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Retirement

New voluntary retirement savings program proposed

03/28/2014
Sen. Tom Harkin, D–Iowa, has introduced legislation to create a new government-backed private pension system allowing employees to put away up to 6% of pay each year.

Cash-strapped still raiding 401(k)s to pay the bills

03/12/2014
Here’s another sign that, while the economy is generally improving, flush times can still be elusive for individuals. Fully 35% of people who voluntarily or involuntarily left their jobs last year cashed out their retirement savings instead of keeping their money in tax-advantaged accounts.

Tell young workers: You can fund retirement

03/05/2014
Here’s good news to pass along to younger workers in your organization: It is possible to fund a comfortable retirement—if you start contributing to your 401(k) now and commit to doing so throughout your career.

Boomers plan to keep working … and working …

02/24/2014
A new Gallup poll finds that 49% of baby boomers (born from 1946 to 1964) don’t plan to retire until after age 65—if they ever retire at all.

New myRAs seek to spur retirement savings among low-income workers

02/10/2014
In his State of the Union address, President Obama announced that he was directing the Treasury Department to create “myRA”—a government-backed affordable “starter retirement savings account that will help millions of low- and middle-income Americans begin to save for retirement.”

Boomers ‘terrified’ of out-of-control health care costs

01/08/2014
More than three in five (61%) pre-retirees now say they are “terrified” of what health care costs may do to their retirement plans, according to a new Harris poll.

Philadelphia Archdiocese freezes educators’ pension plan

01/03/2014
The Philadelphia Catholic Arch­­diocese has frozen a defined-benefit pension plan for its 8,500 parochial school teachers and support staff. The move comes as the archdiocese wrestles with a $150 million pension deficit.

EBSA sours on Sunkist’s retirement fund accounting

01/03/2014
A U.S. Department of Labor Em­­ployee Benefit Security Admin­­is­­tra­­tion (EBSA) investigation has revealed that Sunkist Growers and its fiduciaries improperly used retirement plan funds to pay salaries and benefits for several employees and managers.

Debt threatens employees’ readiness to retire

11/20/2013
In a recent survey of participants in employer-sponsored defined-contribution retirement plans, more than 60% of households reported that they are accumulating debt faster than they are saving for retirement. The culprit: credit card debt.

Retirement plans growing in post-recession rebound

10/31/2013
Since the Great Recession ended, a higher percentage of employees work for employers that offer retirement plans and a higher percentage of them are participating in the plans, according to a report by the Employee Benefit Research Institute.