Total Compensation

|

Most Americans are not contributing enough to their retirement plans in order to comfortably retire by the age of 65. With the gradual demise of defined benefit pension plans, in favor of defined contribution plans, it is incumbent on individuals to take responsibility for their long-term financial security.  However, because the shift to defined contribution … Continued

Are Defined Benefit Pension Plans History?

|

Over the last several decades there has been a sea change in funding for employee pensions.  Historically, pensions have been based on defined benefit formulas that provided retirees with a set dollar amount, based on salary, tenure and other factors.  Under the defined benefit system, any shortfalls in funding were the responsibility of the employer.  … Continued