Word: pension
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...group of 6,400 home and auto insurance agents, 90 percent of whom were over the age of 40. Allstate then offered them the possibility of getting rehired as “independent contractors,” with slightly higher pay but a significant loss in health and pension benefits. What’s more, the company required the “independent contractors” to waive their right to sue Allstate for, among other things, age discrimination. The message: “If you want to keep your job, don’t try to enforce your rights...
Financial planners recommend that parents avoid dipping into their 401(k)s or pension plans to help their children and instead cut back on short-term optional expenses like entertainment and vacations. Advisers also point out one way the tax code can help: if you continue to pay at least 50% of your child's total living expenses, you can still claim that child as a dependent...
...First to bat is pension plans, with a bill sponsored by Reps. Rob Portman (R-Ohio) and Benjamin Cardin (D-Maryland) set to hit the House floor Thursday. It's no accident that this issue is getting first crack at re-regulation; any issue involving retirees also involves lots of voting seniors. But it's also no cinch that much good will get done...
Employees at Procter & Gamble and Coca-Cola, for example, had 80% or more of their retirement wealth in those stocks before they tanked. Corzine, Kennedy and others want to make sure such wipeouts will not befall others. Democratic Senators are pushing a pension-reform plan that would prevent you from buying your company's stock for your 401(k) if the company also contributes stock. You could buy, or it could contribute, but not both, unless there's a separate, traditional pension offered...
...more sexy for public consumption," says Ram Kumar, senior analyst for Institutional Shareholder Services, who has heard the stump speeches of both sides. "We try to confine ourselves to logic." Kumar's rationale counts more than most. Next week the influential ISS will mail a widely awaited report to pension funds and other big holders of HP stock. Because the family foundations opposing the merger control 19% of HP shares, Fiorina needs around two-thirds of institutional investors on her side...