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Retirement

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.

401(k) fees higher for employees at small firms

10/10/2013
Over the course of a 35-year career, an employee of a small company will pay $100,000 more in 401(k) administration fees than someone who works for a large firm.

IRS extends tax-free benefits to all same-sex married couples

09/10/2013
New IRS guidance affirms: Same-sex married employees are entitled to all federal spousal tax benefits, even if they live in a state that doesn’t recognize same-sex marriage.

Retirement plans defined: A lexicon of benefits options

08/07/2013
Regardless of the kind of retirement plan your company offers, it pays to know what all your company’s options are. Here are definitions of five basic kinds of retirement plans.