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Top related persons:
John James - 1 “ We’ve - 1 ” - 1 Karen Friedman - 1 That’s - 1 — - 1 Craig Copeland - 1 Copeland - 1
Top related locs:
New York
Top related orgs:
Vanguard - 2 Social Security - 2 Security - 2 Fidelity - 1 Institutional Investor Group - 1 Social - 1 Pension Rights Center - 1 New - 1

Search resuls for: "Pension Rights Center"


2 mentions found


☆ Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
  + stars: | 2024-06-26 | by ( Bob Pisani | ) www.cnbc.com   time to read: +7 min
The bad news: account balances for the median 401(k) of a person approaching retirement (65+) remains very low. Higher returns, participation rates, savings ratesWhy do we care so much about 401(k) plans? Thanks to a change in the law several years ago, a record-high 59% of plans offered automatic enrollment in 401(k) plans. By switching to automatic enrollment, participants were automatically enrolled and had to "opt-out" if they did not want to participate. Plans with automatic enrollment had a 94% participation rate, compared with 67% for voluntary enrollment plans.
Persons: John James Organizations: Vanguard, Fidelity, Social Security, Institutional Investor Group, Social, Security, Pension Rights Center
☆ Pension plans are pretty rare. Here's who still has them and how they work
  + stars: | 2023-09-07 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +8 min
But not all unionized workers have equal access to their employer’s DB plan. One sticking point in the UAW negotiations is to restore access to company pension plans that had been closed to anyone hired after the union accepted deep concessions in its 2007 contract. Why employers moved away from traditional pensionsMany employers started making the shift to 401(k) plans and other DC plans in the 1980s. The PBGC protects pension benefits and continues to pay retirees should their employer or its DB plan become insolvent. Retirement readiness at risk for millionsSimply having access to a workplace retirement plan isn’t enough to guarantee a secure retirement.
Persons: “ We’ve, ”, Karen Friedman, That’s, —, Craig Copeland, Copeland, won’t, “, Friedman, nonparticipants, — CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, Big Three, Pension, Center, Bureau of Labor Statistics, DB, UAW, General Motors, Chrysler, Congressional Research Service, Research Institute, ”, federal, Guaranty Corp, Workers, Social Security, Vanguard, Security Locations: New York
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