Pension Plan Tweak May Elude Most

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 …

Workers Say Employers Getting Stingy on Pay, Benefits

If the economy’s improving, why do workers say that their employers are getting stingier with pay or benefits, possibly compromising their financial security now and in retirement? In a survey of 5,070 U.S. workers, 76 percent said their company made one change or another in the last two years that weakened their retirement benefits, reduced pay raises, increased out-of-pocket health care costs or premiums, cut back on hours, laid off workers or involved a major restructuring. The survey, conducted by …

Some Lucky Workers Getting More Company Cash in Their 401(k)s

Remember when AOL announced recently that it would pay its 401(k) matching contributions to employees in a lump sum at the end of the year, rather than during each pay period, potentially costing employees’ retirement nest eggs thousands of dollars? If workers left in November, they’d lose out on nearly a year’s worth of company contributions. Those who stayed forfeited any gains made throughout the year. The tech company was forced to reverse its policy after an outcry by employees. (Criticism …

Who’s Feeling Better About Retirement?

Last year’s rising stocks and recovering real estate market appear to have increased workers’ retirement confidence as well. According to an annual survey of 1,000 workers by the Employee Benefit Research Institute, 18 percent say they were very confident they’d be able to retire comfortably. That may not seem like much, but it’s a 5 percentage-point jump from a year earlier. Jack VanDerhei, EBRI’s research director and an author of the study, says the rise in confidence was among those …

Are You a Social Security Double-Dipper? Perhaps Not Much Longer

When and how you claim Social Security benefits has a huge financial impact on your retirement, although many older Americans aren’t aware of all their options and lose out on some serious money, according to a survey released today by Financial Engines. The Sunnyvale, Calif.-based company found that single retirees potentially miss out on $100,000 or more over the course of their retirement, while for married couples the amount is $250,000 or higher. Financial Engines’ findings come from a recent …

4 Myths About Daylight Saving Time

Let’s hope you’ve recovered from Groggy Monday, the day after we turn our clocks ahead an hour (and lose an hour of sleep) for that  convoluted practice called daylight saving time. Even though studies show that this fiddling with our sleep schedule is a bad idea – a higher risk of car accidents from sleepy drivers during the Monday morning commute, workplace injuries because of tired workers, a spike in heart attack risk – we’re still somehow wedded to “springing …