Many Americans at or near retirement age need to set aside more than $1 million to cover the medical costs they can expect to incur over the rest of their lives, according to new research from a Washington, D.C.-based research institute.
Unions and their pension funds have stepped up their activity as corporation shareholders, angered by CEO compensation and determined to improve corporate governance, the Boston Globe reports.
The Pension Benefit Guaranty Corp., the federal agency that insures workers' pensions, has reported an $11.37 billion loss for last year--the largest in its 28-year history.
Last year, a succession of corporate bankruptcies helped wipe out a $8 billion surplus at the federal agency that insures the pensions of 44 million Americans.
Many companies are facing huge expense increases this year to make up for investment losses in their pension plans, according to a new survey from Deloitte & Touche LLP.
After enduring layoffs, pay cuts, and a slashing of their health benefits, many workers in the beleaguered airline industry now face the prospect of a poorer retirement, according to the Washington Post.
Politicians who received donations from the bankrupt companies of Enron and WorldCom have helped boost two charities aiding former workers of the two firms, the New York Times reports.
The U.S. Department of Labor's Pension and Welfare Benefits Administration has published a request in the Federal Register soliciting information from the public to assist in the development of "safe harbors" for plan administrators to follow regarding automatic rollovers of plan distributions of $5,000 or less.
