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401(k) Lawsuits: What Are the Causes and Consequences?
Headline: 401(k) Lawsuits: What Are the Causes and Consequences?
Publication: Center for Retirement Research at Boston College
Article Date: May 1, 2018
Lawsuits against 401(k) plans have been on the rise in the past two years, according to a report, “401(k) Lawsuits: What Are the Causes and Consequences,” issued by the Center for Retirement Research at Boston College. In 2016 and 2017, there were 107 lawsuits filed, the highest since 2008 and 2009, when 169 lawsuits were filed. Read article…
California Pension Overhaul Bills Killed
Headline: California Pension Overhaul Bills Killed
Publication: Chief Investment Officer
Article Date: Apr 27, 2018
“A California state Senate committee has rejected a trio of pension overhaul bills that were intended to stem rising pension costs for the state. The bills that were rejected include a bill that would have barred pension funds that are less than 80% funded from providing cost-of-living adjustments; one that would have allowed local governments to leave CalPERS without paying large termination fees; and a third that would have allowed new state workers to opt for a 401(k) plan instead of a defined benefit pension.” Read article…
California’s most powerful voice on Wall Street? Its pensions
Headline: California’s most powerful voice on Wall Street? Its pensions
Publication: LA Times
Article Date: May 6, 2018
“The fight over public pensions in California is almost exclusively described as a dispute between people worried about tax hikes and public servants wanting to get paid what they were promised. But this is only part of the pension story — one focused on the “liability” side of the balance sheet. What’s missing is the “asset” side of that balance sheet.” Read article…
For Workers Without Retirement Savings, State-Run I.R.A.s Can Pay Off
Headline: For Workers Without Retirement Savings, State-Run I.R.A.s Can Pay Off
Publication: New York Times
Article Date: Apr 20, 2018
“A new breed of state-based savings accounts can help workers prepare for retirement, in part by allowing them to push back the time when they file for Social Security payments, a new analysis suggests.” Read article…
Public Servants Are Losing Their Foothold in the Middle Class
Headline: Public Servants Are Losing Their Foothold in the Middle Class
Publication: New York Times
Article Date: Apr 22, 2018
In recent years, the ranks of state and local public employees has dwindled, even as the populations they serve have grown. And those who remain are finding themselves financially downgraded. “Whether one views a diminished public sector as vital to economic growth or a threat to health and safety, it is undeniable that it has led to a significant decline in middle-class employment opportunities.” Read article…