Most people categorize pensions in the same bucket as eight-track tape players, rotary phones, oversized shoulder pads and cathode-ray tube TVs — out of date. But, pensions just might become the latest retro craze — especially those you can create for yourself! NOTE: If you are lucky enough to have a pension, the NewRetirement Planner…
Episode 40 of the NewRetirement podcast is an interview with Kevin Hanney about the evolution of pensions and the future of employer sponsored retirement & lifetime income solutions. Kevin is the Senior Director of Pension Investments at Raytheon Technologies (formed by the merger of United Technologies and Raytheon) where he helps oversee about $100B retirement…
A very common question from pension recipients is: “Our employer gives us a choice of either a pension or a lump sum when we retire. What is the better choice for me?” This decision depends on a lot of factors. Choosing the Pension Option How is the Pension Being Funded? The pension may be an…
While pensions are not nearly as common as they once were, they are a very important part of the retirement plans for many of society’s most valued workers: teachers, police officers, fire fighters and more! However, it is surprisingly hard to find a reliable retirement calculator including pension. Whether you have a state retirement pension,…
Here is a guide for how to find lost money — a lost 401k or other unclaimed retirement benefits. The Big Takeaways… Each year, it’s estimated that more than 900,000 401(k) accounts go unclaimed, in addition to $300M in unclaimed pensions. The simplest ways to find your lost 401(k) is by contacting your previous employer,…
If you are an employee at a school, church, hospital or other non profit, then you are eligible for a “tax-sheltered annuity” — also known as a 403(b) plan. (Don’t work for a non profit? Learn more about annuities and how to invest in them in a tax advantaged way. ) Your work may influence…
If you are debating whether or not to take a lump sum pension offer in place of lifetime benefits, it’s important to understand key information in order to make an informed decision. According to a new Government Accountability Office report, many of the informational materials provided by sponsors offering lump sums do not present enough…
Planning for retirement has changed a lot in the last 20 years, and it is safe to assume that it will be nearly unrecognizable in another two decades. When you’re already struggling to keep up with life, how can you expect to keep up with all the changes with retirement plans, let alone understand them?…
Anyone with a multi employer pension is at risk of cut benefits. You’ve probably seen it in the movies. A worker reaches retirement and the company presents him or her with a gold watch and a nice, comfortable pension. That kind of security makes devoting years of your work life to a single company or…
Dr. Ros Altmann of PensionsAndSavings.com is known as a consumer champion and has spent a good part of her career “highlighting financial injustice, helping ordinary members of the public pro bono and explaining complex financial or economic issues for the layperson.” With her vast experience and strong knowledge base, her insight on retirement and investment-related…