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
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
It is beginning to appear that life expectancy approaching 100 years may be a realistic premise. This raises some key questions, of which perhaps the most important is, “can you afford to live to 100?” We are all probably familiar with the quote, “if I’d known I was going to live this long, I would … Continued
This is never easy, but the board of the largest U.S. pension fund is taking a new look at what the future might bring. The California Public Employee’s Retirement System (Calpers) plans to lower the current 7.5% goal to 7.0%, phased in over the next thee years. With this decision, Calpers is changing its business … Continued
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