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Retirement

Trenton power broker convicted of bribery and pension fraud

12/24/2008

Former state Sen. Wayne Bryant, once one of New Jersey’s most powerful politicians, was convicted of bribery and pension fraud for taking state jobs for which he did no work and steering state business to cronies in return.

Congress OKs pension-plan funding relief bill

12/24/2008

Employer retirement plans suffered huge losses in 2008, and employers would face even more burdens if they had to comply with new, stricter funding rules passed under the Pension Protection Act of 2006. For that reason, Congress last month voted to ease those rules …

10 ways Generation Y will change the workplace

12/08/2008

There’s no doubt Generation Y will fundamentally change corporate America. It’s already started. Managing Gen Y is a hot topic among consultants, HR executives and talent management professionals. For a Gen Y’er like me, this is great news. We’re primed to change the workplace for the better. Here’s how we’ll do it.

By The Numbers: Top executive pay down 4%

12/08/2008

A cynic might say a 4% average earnings decline isn’t enough, but at least the highest-paid executives in America’s publicly traded corporations are feeling some of the pain of the financial meltdown.

When in doubt, add a stamp

12/08/2008

When Medical Mutual Insurance of Ohio learned that 11 computer disks mailed to state retirement groups in Columbus had not arrived, the insurer contacted the U.S. Postal Service. There was reason for concern: The disks contained personal information on 36,000 Ohio retirees …

A few bright spots in an otherwise bleak economy

12/04/2008

One piece of reassuring economic news for North Carolina state workers: The pension kitty is fully funded and continues to outperform other government pension funds, despite a bleak economic year.

Retirees who take lump sum still have standing to sue

11/25/2008

Don’t think that employees who take their retirement benefits in a lump sum can’t sue for alleged fiduciary breaches. A recent federal appeals court decision says although retirees are not technically employees anymore, they still have standing to sue …

State considers lawsuit over Lehman pension losses

11/25/2008

New Jersey investment director William Clark said the state pension board is considering a lawsuit against Lehman Brothers. The state bought approximately $180 million of Lehman stock in June, only to sell it at a loss of about $100 million …

AG recommends no pension for convicted prisons director

11/12/2008

Donald Snyder, former director of the Illinois Department of Corrections (IDOC), forfeited his right to pension benefits when he was convicted of engaging in “a scheme to defraud the people of the state of Illinois,” Attorney General Lisa Madigan said.

Laser Saver owner pleads guilty to stealing 401(k) contributions

11/10/2008

Gregory Lockhart, owner of Laser Saver Inc., a printer cartridge remanufacturer in Columbus, has pleaded guilty to willful failure to file financial reports for the company’s 401(k) plan with the U.S. Department of Labor.