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Aug 14, 2008
New Report Says Pensions Can Provide Retirement Income at about Half the Cost of Individual Accounts
A new report issued today finds that a defined benefit pension plan can deliver the same level of retirement income to a group of employees at 46% lower cost than an individual defined contribution account due to built-in economic efficiencies.
p>Aug 14, 2008
New Report Says Pensions Can Provide Retirement Income at about Half the Cost of Individual Accounts
A new report issued today finds that a defined benefit pension plan can deliver the same level of retirement income to a group of employees at 46% lower cost than an individual defined contribution account due to built-in economic efficiencies.
Aug 6, 2008
US Treasury ruling aims to block pension transfers
The U.S. Treasury on Wednesday ruled that employers cannot transfer most pension plans to an unrelated entity without an accompanying transfer of significant business assets, operations or employees. The ruling aims to prevent transfers of tax-qualified pension plans to unrelated firms that only operate the plans. However, the Bush administration also unveiled principles that it said could guide the development of new legislation that could permit pension plan transfers in some cases.
Aug 5, 2008
Now Wall Street Wants Your Pension, Too
The folks who brought you the mortgage mess and the ensuing hedge fund blowups, busted buyouts, and credit market gridlock have another bold idea: buying up and running troubled corporate pension plans. Critics worry that financial firms don't have workers' best interest at heart, which would put some 44 million current and future retirees at risk.
Aug 4, 2008
Companies Tap Pension Plans To Fund Executive Benefits
At a time when scores of companies are freezing pensions for their workers, some are quietly converting their pension plans into resources to finance their executives' retirement benefits and pay. In recent years, companies from Intel Corp. to CenturyTel Inc. collectively have moved hundreds of millions of dollars of obligations for executive benefits into rank-and-file pension plans. This lets companies capture tax breaks intended for pensions of regular workers and use them to pay for executives' supplemental benefits and compensation.
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