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It’s no secret that there is a retirement savings crisis in the United States. Financial planners frequently warn that Americans are not saving enough for retirement. Stagnating wages and the gradual disappearance of pensions in the private sector make it…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the top stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Roughly half of private sector workers do not have access to a retirement plan through their employer. For most of these workers, that means they will have little to retire on, except for Social Security. A half-dozen states have taken…
A report released today finds that three-fourths of Americans- both Democrats and Republicans- are concerned about their ability to retire securely. Unfortunately, this lack of retirement preparedness affects some communities more profoundly than others. Black households earn significantly less income…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the top stories about pensions and retirement security from the previous week. This is the news you need to know in the…
What happens when a state abandons its defined benefit pension for a riskier, 401(K)-style plan? Taxpayers lose – According to the National Institute on Retirement Security, “for a given level of retirement income, a typical 401(k) plan costs 91% more…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the top stories about pensions and retirement security from the previous week. This is the news you need to know in the…
Donald Trump has been president for a few weeks now. During the campaign, we speculated on what his presidency might mean for your retirement. Now that he is actually in office, we are beginning to see the signs of his…
President Donald Trump has nominated Andrew Puzder to be Secretary of Labor. Puzder is the CEO of CKE Restaurants, which is the parent company of Hardee’s and Carl’s Jr. Puzder’s confirmation hearing in the Senate has been delayed four times…
It’s still early in 2017 and the fight to protect pensions is just beginning. John Arnold is on the attack against pensions in Nebraska, South Carolina, and Texas. Anti-pension legislators in Michigan are threatening to reintroduce legislation that would gut…
As we’ve written about on this blog, the prevalence of defined benefit pensions has declined in the private sector and this has hurt working families. In the public sector, though, defined benefit pensions remain quite common. According to a recent…
In August, we wrote about the decline of traditional pensions in the private sector. One of the major reasons for private companies abandoning pensions was a series of laws beginning in the 1980s and culminating in the Pension Protection Act…