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Latest Cash balance plan Stories

2011-06-09 15:02:17

A recent U.S. Supreme Court decision could have a great deal of significance for employees and retirees with a private pension plan, a University of Illinois elder law expert says. According to law professor Richard L. Kaplan, an expert on taxation and retirement issues, the high court's ruling in Cigna Corp. v. Amara paves the way for monetary damages when companies misrepresent changes they make to employee pension plans. "The ruling says that when an employer changes its retirement plan,...

2010-01-11 15:16:00

BOSTON, Jan. 11 /PRNewswire/ -- Edward M. Lynch, Jr., AIFA was named as one of the 40 Most Influential Retirement Plan Advisors in the U.S. in a recent poll. Conducted by 401kWire.com, an online news source; the 401kExchange, Inc., an industry innovator and trend analyzer; and the Boston Research Group, a widely respected research organization, the annual survey polled more than 75,000 retirement plan professionals throughout the U.S. Mr. Lynch, the Managing Director of 401(k) Advisors...

2008-10-13 15:00:23

To: BUSINESS EDITORS Contact: Ed Emerman for Watson Wyatt Worldwide, +1-609-275-5162, eemerman@eaglepr.com; or Steve Arnoff of Watson Wyatt Worldwide, +1- 703-258-7634, steven.arnoff@watsonwyatt.com WASHINGTON, Oct. 13 /PRNewswire-FirstCall/ -- The financial crisis starkly highlights the relative pros and cons of defined benefit pensions and 401(k) plans, according to experts at Watson Wyatt, a leading global consulting firm. Broadly speaking, the predictable, mainly guaranteed income...

2008-07-31 03:00:35

By Turner, John A Many of our social and employee benefit policies were designed for an era when people had shorter life expectancy and employers had a large cohort of younger workers to replace those retiring. In light of new demographic trends, this article examines work options for older Americans, provides an overview of benefits policy issues for an aging workforce and lists topics for further benefits policy analysis. The author also identifies policy options to facilitate work at...

2006-04-06 18:19:45

By Susan Cornwell WASHINGTON (Reuters) - U.S. congressional negotiators are considering an option that would give companies struggling to fund pensions more time to do so, House Republican Leader John Boehner said on Thursday. Previously, lawmakers focused on giving just the airline industry special help to pay off its pension obligations over a longer period of time. Boehner said negotiators were trying to map out a broader approach. "This idea of providing what we call a third way...

2005-11-04 18:48:58

By Susan Cornwell WASHINGTON (Reuters) - Workers generally lose retirement benefits when employers switch from traditional pensions to cash balance plans, a congressional study released on Friday said. And the study by the Government Accountability Office (GAO) said that older workers lose more benefits than younger ones when plans are changed. Hundreds of companies switched to cash balance plans in the 1990s, through which workers have an individual account balance based on pay...

2005-09-08 18:55:56

By Susan Cornwell WASHINGTON, Sept 8 - The federal agency that insures private pensions would be able to cut deals with individual companies granting more time to pay pension liabilities under a bill approved by a Senate panel on Thursday. The negotiation provision, part of a pension overhaul bill, is aimed at keeping companies from terminating their pension plans in bankruptcy court as has happened with UAL Corp.'s United Airlines, said an aide to Massachusetts Democrat Sen. Edward...

2005-07-21 13:55:09

By Susan Cornwell WASHINGTON (Reuters) - U.S. Senate legislation to strengthen the private pension system is unlikely to give financially struggling airlines more than 15 years to stretch out their pension payments -- a decade less than they have sought, finance committee aides said on Thursday. Older carriers such as Delta Air Lines Inc. and Northwest Airlines Corp. have asked Congress for 25 years to replenish their pension plans, warning that without such help they will tip into...

2005-06-29 06:02:12

WASHINGTON (Reuters) - House Republicans have agreed on aproposal aimed at eliminating the legal limbo surrounding "cashbalance" pension plans, and will include it in legislationexpected to advance on Wednesday, an aide said. Cash balance plans are a portable type of traditionaldefined benefit pension plans, which have a fixed payout atretirement. Once considered the likely future of traditional pensionplans, cash balance plans have faced legal uncertainty since afederal court ruled in...


Word of the Day
tesla
  • The unit of magnetic flux density in the International System of Units, equal to the magnitude of the magnetic field vector necessary to produce a force of one newton on a charge of one coulomb moving perpendicular to the direction of the magnetic field vector with a velocity of one meter per second. It is equivalent to one weber per square meter.
This word is named for Nikola Tesla, the inventor, engineer, and futurist.