Public pensions
Article Abstract:
Congressional pensions may be reduced under the Social Security reform package proposed by Sens. Bob Kerrey and Allan Simpson. Under current legislation, public sector employees making $45,000 annually and who retire after 20 years will collect 33% of their income in pension benefits while their counterparts in the private sector, receiving the same income, will collect only 21% of their income after 20 years. In the case of senators, they can collect about 75% of their income after 30 years, while private sector employees receiving equivalent wages will receive only about 45%.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Recent events offer common sense guidance
Article Abstract:
Employers should realize that Section 404(c) does not guarantee protection from liabilities in participant-directed retirement plans. They can avoid liabilities by fulfilling their fiduciary responsibilities through the adoption of sound investment policies. Investment education also helps participants to develop a more realistic view of investments to prevent them from blaming employers for disappointing returns.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Court limits recovery of nonguaranteed benefits
Article Abstract:
The US Court of Appeals for the 6th Circuit has limited the right of recovery for nonguaranteed pension benefits against plan sponsors. The case involved United Steelworkers of America versus United Engineering Inc. The court held that ERISA preempts the federal common law action covered by Section 301 of the Labor Management Relations Act of 1947.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Pensions. New benefit developments in Mexico. Investment of plan assets - amendments to Swiss federal law and practice
- Abstracts: Pension manager or loan officer? 401(k) communication that works. Why Monsanto prefers active and NYNEX likes indexing
- Abstracts: Qualified domestic relations orders: a plan administrator's operational perspective. Proposal for a model employee benefit program: responding to the changing trends of society
- Abstracts: Employment contracts offer a variety of benefits - when done right. Siemens Rolm models reengineering done right: on track to a comeback
- Abstracts: Privacy: entitlement or illusion? Under fire at the LAPD. The key to your career growth may be a job change