Ret plans - info for employees (BenefitsLink.com)Headlines re Ret plans - info for employees, gathered by BenefitsLink.comERISA Advisory Council Issues Reports on Benefit Statements, Fiduciary Duties, Financial Literacy- (Found June 24, 2008 ) Excerpt: "In a series of recently released reports, three working groups of the ERISA Advisory Council presented their recommendations on participant benefit statements, fiduciary responsibilities and revenue-sharing practices, and financial literacy of pension plan participants." (Wolters Kluwer)http://hr.cch.com/news/pension/052708.asp Workplace Retirement Resource in Spanish- (Found June 24, 2008 ) Excerpt: "Read a new fact sheet on workplace retirement plans in Spanish from the University of Illinois Extension Service: Inscrbase en su Plan de Jubilacin." (Womens Institute for a Secure Retirement)http://www.wiserwomen.org/portal/index.php?option=com_content&task=view&id=388&... Workers Are Sleepwalking Towards an Impoverished Old Age with DC Plans- (Found June 24, 2008 ) Excerpt: "In their Pensions Institute paper, David Blake, Andrew Cairns and Keith Dowd point out that DC plans are poorly designed. Instead of asking how much employees want to get out of the plan, the focus is on how much they are willing to contribute. 'A well-designed plan will look very much like a defined-benefit plan, offering a promised retirement pension, but without the guarantees implicit in the DB promise,' they argue. One way of achieving this would be for the default fund to...http://www.economist.com/finance/displayStory.cfm?source=hptextfeature&story_id=115293... To Retire Early, You'll Need $1.25 Million- (Found June 24, 2008 ) Excerpt: "The cost of living in retirement depends on variables that range from where and how long you'll live (and how healthy you are) to future inflation and tax rates. But for anybody, retiring at 56 is a very expensive proposition." (NewsDay)http://www.newsday.com/news/columnists/ny-bzbrenner155726415jun15,0,5714446.column Unsteady Economy Prompts 401(k) Strategy Shifts by Participants- (Found June 24, 2008 ) Excerpt: "Some are trimming back their 401(k) contributions as prices for daily staples like food and energy creep higher. Others are boosting savings to better prepare for what could be a costlier retirement. Not all retirement-savings plans have seen the strategy shift. But a number of retirement-plan providers have noticed the change, which follows an uptick in the past year in the amount of money being borrowed against 401(k)s." (The Wall Street Journal)http://online.wsj.com/article/SB121398711873992485.html For a Good Retirement, Find Work, or Keep Your Job- (Found June 24, 2008 ) Excerpt: "Waiting, and working longer . . . is the wiser and more financially responsible choice for most people. A person who retires at 66 will pocket a monthly Social Security check that is one-third higher than if that person retired at 62." (The New York Times; free registration required)http://www.nytimes.com/2008/06/22/weekinreview/22lohr.html?partner=rssuserland&emc=rss... 401(k) Contributions Drop in Troubled Economy- (Found June 24, 2008 ) Excerpt: "While workers continue to put money into their 401(k) plans during the current downturn in the economy, they are investing at a lower rate, a survey released yesterday by Putnam Investments found." (Investment News; free registration required)http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20080619/REG/634641556/1094/INDai... Generating Value from Retirement Plan Data (PDF)- (Found June 24, 2008 ) 8 pages. Excerpt: "This paper outlines the process through which retirement plan data can be used to generate value in helping sponsors to meet their fiduciary obligations by increasing employee engagement and understanding of plan dynamics while reducing sponsor workload. It is about the process through which data is turned into information and information is transformed into knowledge." (Massachusetts Mutual Life Insurance Company)http://wwwrs.massmutual.com/retire/pdffolder/rs3710.pdf Those That Do Save Don't Save Wisely, According to Financial Engines- (Found June 24, 2008 ) Excerpt: "A recent study of 1 million 401(k) accounts by pension investment advisers Financial Engines shows Americans are betraying their futures in two ways: many aren't saving enough, but the majority is doing such a poor job of investing they aren't giving their hard-earned savings a chance to bulk up." (Chicago Tribune)http://www.chicagotribune.com/business/yourmoney/chi-tue-gail-0617-jun17,0,1125840.column Protecting Your Nest Egg from Inflation- (Found June 24, 2008 ) Excerpt: "Wise retirement investors, as well as current retirees, have always taken inflation into account. Especially over the next five to ten years, however, inflation should become an even more significant variable in one's financial planning. The fact is that, by any measure and even at a seemingly modest rate, annual price increases will take a surprisingly large toll out of the purchasing power out of a dollar spent a few years from now." (Employee Benefit News; free...http://ebn.benefitnews.com/asset/article/608391/communicating-with-employees/retirement-be... |