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Retirement Planning

Plan Sponsors Plot Their ‘De-Risking' of Defined Benefits

January 26, 2012
According to a December 2011 study by Mercer and CFO Research Services, 59 percent of 192 senior-level financial executives surveyed say their defined benefit pension plan poses at least a moderate risk to their companies' short-term financial performance. High plan liabilities coupled with a weak market are causing plan sponsors to explore new strategies for protecting assets.
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The Rise and Fall of Employer-Sponsored Pension Plans

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

January 20, 2012
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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The Rising Price of a Cheap Retirement Plan

January 18, 2012
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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