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Retirement/Pensions

General Motors Retiree Group Rips Plan to Unload Pension Plan

June 15, 2012
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The General Motors Retirees Association, in a June 13 letter addressed to GM CEO Dan Akerson and posted on the organization’s website, says it’s concerned that GM’s plan to shift the pension plan for white-collar retirees to Prudential Insurance Co. of America will eliminate federal insurance of their pension income.
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GM CEO: We're Tackling Biggest Problems—Europe, Pension Obligations

June 13, 2012
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General Motors Corp. CEO Dan Akerson also said he would consider offering a pension buyout to GM's more than 400,000 hourly retirees and dependents as a way to reduce the $134 billion pension obligation on its books, which Akerson said is the largest of any U.S. company. This month, GM said it will offer a buyout to some of its salaried retirees.
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Transamerica Survey Points Out Need to Redefine ‘Retirement Readiness'

June 1, 2012
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More than half of Transamerica Retirement Survey respondents say they don't think they are building a sufficient nest egg—a percentage consistent for all ages of workers.
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General Motors Co. Offers Pension Buyout to Salaried Workers

June 1, 2012
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General Motors Co., in a statement, said the moves should reduce its U.S. pension liability by about $26 billion, a major step in its bid to reduce the $134 billion pension obligation on its books, which GM says is the largest pension liability for any U.S. corporation.
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LGBT Adults Better Prepared for Retirement, Survey Finds

May 30, 2012
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The median amount that LGBT survey participants have saved is $150,000, 17 percent, of the $900,000 they expect to need. The average American has saved about 13 percent of the anticipated needed amount, according to the Wells Fargo study.
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Most Firms With DB Plans to Keep Them Open to New Hires

May 23, 2012
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Among defined benefit plans offered to new hires, 54 percent are hybrid plans such as cash balance plans, which combine elements of defined benefit and defined contribution plans, but legally are defined benefit plans.
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Young Workers on 401(k) Offerings: We Want Sure Things

May 14, 2012
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Gun-shy employees are keen on investments that provide guaranteed income, though there is little interest in diversification.
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Investment Executive Aims to Put Retirement Security on Election Agenda

May 10, 2012
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Putnam Investments' Robert Reynolds laid out a three-point plan—making Social Security solvent, providing employer savings programs to everyone who pays Social Security taxes and raising workplace savings rates to 10 percent—that he said should be addressed in every federal campaign.
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