2010 and 81 percent in 2009, according to Towers Watson & Co. analysis.
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Changes Necessary in Company Pension Plans

March 2, 2012
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In the January/February 1936 edition of The Personnel Journal, C.P. Cochrane from the Eastman Kodak Co. wrote about pension plans. He concluded that in spite of all the difficulties, private annuity plans should be continued where it is at all possible. Read the rest of Cochrane's article here.
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GM Pension Plan Underfunding Rises in 2011

February 28, 2012
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To reduce liability growth, GM will completely freeze defined benefit plans covering salaried employees, effective Oct. 1, completing a process it began several years ago.
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