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Retirement

Illinois among states with underfunded pension obligations

02/01/2008

About half the states have underfunded the retirement plans of their public workers, according to a recent study by the Pew Center on the States. The center warns that states on the bottom half of the list may have to choose between honoring their pension obligations and funding other state programs …

Florida a national leader in pension funding

02/01/2008

Florida is a national leader in saving up for its public-employee pension bill, according to a recent study by the Pew Center on the States. Even so, the state faces a $3.6 billion pension-funding shortfall. Most states are in worse shape …

Georgia a national leader in public-Pension funding

02/01/2008

Georgia is a national leader in saving up for its public employee pension bill, according to a recent study by the Pew Center on the States. The state’s pension trust is sufficient to cover 96% of projected pension costs, compared to the national average among states of 82% …

North Carolina gets high marks for pension management

02/01/2008

North Carolina is one of only a handful of states with a fully funded pension, according to a recent study by the Pew Center on the States, although the state’s obligations for retiree health care and other benefits is underfunded by $139 million …

A pension to die for

02/01/2008

Is it a sad sign of the times, or a story as old as time? David Willis, postmaster for the U.S. Postal Service in Cornelius, has been indicted for soliciting someone to murder his ex-wife so he wouldn’t have to share his pension benefits with her …

Indiana pension funding lags behind national average

02/01/2008

About half the states—including Indiana—have underfunded their retirement plans for public workers, according to Promises with a Price, a recent study by the Pew Center on the States. Indiana’s funding has been uneven in the past and stands at 64% …

New Jersey makes short list of pension skimpers

02/01/2008

New Jersey is among seven states that have consistently underfunded the retirement plans of their public workers, according to a recent study by the Pew Center on the States. The center predicted that states on the bottom half of the list would have to choose between pension obligations and other public programs, as New Jersey has done …

Feds propose new rules that would require more disclosure about 401(k) fees

01/03/2008

The U.S. Department of Labor has proposed new regulations that would require 401(k) administrators to reveal their fees—but not to employees.

EEOC rule allows coordination of retiree health benefits with Medicare

01/03/2008

The EEOC has issued a final rule allowing the long-standing employer practice of coordinating retiree health benefits with Medicare without violating the age discrimination law. The new reg ends a seven-year battle to ensure  "bridge" coverage for younger retirees.

Retiring instead of facing discipline doesn’t constitute constructive discharge

01/01/2008

Employees who retire to avoid facing internal disciplinary charges can’t turn around and claim they were constructively discharged. That’s why employers might want to consider offering retirement in such cases as an option in lieu of discipline …