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Retirement Planning

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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Thirty Percent of Eligible Employees Take GM Lump-Sum Offer

October 31, 2012
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GM announced on June 1 it would offer 42,000 salaried retirees a lump-sum offer. Another 76,000 salaried retirees, along with those who declined the lump sum, will receive annuity payments from Prudential.
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New Research Shows Retirees Are Bailing on 401(k)s Earlier

October 30, 2012
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The data suggest that more retirees are taking their money and bailing from their plan even sooner after they stop working than used to be the case.
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Kimberly-Clark Offers Lump-Sum Pension Benefits

October 24, 2012
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Participants will have until Nov. 21 to make the election. The lump sum payments will be funded from plan assets and will be made by the end of 2012.
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Employer-Sponsored Health Benefits for Retirees Dying Out

October 24, 2012
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Data from the Employee Benefits Research Institute showed that in 1997, 10.2 percent of private-sector employers provided health insurance to Medicare-eligible retirees and that 11.3 percent provided such coverage to early retirees. As of last year, those numbers fell to 6.1 percent and 6.7 percent respectively.
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401(k) Plan Contribution, Other Retirement Plan Limits Upped for 2013

October 18, 2012
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The maximum contribution that can be made to 401(k) plans will increase next year, as will the maximum benefit that can be funded through defined benefit plans, the Internal Revenue Service announced Oct. 18.
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From Pension to Payout: Employers Are Liking Lump Sums

October 16, 2012
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When defined benefit plan participants take a lump sum, they move out of the plan. That means plan sponsors that cash out participants have a smaller plan with tighter variables—including contribution rates.
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David Wray Interview: Ready for Retirement

October 11, 2012
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As part of our 90th anniversary, Workforce is talking to some of the people and organizations that helped influence today's workplace. In this installment, writer Patty Kujawa speaks with David Wray, the retired president of the Plan Sponsor Council of America, on his thoughts about the evolution of defined contribution plans.
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More Employers Adding Automatic Enrollment to Defined Contribution Plans: Survey

October 4, 2012
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In 2012, 65 percent of employers surveyed by Towers Watson & Co. offered an automatic enrollment feature, up from 57 percent in 2011 and 51 percent in 2010.
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