18 11, 2019

Is retirement dying? The old work model is disappearing for boomers, Gen Xers

2019-11-18T11:35:19-08:00November 18th, 2019|Categories: Retirement|Tags: , |

More Americans are opting to work well into retirement, a growing trend that threatens to upend the old workforce model. One in three Americans who are at least 40 have or plan to have a job in retirement to prepare for a longer life, according to a survey conducted by Harris Poll for TD Ameritrade. Even more surprising is that more than half of “unretirees” – those who plan to work in retirement or went back to work after retiring – said [...]

18 11, 2019

Two rival experts agree — 401(k) plans haven’t helped you save enough for retirement

2019-11-18T11:28:35-08:00November 18th, 2019|Categories: 401(k)|Tags: , |

Retirement experts have debated for years over the consequences of America’s shift from traditional pensions to 401(k)s and other so-called defined contribution plans. Among the issues at hand: Do the new-style plans leave too many workers behind? Do they saddle employees with too much risk? Do they increase economic inequality? It’s fascinating, then, to see that two experts who commonly come at these questions from opposite sides of the political divide have collaborated on an important new analysis of [...]

11 11, 2019

Poland Approves Plans to Overhaul Pension System

2019-11-11T13:07:26-08:00November 11th, 2019|Categories: Pension Funding|Tags: |

Poland is moving its state-guaranteed private pension benefits to IRA-like accounts. The shift is designed to trim the Polish government’s liabilities and save $5 billion thanks to reduced retirement outlays. The government-backed private system, called OFE, is valued at about $43 billion. Private pension funds are owned and run by firms like MetLife, NN Group, and Aviva. The government is transferring assets to fill a budget gap and minimize uncertainty. Poles’ private pension money will be moved to the [...]

11 11, 2019

What it would mean for pensioners if Kenney creates an Alberta pension plan

2019-11-11T13:05:17-08:00November 11th, 2019|Categories: Pension Funding|Tags: , |

Naturally, some questions arise whenever anyone floats the possibility of transferring billions of public dollars from one fund manager to another. Speaking Saturday during a keynote address to close the Manning Conference in Red Deer, Alberta, Premier Jason Kenney laid out measures that will be explored as part of what's being called the Fair Deal Panel. He announced initiatives that include creating a provincial police force, establishing a formal provincial constitution and opting out of federal cost-sharing programs. The [...]

8 11, 2019

Latest Senate attempt to move on SECURE Act fails

2019-11-08T08:23:56-08:00November 8th, 2019|Categories: Retirement|Tags: |

Requests to consider the SECURE Act via unanimous consent were rejected Thursday, as the sweeping retirement package remains in state of limbo. Sen. Pat Toomey, R-Pa., took to the Senate floor and proposed the body consider the Setting Every Community up for Retirement Enhancement Act of 2019, which the House overwhelming approved in May, along with five amendments apiece from Republicans and Democrats. He also proposed setting a 10-hour debate limit on the bill and 30 minutes of debate [...]

6 11, 2019

Corporate America Pushes for SECURE Act Passage

2019-11-06T16:09:01-08:00November 6th, 2019|Categories: Retirement|Tags: |

A group of more than 90 CEOs and senior executives from leading American corporations and business groups has issued a public letter calling on the U.S. Senate to pass the Setting Every Community Up for Retirement Enhancement Act, commonly referred to as the SECURE Act. The plea, addressed both to Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer, comes some six months after the U.S. House passed its version of the SECURE Act with a nearly [...]

1 11, 2019

Letter from Fiona Reynolds, PRI

2019-11-01T09:39:33-07:00November 1st, 2019|Categories: Socially Responsible Investment|Tags: , |

Dear US Signatories, Since its inception, the Principles for Responsible Investment (PRI) has prioritized a market-led evolution toward long-term responsible investment. PRI remains committed to active, ongoing engagement with signatories regarding significant matters affecting financial markets including environmental, social and governance (ESG) issues. Today the evidence of the urgent need to address sustainability issues, such as climate change, is incontrovertible—we no longer have the luxury of waiting for all market participants to accept their responsibility to contribute to a [...]

29 10, 2019

PRI asks signatories to join in effort to prod U.S. to act on responsible investment

2019-10-29T08:35:45-07:00October 29th, 2019|Categories: Socially Responsible Investment|Tags: |

The United Nations-backed Principles for Responsible Investment organization will be engaging with U.S. policymakers to help them catch up on sustainable financial policy reforms, and it is encouraging its signatories to do the same. Other countries are "acting with growing urgency to adopt measures that integrate responsible investment," but the U.S. "remains a glaring outlier" when it comes to a global policy consensus on sustainable finance, CEO Fiona Reynolds said in an Oct. 17 letter to PRI's 510 U.S. [...]

23 10, 2019

Brazil’s Bolsonaro heralds ‘great day’ as Senate approves pension reform

2019-10-23T14:11:54-07:00October 23rd, 2019|Categories: Pension Reform|Tags: , |

Brazil's President Jair Bolsonaro on Tuesday hailed the Senate's approval of a sweeping overhaul of the nation's pension system as a launch pad for the wider economy, although voting on the last few remaining amendments was delayed to the following day. Pension reform is seen by the government and many economists as crucial to stabilizing Brazil's public finances and restoring business confidence, conditions they say will lead to stronger and more sustainable growth in Latin America's largest economy. The [...]

22 10, 2019

FedEx Marches to Its Own Beat on Pension De-risking

2019-10-22T10:33:27-07:00October 22nd, 2019|Categories: Defined Benefit Plans|Tags: |

Many big companies are looking to de-risk their pension plans by offering lump-sum payouts or cutting deals with insurance companies. Some, however, are taking a different route. FedEx, for example, recently announced plans to contribute $1 billion to its U.S. pension plans before the end of its fiscal year ending May 29, 2020. That’s $300 million more than its expected minimum required contribution. It’s not a brand-new strategy: the company has annually been contributing at least $1 billion to the [...]

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