| | Benefits & Administration | | A Retirement Draw Down Strategy Starts With Education | | As more and more retirement plan participants are depending on defined contribution (DC) plans to save for a comfortable retirement, they not only must make decisions regarding saving and investment strategies, but they must also decide on a withdrawal strategy for retirement. Without a strategy, retirees my want to withdraw as much as possible to support their pre-retirement lifestyle; however, resources may fall short of maintaining this lifestyle, particularly with increased life expectancies. Education about how much income is needed, what expenses to expect and how to create an income stream are important, retirement industry sources say.Read more > | | Verizon Pensioners Still Want to Recoup ERISA Protections | | Back in February 2015, the pension risk transfer by Verizon of the assets of tens of thousands of former Bell Atlantic employees to Prudential grabbed a significant amount of retirement plan industry attention. The main worry of the retirees, as Jack Cohen, Association of BellTel Retirees chairman, told PLANSPONSOR at the time, was that their billions of dollars in income annuities would be less well-protected than they would be if they remained Employee Retirement Income Security Act (ERISA)-covered benefits. In a new conversation with Cohen, he says they are still concerned with trying to recoup at least some of the protections that they had under ERISA and that his association and others warned the Pension Benefit Guaranty Corporation (PBGC) that risk transfers would harm the insurance system.Read more > |
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