Department of Labor

Is Your Employer Shortchanging Your 401k?

Posted on 03/6/2014 by |Money and Work | Comments

Bulletin Today | WorkIf you’re fortunate enough to get a company match in your 401(k) savings plan, you might be feeling lucky. Unless you’re in a plan that’s being shortchanged by your employer. According to a report from the Department of Labor, nearly 73 percent (or 2,677) of the plans it audited last year made the wrong employer match or made some other error. The upshot? A whopping $423.6 million was restored to workers’ 401(k)s last year. Among the more common mistakes: failing to account …

How Much Income Will Your 401(k) Provide?

Posted on 05/13/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsYou may be throwing money into your employer-sponsored retirement plan — let’s hope you are — but do you know how much estimated monthly income your plan will provide over your lifetime? Employers are required by law to provide an outline of what workers can expect to get in estimated monthly retirement income from their traditional pension plans. But that’s not the case for 401(k) and 403(b) plans. [Find out if you're saving enough for retirement with AARP's calculator]. Maybe …

AARP News This Morning – November 12

Posted on 11/12/2009 by |Archived Contributor | Comments

WorkA release from the Employee Benefits Research Institute today reports that paid sick leave was available to approximately two-thirds of Americans in March 2009. Specifically, 77 percent of full-time workers had access to paid sick leave, compared with 28 percent of part-time workers, and 90 percent of state and local government employees had access to paid sick leave. According to the Department of Labor’s Web site, “Generally, federal labor laws do not require employers to provide sick leave or pay …