Understanding the effects of age, gender, and ethnicity on financial wellness can help employers offer solutions that better meet their employees’ financial needs, write Surya Kolluri, Kai Walker, and Anna Potts at the RetireSecure blog.…Read More
Retirement plans that integrate financial asset management, deferred annuities, and reverse mortgages can provide more spendable funds over a retiree’s lifespan, according to Jack Guttentag on the RetireSecure blog.…Read More
If pension funds are to incorporate ESG principles in their investment decisions, they must consider several risks and challenges. Wharton Prof. Olivia S. Mitchell and Shankar Parameshwaran provide takeaways from the PRC 2021 Symposium.…Read More
Many multiemployer pensions were already severely underfunded; the just-passed budget bill reduces penalties for employers withdrawing from those plans. Aharon Friedman believes potential consequences will be dire. Via the RetireSecure blog.…Read More
Administration’s proposed 2021 budget identifies $92B+ in savings by 2030, including retirement benefit cuts for federal workers. Changes may prompt employees to defer retirement, explains Prof. Olivia S. Mitchell of Wharton to InvestmentNews.…Read More
Wharton Professors Olivia S. Mitchell and Marshall Meyer put GE’s pension freeze/buyout in context and discuss potential fallouts: @WhartonKnows journal & podcast here. Image courtesy of Jeff Turner on Flickr.
Only 16% of the Fortune 500 still offer defined benefit plans, vs 60% 30 years ago, says Wharton’s Olivia S. Mitchell, discussing the announcement that GE will freeze pension accruals for 20K employees & offering lump sums to 100K more. Read here.http://bit.ly/2MlBmbk Image courtesy of Chuck Miller.
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 of…Read More
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 in…Read More
Multiemployer pension plans in the United States are in dire financial straits. It’s estimated that the retirement plans of workers and retirees covered by these plans in the mining, retail trade, construction, transportation and other such sectors face a $54 billion shortfall today.…Read More
