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So far CORPaTH has created 1032 blog entries.
20 09, 2019

Paris hit with biggest transport strike in decades over pensions

2019-09-20T16:42:05-08:00September 20th, 2019|Categories: Defined Benefit Plans|Tags: , |

The biggest strike to hit Paris public transport since 2007 created major traffic jams Friday, disrupting tourists’ plans and forcing commuters to work from home or find alternative ways to reach the office. French unions were protesting plans for sweeping pension changes by President Emmanuel Macron’s government that aim to create a universal pension system, instead of having different pension rules for different jobs. Critics say that will do away with some transport workers’ right to retire early. The [...]

20 09, 2019

Half of UK residents are confident they can retire comfortably

2019-09-20T16:38:39-08:00September 20th, 2019|Categories: Retirement|Tags: , |

Half (52%) of UK individuals are confident about their ability to retire comfortably, compared to 48% who agreed with this in 2017, according to research by Aegon. The Retirement confidence survey, which polled 830 UK residents, further found that 10% of individuals do not have any pension savings, while 36% have never estimated their income needs for retirement; this compares to 43% who had not done this in 2017. In addition, 25% of those respondents who do have pension savings [...]

6 09, 2019

U.K. to seek feedback on retail price index used in calculating pension benefits

2019-09-06T14:20:35-08:00September 6th, 2019|Categories: Pension Funding|Tags: , , |

The U.K. government is planning a consultation in January on the future of the retail price index, a metric that defined benefit plans use to calculate pension benefits. Sajid Javid, the U.K.'s chancellor of the exchequer, as the country's finance minister is known, said Wednesday that because no index change can occur without a change in U.K. law and because of the government's current focus on delivering a Brexit plan, the government will not be in position to eliminate [...]

21 08, 2019

NIRS: No money saved for 4 states that shifted to DC from DB plans

2019-08-21T08:17:37-08:00August 21st, 2019|Categories: 401(k), Defined Benefit Plans|Tags: , |

Four states that shifted to defined contribution from defined benefit plans did not save money, said new and updated case studies from the National Institute on Retirement Security. NIRS researchers updated prior case studies on Alaska, Michigan and West Virginia and created a new study on Kentucky. All of the states have switched new employees to defined contribution-only accounts to deal with pension underfunding and rising costs. According to an NIRS report on the studies, the changes increased overall [...]

12 08, 2019

New postal workers would no longer earn a pension under preliminary business plan

2019-08-12T08:44:46-08:00August 12th, 2019|Categories: Defined Benefit Plans|Tags: |

The U.S. Postal Service, facing pressure from Congress to propose initiatives to ensure the agency’s long-term viability, is floating a business plan that would include significant cuts to employees’ take-home pay and benefits. USPS included a hike to the employee contribution level for pensions in a first draft of a 10-year business plan presented to lawmakers and stakeholders, according to multiple people who were briefed on it, as well as phasing out pensions altogether for new hires in favor of [...]

2 08, 2019

Half of California workers have no retirement savings, says UC Berkeley report

2019-08-02T16:17:32-08:00August 2nd, 2019|Categories: Retirement|Tags: , |

Many Californians may sink into downward mobility in their golden years because of a lack of retirement savings, says a new report by Berkeley’s Center for Labor Research and Education. About half of California private sector employees ages 25 to 64 don’t have dedicated retirement savings, according to a new report by Nari Rhee, director of the Retirement Security Program at the University of California, Berkeley’s Center for Labor Research and Education. The report provides a rare look at [...]

24 07, 2019

What Congress Could Do To Stop a Pension Crisis

2019-07-24T15:20:25-08:00July 24th, 2019|Categories: Defined Benefit Plans|Tags: , |

A looming retirement crisis is facing the U.S. taxpayer that will become an economic tsunami if Congress doesn’t act. The pensions of 1.3 million workers in certain multiemployer pension plans and the federal government’s Pension Benefit Guaranty Corporation (PBGC) are set to collapse. Only Congress can prevent this from cascading throughout the economy, to taxpayers and into healthy pension plans and their employers. How things spiraled into this crisis is complicated, but important to understand. Some say it’s a multiemployer problem, [...]

24 07, 2019

Senate reintroduces multiemployer pension reform bill

2019-07-24T15:18:09-08:00July 24th, 2019|Categories: Multiemployer Plans|Tags: , |

A multiemployer pension reform package that would create a federal loan program for struggling plans was reintroduced Wednesday in the Senate, as the House prepared to vote on similar legislation. The 27 Senate sponsors include former members of a now-disbanded bipartisan House and Senate Joint Select Committee on multiemployer pensions Sherrod Brown, D-Ohio, Tina Smith, D-Minn., Joe Manchin, D-W. Va., and Senate Minority Leader Charles Schumer, D-N.Y. Approval of similar legislation in the Democratically controlled House, known as the [...]

11 07, 2019

Multiemployer Pension Fix Continues to Work its Way Through the House

2019-07-11T12:17:17-08:00July 11th, 2019|Categories: Multiemployer Plans|Tags: |

The so-called Butch Lewis Act to address funding problems facing multiemployer pension plans continues to work its way through the legislative labyrinth, with a second House committee approving the legislation in recent weeks. In what at times was a hotly debated markup session, on July 10 the House Ways & Means Committee approved by a party-line vote an amended version of the Rehabilitation for Multiemployer Pensions Act of 2019 (H.R. 397). The House Education & Labor Committee approved a [...]

1 07, 2019

3 Hard to Believe — but 100% True — Facts About Social Security

2019-07-01T16:21:44-08:00July 1st, 2019|Categories: Retirement|Tags: |

According to Democratic presidential candidate Bernie Sanders, "Social Security is the most successful government program in our nation's history." No matter your political preference, there's no denying Sanders' statement. Since payouts began in 1940, Social Security has been providing a financial foundation for tens of millions of Americans, many of whom are retired workers. As of today, according to an analysis from the Center on Budget Policy and Priorities, it's a program that singlehandedly keeps more than 22 million [...]

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