24 10, 2016

What Happens When There’s a Mistake in Your 401(k)

2016-10-24T21:40:33-07:00October 24th, 2016|Categories: 401(k)|Tags: |

Are you keeping a close eye on your 401(k) and other retirement plans? You should, because employers and plan managers make mistakes—and that can lead to big headaches and out-of-pocket costs for you. Just ask Benjamin Levy, a retired information-technology professional whose former employer erroneously deposited in his 401(k) a portion of a bonus that he received after he retired. The company overlooked its own plan’s rules prohibiting retirees from making contributions. Meanwhile, Mr. Levy already had rolled that [...]

24 04, 2014

Heinz ‘derisks’ pension plan

2014-04-24T21:08:01-07:00April 24th, 2014|Categories: Defined Benefit Plans|Tags: , , |

Arnold Waldo is boycotting products made by the H.J. Heinz Co. The Carrick resident who is near his 83rd birthday knows that losing his business is probably not going to make or break the Pittsburgh-based food company that reports billions in sales annually. But for him the symbolism is strong. Mr. Waldo started work for Heinz in 1951 and — except for a stint in the military — worked there until his retirement in 1985. He had several aunts who also worked for the [...]

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