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Retirement

SSA unveils online calculator

10/03/2008

The Social Security Administration (SSA) has unveiled a new online calculator that allows people to estimate their monthly Social Security benefit checks based on their retirement dates. Go to www.socialsecurity/gov.estimator.

Auto enrollment in 401(k) plans becoming the norm

09/25/2008

According to a Deloitte study, 42% of 401(k) plans now include an auto-enroll feature, nearly double the 23% in 2006.

DOL proposal calls for more 401(k) disclosures

09/25/2008

New regulations proposed by the U.S. Department of Labor would require employers with 401(k) plans to disclose more information to employees about plan-related fees and investment performance …

Cop is fired over sex charges, but he’ll still get pension

09/24/2008

The Altoona City Council fired Police Officer Herrick Johnson on Sept. 10 for allegedly having sex with a 16-year-old girl he met online. Johnson, 49, met the girl through a web site that promoted law enforcement careers …

State looks to boost pension fund with hedge fund investments

09/22/2008

The New Jersey Department of the Treasury has received court approval to invest $9 billion of the state’s public employee pension fund in alternative investments, including hedge funds, in an attempt to improve performance in a sluggish market.

DOL proposal calls for more disclosure about employers’ 401(k) fees

09/18/2008

New regulations proposed by the DOL would require fiduciaries of 401(k) plans to disclose more information to employees about plan-related fees and investment performance. The goal: Allow employees to “peek behind the curtain” of the fees they pay for their 401(k)s …

Transfer that call! Let benefits admin field pension queries

08/25/2008
Employees often rely on benefits information to make major life decisions—e.g., setting a retirement date or turning down a job offer—so it’s wise to let your benefits administrator field the questions rather handling them internally. Here’s why: Something as simple as making a mistake while calculating the employee’s years of service can lead to an ERISA lawsuit years later over retirement benefits …

Lower retirement pay doesn’t excuse late discrimination filing

08/22/2008
Employees who believe they have suffered pay discrimination have to move fast to file their claims. They can’t wait, for example, until after they retire and only then claim their retirement benefits are lower than they should be because they were discriminated against …

5 Steps for Communicating Benefits Changes

08/19/2008

As your organization shifts more responsibility to employees to manage their own health and retirement expenses, you risk alienating your work force. But it doesn’t have to be that way …

Home Depot stock case enters another round

08/19/2008
You can’t please everyone, so the saying goes, but the 11th Circuit Court of Appeals in Atlanta came close in its ruling on a class-action suit by Home Depot employees under ERISA. The lawsuit alleges that former CEO Robert Nardelli and other directors, including co-founder Ken Langone, mismanaged the employees’ defined contribution plan  …