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Retirement Planning

The Rise and Fall of Employer-Sponsored Pension Plans

January 24, 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 the history of employer-sponsored pension (defined benefit) plans with a focus on the turbulent 1930s, what's happening with those plans today, and what the future of employer-sponsored retirement looks like. Next month, we look at the 1940s and the return of veterans into the workforce.
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Ford Focus on Retirement

January 24, 2012
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A ‘Father's' Wisdom: An Interview With Ted Benna

January 20, 2012
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As part of our 90th anniversary, Workforce Management is talking to some of the people and organizations that helped influence today's workplace. In this installment, Workforce Management contributor Patty Kujawa speaks with Ted Benna, the "father" of the 401(k). In the early 1980s, Benna, a benefits consultant saw an opportunity in the tax code that ultimately made 401(k) plans flourish. It earned him the "father" title. Benna says at the time there wasn't a strong incentive for employees to contribute. So in 1981 he asked the Internal Revenue Service to change certain rules, which led to today's 401(k)s. Benna is currently the president of the 401(k) Association and chief operating officer at Malvern Benefits Corp.
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Worker Optimism About Retirement Security Grows: Towers Watson

January 19, 2012
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One factor boosting employees' confidence level is the growth in many employees' 401(k) account balances, according to the study.
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The Rising Price of a Cheap Retirement Plan

January 18, 2012
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For about 20 years, employers could erode the quality of their retirement benefits without paying much of a price. Those days are over. And wise employers are seeing greater retirement security for workers as a goal that helps both employees and the organization.
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Southwest Soars in BrightScope Inc.'s 2011 List of Top 401(k) Plans

January 17, 2012
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Southwest Airlines took the No. 1 spot on BrightScope Inc.'s third annual year-end list of top 30 401(k) plans in 2011. Companies making the list are continuing the trends of improving participation rates, increasing employer matches and lowering total plan costs.
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Will Labor Department's Request Slow Fiduciary Proposal?

January 6, 2012
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In its latest timetable for implementing the Dodd-Frank financial reform law, the commission put fiduciary duty on the list of rules labeled 'dates still to be determined.' Many other rules are designated for release during specific time periods.
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Funded Status of Pension Plans Falls for Second Year: Mercer

January 4, 2012
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In the aggregate, the plans' funding deficit hit $484 billion as of Dec. 31, 2011, up from $315 billion a year earlier and $229 billion as of Dec. 31, 2009.
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Aon Hewitt: 401(k) Participants Keep Moving Away From Equities

January 3, 2012
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401(k) plan participants last November maintained a now six-month trend in moving money to fixed income from equities, according to Aon Hewitt's November 401(k) Index.
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