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 …
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Maryland Governor Larry Hogan recently proposed creating a 401(k)-style defined contribution plan for state employees. Future state employees would have the option of participating in this plan instead of the traditional defined benefit pension plan. Current state employees would not …
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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 …
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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 …
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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 …
Read more
In an article published by the Wall Street Journal this week, the creators of the 401(k) reflected on the consequences of the product they promoted. The takeaway: many of the early advocates of 401(k)s now regret the “revolution” they helped …
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