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The federal agency that insures private pensions is proposing a rule change that would add greater protection for workers who roll 401(k) money into a traditional pension. Workers for years have been able to transfer money from their employer’s 401(k) to its traditional pension plan to buy themselves a bigger lifetime benefit – if the employer allowed it. The Pension Benefit Guaranty Corporation says its new proposal will remove fear among these workers that the amount they roll over from …
In many places you can get a state government pension without even working for the state government. The Associated Press reports that lobbyists in at least 20 states are entitled to public pensions because they represent associations of counties, cities and school boards. In many cases, they also get state health care benefits. Take Stephen Acquario, the executive director of the New York State Association of Counties. He makes $204,000 a year ($25,000 more than the governor) and has perks, …
The National Conference on Public Employee Retirement Systems this week proposed letting companies that lack their own employee pension plans buy into public retirement funds via the Secure Choice Pension … A new survey conducted by WebMD and the nonprofit Sanford Health found parents would rather discuss the birds and the bees with their kids than weight … And broadcaster Pat Robertson tells viewers it’s okay to divorce a spouse with Alzheimer’s disease.