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.Read More
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.Read More
the law constitutes 'an unconstitutional impairment of plaintiffs' contract with the State of Florida, an unconstitutional taking of private property.'
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.
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.Read More
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. Read More
Financial stress and uncertainty are serious workplace issues, a study by MetLife Inc. shows. Seventy-eight percent of employers said concerns over financial problems could have a negative effect on productivity. The study also found that effective financial education lowers stress, reduces absenteeism and increases productivity among the workforce.Read More
Out-of-pocket costs on drugs and medical insurance are the second most costly item for older folks.Read More