The attacks on public pension plans are constantly changing. Pension critics claim public employees need to be given a choice between defined benefit pension plans and 401(k)-style defined contribution plans. This is an unnecessary and risky choice. Public employees, like …
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In a blog post last week, we discussed the fact that many Americans plan to work in retirement just to make ends meet. As we’ve mentioned before, though, many people won’t be able to continue working in retirement and may …
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On Tuesday, we wrote about a new case study examining the experiences of Palm Beach, FL after the town closed its defined benefit pension plan for police officers, firefighters, and other municipal employees. Palm Beach is certainly not the only …
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Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the …
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Many times on this blog we’ve discussed the shift from defined benefit pensions to 401(k)-style defined contribution plans. While this transition has been most dramatic in the private sector, it is also occurring in the public sector. We’ve detailed how …
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It’s been 40 years since Congress passed the Revenue Act of 1978. Why is this obscure piece of legislation significant? Because the Revenue Act created Section 401(k) of the federal tax code. Over the past 40 years, the 401(k) provision …
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