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Retirement/Pensions

Pension Envy for Employees Not On the Government's Dime

December 7, 2012
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A recent analysis by Hearts & Wallets of individuals who are near or in retirement showed that those with a public pension are happier in retirement and have higher income than those who don't have a defined-benefit plan.
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Year-End Pension Funding Gaps Could be Largest on Record: Mercer

December 7, 2012
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The aggregate funding deficit in pension plans sponsored by S&P 1500 employers narrowed to $607 billion in November, down $12 billion from the $619 billion deficit recorded in October.
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Fiscal Cliff Talks Target Retirement Plans

December 3, 2012
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Retirement plans are in congressional crosshairs for one basic reason: the tax-deductible contributions made to the plans cost the government tens of billions of dollars a year in reduced tax revenues.
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AMR Seeks Court Approval to Remove Lump-Sum Benefit Option in Pilots' Pension Plan

November 28, 2012
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American Airlines Inc. parent AMR Corp. has asked a federal bankruptcy court in New York for permission to allow the airline to amend its frozen pilots' pension plan so that retiring pilots cannot receive their accrued benefits as a lump-sum.
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Hostess Brands to Terminate Pension Plan as Part of Liquidation

November 19, 2012
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Hostess suspended payments to the 42 multiemployer pension plans to which it contributes in August 2011. The company's IBC Defined Benefit Plan had about $56 million in assets and $111 million in liabilities as of April 30, according to the PBGC.
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The (Employer) Match Is Back

November 16, 2012
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Recent data show that employers have not only restored the matching 401(k), but also that employees are contributing more to their retirement plans as well.
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PBGC Deficit Hits Record $34 billion in 2012 Fiscal Year

November 16, 2012
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The deficit in the PBGC's insurance program for single-employer plans climbed to $29.1 billion in fiscal 2012, up from $23.3 billion the previous year. The deficit in the agency's insurance program that covers multiemployer pension plans climbed to about $5.2 billion, up from $2.8 billion the previous year.
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401(k) Plan Balances Hit Record High for 2012: Fidelity

November 8, 2012
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For the three-month period ending Sept. 30, employees' average account balances jumped 4.2 percent from the prior quarter, and 18 percent compared with the end of the third quarter of 2011 when account balances averaged $64,300, according to Fidelity Investments.
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States Up the Pressure on Retirement Plans for Private Workers

November 8, 2012
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California's new state-administered retirement savings program for certain private-sector workers could serve as a model for other states.
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American Airlines Freezes Its Pension Plans

November 2, 2012
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In January, American said it would seek bankruptcy court approval to terminate the plans, which have about 130,000 participants.
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