More bad news is surfacing on the 401(k) front, with benefits consultant Watson Wyatt reporting that a growing number of employers are cutting back on their matching contributions to 401(k) accounts. A Watson Wyatt survey finds that five percent of companies already have reduced their contributions this year, and another 7 percent expect to make [...] [read full article…]
The Purpose Prize award is given annually by the Encore Careers campaign to recognize trailblazers who have demonstrated creative and effective work tackling social problems. The 2008 winners were announced earlier this month, and the campaign has posted some great video features on each of the winners. If you’re looking for inspiration on your own [...] [read full article…]
The decision by a major insurance company to spin off most of its long-term care policies earlier this month sends a clear warning to consumers of the importance of that old rule: Buyer beware. Conseco Inc. struck a deal with Pennsylvania regulators to transfer 140,000 long-term care policies into an independent trust. The new non-profit [...] [read full article…]
Could old-fashioned pension plans make a comeback? Traditional defined benefit pensions have been in retreat for several decades, as employers shifted to 401(k) plans and other defined contribution programs. Employers liked it because so-called DC plans shift the risk of market performance from employer to employee. Politicians liked it because it fit with the free [...] [read full article…]
