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Articles by Patty Kujawa

Explaining the Various Retirement Plans

September 5, 2011
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Here's a quick glance at the differences between defined contribution, defined benefit and cash-balance plans.
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Retirement Plans Morphing as Defined Benefits Fade for New Workers

September 5, 2011
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As of May, 30 percent of Fortune 100 companies offered a defined benefit plan to new salaried employees, down from 37 percent at the end of 2010 and 83 percent as recently as 2002. How are employees reacting to this change in their total compensation?
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Mailing Benefits Packets? Feds Weigh the Cost and Risks of Electronic Communication

August 15, 2011
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While electronic disclosure would be more efficient and cost-effective for plan sponsors, the U.S. Labor Department has concerns about some employees missing out on key information.
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Retirement Plan Providers Seek More Time to Distill Labor Department Fee Rules

August 15, 2011
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While the Labor Department just granted extensions on effective dates to disclose detailed fee information, many in the industry are asking for even more time to process possible changes once the federal rules are complete.
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Creativity Becoming a Key With Benefit Plans, Especially for Boomers

July 29, 2011
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According to a Bank of America Workplace Benefits Report , 94 percent of employers say it’s important to keep older employees past their retirement date, mostly because of their institutional knowledge, skill set and ability to train new employees.
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Workers, Employers Fret About Life After Retirement—25 Years Later

July 13, 2011
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Longevity is one of the largest factors retirees need to think about when turning 401(k) lump sums into a stream of monthly retirement payments. As the primary educators for accumulating retirement nest eggs, plan sponsors are going to need to adapt educational awareness to help employees understand the concept of making their retirement funds last. How are employers making this shift—from accumulation growth education to education about making money last?
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Explaining the Labor Department's ERISA Regulations

July 1, 2011
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On June 1, the Labor Department formally proposed to extend the effective date of this interim final regulation, known as Section 408(b)(2) of the 1974 Employee Retirement Income Security Act, to Jan. 1, 2012, from July 16, 2011. It is expected the rule will become final in late summer or early fall.
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Supreme Court Finds Devil's in the Details of Summary Plan Descriptions

June 9, 2011
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HR managers dealing with retirement plan information need to make sure that information in the plan documents and summary plan descriptions are consistent while keeping information as simple as possible.
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Enrollees Continue Banking on DC Plans for Loans and Withdrawals

May 31, 2011
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401(k) plan participants have been pulling out funds more in the past two years than before. What does this mean for plan sponsors, plan participants and the future of retirement savings?
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Older Workers Exercising Plans to Delay Retirement

May 17, 2011
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According to the Employee Benefit Research Institute’s Retirement Confidence Survey, 1 in 5 workers say they aren’t going to retire on time. How are companies preparing for this trend of older workers who don’t leave—or who are applying for jobs?
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