Despite the dour results of a recent survey, experts say employers can boost workers' retirement confidence. A Texas credit union is doing exactly that with its 'millionaires club:' Its HR department set up the club to encourage high savings rates among its employees.Read More
The market value of pension plan assets increased by about $37 billion to about $1.246 trillion in 2011. But the value of plan liabilities leaped by about $133 billion to about $1.573 trillion.
Under the ERRP, early retiree health care sponsors are reimbursed for 80 percent of claims—up to $90,000—after a participant incurs $15,000 in expenses.Read More
Plan participation, investment options are not always true measures of a plan's performance.
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.
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
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.
While older workers tend to be more concerned about retirement than their younger colleagues, the survey found that the most dramatic shift in attitudes toward retirement security has been among the under-40 set.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