The Pension Book: What You Need to Know to Prepare for RetirementEvery pension plan has its fine print. Using case studies from the Pension Rights Center, Ferguson and Blackwell show what everyone in a private plan needs to know: how and when their pension will vest; how much their benefit will be; and whether it is adjusted for inflation. Is the plan overfunded or underfunded? Will it survive should the company change hands or go bankrupt? And what happens in the event of death or divorce? Each chapter tackling these subjects is followed by a "What to Do" section in which the authors demonstrate, point by point, how we can take charge of our retirement future. No retirement plan? You're not alone. Half of all Americans have no plan other than social security, and this venerable system - never intended to cover all retirement needs - typically pays people 40 percent of what they were earning when they worked. Or maybe you're in a do-it-yourself savings plan. Increasingly, employers are substituting these plans for traditional pensions. Again, Ferguson and Blackwell provide practical suggestions and reliable advice about the pros and cons of IRAs, 401(k)s, and the other tax-sheltered savings arrangements. |
Contents
Pension Tension Pensions | 11 |
It Just Isnt Fair Rules for getting | 25 |
Eaten Alive Inflation and pensions | 63 |
The Pension Piggy Bank Rules for | 83 |
The Pension Safety Net Underfunded | 107 |
Raiding the Cookie Jar Overfunded | 121 |
The Largest Lump of Money in the World | 137 |
The Pension Players How pension rules | 155 |
Pension Tension Pensions | 11 |
Winners and Losers 21 | 21 |
It Just Isnt Fair Rules for getting | 25 |
Stranded in Buckeye Rules for getting | 37 |
calculating benefits 49 | 49 |
The Pension Safety Net Underfunded | 107 |
Raiding the Cookie Jar Overfunded | 121 |
The Largest Lump of Money in the World 137 | 137 |
Pots of Gold? The new savings plans | 171 |
No More Fiddling | 195 |
Afterword | 217 |
Change for a Cup of Coffee Rules | 225 |
Appendix | 247 |
| 263 | |
Preface xi | |
An American Dream Pensions | 3 |
Common terms and phrases
actuary American Workers amount annuities assets Bill Piatkowski Committee company owners Congress congressional cost court David Murdock defined benefit plans defined contribution plans Department of Labor divorced dollars early retirement earnings economic Employee Benefits ERISA federal Hewitt Associates Income Policy individual retirement account inflation insurance company Internal Revenue Service issues Labor Department lawyer legislation less managers ment million multiemployer plans officers older Older Women's League Pacific Lumber paid PBGC pension and profit Pension and Welfare pension funds pension money Pension Policy percent of pay plan administrator plan trustees plan's ployees private pension plans problem profit sharing plans proposal protection raiding received reports retirement age retirement benefits retirement plan rules savings plans says Senate SEPs sion social security takeover tax breaks terminated tion told U.S. Department underfunded union vesting vote Washington Welfare Benefits Administration widows women workers and retirees