8 04, 2015

Pension benefits are part of an employee’s compensation

2015-04-08T00:39:56-07:00April 8th, 2015|Categories: Retirement|Tags: , , |

By William Ghrist Robert Szypulski in his March 24 letter (“Pa. Pension Scam”) seems to have a basic misunderstanding of what a pension is. He refers to pensions for public employees as “unearned” and “public aid.” A pension is not unearned. It is part of a worker’s compensation, just the same as salary and other benefits that are paid at the time of employment. There are two types of pensions: defined benefit pensions, the more traditional type (the type [...]

3 04, 2015

Hospitals investing in Wall Street to shore up finances

2015-04-03T21:24:47-07:00April 3rd, 2015|Categories: Pension Funding|Tags: , , |

With regulation and competition increasing pressure on hospitals, hospital finance execs are turning more than ever to Wall Street to add stability to their balance sheets. The importance chief financial officers are placing on investments represents a major shift in the past 10 years, said Sheila Noonan, managing director and a senior client advisor for JPMorgan Asset Management in Chicago. Noonan said the first question CFOs are asked is whether their investment strategy is aligned with organization objectives. This [...]

12 03, 2015

On a mission to provide retirement security

2015-03-12T17:23:03-07:00March 12th, 2015|Categories: Retirement|Tags: , |

The Seventh-day Adventist Church takes a stand on many knotty social issues. Whether helping Ebola victims or trying to end violence against women, the church expresses its commitment to “spreading God’s love to the whole world.” That devotion extends to the retirement income security of its U.S.-based employees, including pastors, teachers and missionaries. But it turns out that the mission of saving retirees from financial stress has challenges of its own. Like a growing number of private employers throughout the U.S. facing a funding shortfall, the Seventh-day Adventist [...]

25 03, 2014

Helping DB, DC and 403(b) Plans Comply with ERISA

2014-03-25T17:31:37-07:00March 25th, 2014|Categories: 401(k), Defined Benefit Plans|Tags: , , , , , |

Financial and retirement services provider Prudential has released a checklist to help plan sponsors of defined benefit (DB), defined contribution (DC) and 403(b) retirement plans to better comply with the Employee Retirement Income Security Act (ERISA). “We know how important it is for plan sponsors to comply with ERISA and the ever-changing reporting and disclosure requirements mandated by the federal government,” say the authors of Prudential’s Compliance Checklist for 2014. “The checklist incorporates DB, DC and 403(b) requirements and [...]

19 03, 2014

Bad news about American retirement

2014-03-19T21:35:30-07:00March 19th, 2014|Categories: Retirement|Tags: , , |

How much do you have put away for retirement? A million dollars? Five hundred thousand? Five hundred dollars? If you’re like a third of Americans, the final answer is closer to the truth. About 36 percent of workers have less than a thousand dollars in savings and investments that could be used for retirement, not counting their home or defined benefit plans such as traditional pensions (increasingly rare). More than half, 60 percent, have less than $25,000, according to [...]

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