The Good Old Days: Was the Pension Era Really as Good as Its Reputation?

Defined benefit pensions often paid lifetime income streams, but many workers were not included; some companies also underfunded the plans. Defined contribution plans plus Social Security offer more Americans retirement security, explains Wharton Prof. Olivia S. Mitchell, via PlanAdvisor. Read More

GE Freezes Pensions for 20K Workers In Bid To Trim Debt Pile

GE plans to freeze defined benefit accruals of 20K workers and offer lump sum buyouts to 100K former employees, seeking to cut debt. This aligns GE with most larger US companies today as defined benefit pension plans grow rare, says Wharton’s Olivia S. Mitchell here.     Image courtesy ofRead More

GE Will Freeze 20,000 Worker Pensions In Effort To Cut Deficit By $8 Billion

GE is freezing defined benefit plans for 20K workers and offering 100K former workers lump-sum buyouts, as it seeks to cut debt and risk. This is part of a decades-long trend away from defined benefit pension and toward defined contribution plans in the US, states Wharton’s Olivia S. Mitchell inRead More