Stacks of coins.

3 Things That Undermine Social Security Benefits

Via US News Money By Rebecca Lake Social Security is an important part of the retirement picture for millions of Americans, both young and old. According to a recent Gallup poll, 25 percent of Americans ages 18 to 29 and 43 percent of those ages 50 to 64 expect Social Security to be a major source of retirement income. Read the full article Continue reading 3 Things That Undermine Social Security Benefits

Lexington Could Owe Police, Fire Pension Funds Millions More

Via usnews.com LEXINGTON, Ky. (AP) — Kentucky‘s second-largest city could have to pay millions more to its police and fire pension fund. The Lexington Herald-Leader reports the Kentucky Supreme Court declined to hear an appeal from the city this week. That means a state Court of Appeals decision ordering the case back to the circuit court will stand. Fayette Circuit Judge Ernesto Scorsone must decide … Continue reading Lexington Could Owe Police, Fire Pension Funds Millions More

What’s Your Retirement Personality Type?

Via U.S. News By Dave Hughes Retirement is not one-size-fits-all. There are many ways to envision how you’ll spend your retirement. Identifying your retirement personality type can help you gain clarity about what you want your retirement to be like on a day-to-day basis. You might see yourself in more than one of these categories, and the categories you fit into may change as your retirement … Continue reading What’s Your Retirement Personality Type?

Man writing on papers with a pen.

Michigan Governor Signs a Teacher Pension Plan that creates a new 401(k)-style defined contribution plan with an automatic employer contribution of 4% of the employee’s salary.

via plansponsor.com, by Rebecca Moore, PlanSponsor July 27, 2017 The signed bill modernizes the Michigan Public School Employees Retirement System (MSPERS), and increases the state’s share to defined contribution plans, while reducing the unfunded liabilities of the overall system. Read the full article. Continue reading Michigan Governor Signs a Teacher Pension Plan that creates a new 401(k)-style defined contribution plan with an automatic employer contribution of 4% of the employee’s salary.

Pension Benefit Guaranty sues Fay Construction over terminated pension plan

via PennRecord by Louie Torres, PennRecord July 19, 2017 PHILADELPHIA — A government corporation dealing with terminated pension plans is suing Fay Construction Co. Inc., as plan administrator for the Fay Construction Co. Inc. pension plan, alleging breach of contract. The Pension Benefit Guaranty Corporation, a government entity located in Washington, D.C., filed a complaint on June 16 in U.S. District Court for the Eastern … Continue reading Pension Benefit Guaranty sues Fay Construction over terminated pension plan

Snyder Signs Michigan Teacher Retirement Reforms

via detroitnews.com by Jonathan Oosting, Detroit News Lansing Bureau July 13, 2017 Republican Gov. Rick Snyder on Thursday signed into law controversial legislation to overhaul Michigan’s teacher retirement system and steer new hires into 401(k)-style savings accounts rather than hybrid pensions. The plan faced opposition from public education groups but was a top priority for GOP legislators who say it could help the state avoid adding to … Continue reading Snyder Signs Michigan Teacher Retirement Reforms

All City Elevator Inc. Accused of Breach of Contract

via pennrecord.com by Louie Torres, PennRecord July 10, 2017 A labor group is suing All City Elevator Inc. and Jason Damron, citing alleged breach of contract. Trustees of the National Elevator Industry Pension, Elevator Industry Work Preservation Funds, Elevator Constructors Annuity and 401(K) Retirement Plan filed a complaint on June 21 in the U.S. District Court for the Eastern District of Pennsylvania, alleging that the … Continue reading All City Elevator Inc. Accused of Breach of Contract