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Special Report on

Frozen Pension Funds

frozen pension funds special research report Photo by www.wnep.com
I've been sitting on this for several days trying to find time to think it through, but that hasn't happened, so let me toss it out to all of you. What do you think of this plan for financial firms to buy out frozen pension funds? Is this a positive development or something to worry about? I don't find myself particularly concerned, but like PBGC interim director Charles Millard, I believe the "regulatory issues and hidden risks are very complex," and that makes me wary of taking a position on the proposal before having a more complete understanding of the consequences: On and Off The Hook, by Tomoeh Murakami ...
Madoff's combined assets are about $826 million and have been frozen. Madoff provided a confidential list of his, and his firm's assets to the SEC on December 31, 2008, which was subsequently disclosed on March 13, 2009 in a court filing. Madoff had no individual retirement accounts , no 401k , no Keogh plan , no other pension plan and no annuities . He owned less than a combined $200,000 in securities in Lehman Brothers , Morgan Stanley , Fidelity , Bear Stearns , and M&T . No offshore or Swiss Bank accounts were listed. 1 Prof. John Coffee , of Columbia University Law School , said that much of Madoff's money ...
REVIEWS AND OPINIONS
Economist's View - 5 new articles
The subprime resets in 2008 should put to rest the notion that the housing market's troubles are soon to be put behind. For some reason, thinking of recent claims that financial markets have stabilized brings this picture to mind: I've been sitting on this for several days trying to find time to think it through, but that hasn't happened, so let me toss it out to all of you. What do you think of this plan for financial firms to buy out frozen pension funds? Is this a positive development or something to worry about? I don't find myself particularly concerned, but like PBGC interim director Charles Millard, ... market research, surveys and trends
Chicago Sun-Times Continues Bankruptcy Negotiations
When a business files for chapter 11 bankruptcy it’s not just the organization that goes through major changes. Many employees are affected by these changes, whether they lose their jobs or their benefits. But these decisions aren’t made over night. Many discussions occur between the business men and the union. The Chicago Sun-Times parent company- Sun-Times Media Group Inc., filed for Chapter 11 bankruptcy, but the company may not have the money needed to complete a reorganization. In fact, as the Chicago Tribune and Chicago Sun-Times report, the company may not even have enough money to fully close down shop and cover their ... market research, surveys and trends

SURVEY RESULTS FOR
FROZEN PENSION FUNDS

Argentina - Ortuz
is just grabbing hold of its external debts and is restoring from its financial crisis of 2001, it is faced with a new challenge : how to survive the global financial crisis? Only last year Argentina was able to pay off its Paris Club debt, servicing of the public sector debts. This obviously caused a cash problem for the government. Analyst warned Argentina last year that paying debts would drain currency from the central bank, which uses its reserves to back the peso and domestically-sold debts. Nevertheless, Argentina still held $14,5 billion in cash. Yet $12 billion in bonds is due in 2009 and twice the amount expired in 2008. industry trends, business articles and survey research
9.4 Percent of Pension Plans Frozen, PBGC Study Says
the Pension Benefit Guaranty Corporation found that 9.4 percent of plans had halted participants’ benefit accruals as of 2003, the most recent year for which complete data are available. To date, the principal source of data on frozen defined benefit pension plans has come from client surveys conducted by benefits consulting firms. The PBGC study is the first to examine the “Form 5500” annual reports that administrators of qualified pension plans must file with the federal government. The 2003 data indicated that while 9.4 percent of all plans ... industry trends, business articles and survey research
RELATED NEWS
Understanding the Stock Market and Your Pension Fund.
Pension funds are a rare commodity in the employment market, and, for the lucky few who work for companies or organizations that provide pensions, pension funds are an important part of a retirement plan. Pension funds, unlike 401(k) plans, provide guaranteed payouts and have historically been a large factor in promoting employee security. However, the Great Recession and the ensuing collapse of the U.S. financial system left pension funds in the U.S. collectively underfunded by over $400 billion and the effect of the stock market on pension funds does not end there. According to pension specialist Mercer, “The chaos that has ... market trends, news research and surveys resources
Pension envy
In his 2003 book, "Envy," scholar and critic Joseph Epstein relates a joke of the sort that Russians tell on themselves that perfectly captures the meaning of zavist: "An Englishwoman, a Frenchman, and a Russian are each given a single wish by one of those genies whose almost relentless habit it is to pop out of bottles. The Englishwoman says that a friend of hers has a charming cottage in the Cotswolds, and that she would like a similar cottage, with the addition of two extra bedrooms and a second bath and a brook running in front of it. The Frenchman says that his best friend has a beautiful blonde mistress, and ... market trends, news research and surveys resources

INFORMATION RESOURCES

Managing your Frozen Pension Plan: A New Paradigm
Managing the Frozen Pension Plan as a Financial Obligation ... provides more funds for other enhanced benefits or increased sponsor assets to deploy in ... technology research, surveys study and trend statistics
Alternatives to Frozen Defined Benefit Pension Plans
Since their introduction in the 1980s, 401k plans and other types of defined contribution plans have become the primary means of retirement savings, leading many employers to freeze their current defined benefit plan and provide alternatives, such as a new defined benefit plan, a new defined contribution plan, or an enhanced existing defined contribution plan. Defined benefit pension plans have played an integral role in developing retirement protection for millions of American workers. These pension plans have allowed retirees to secure monthly income for life, with payments based on service and salary. Such plans in the United ... technology research, surveys study and trend statistics
Plan Well, Retire Well: Pension Plans At Risk: Employer ...
Earlier this year, my husband's employer notified him that it was freezing his pension plan. By law, he will retain all the benefits he had earned up to that point, but his pension benefit is "frozen" at that level and will not increase. Additional years of service or pay increases will have no impact. At the same time, they suspended company matching contributions to his 401(k). None of this is good news. But what actions should we take to mitigate the impact? We should revise our expectations for retirement income by re-calculating any projections we've done. I've always been conservative with ...
REAL TIME
FROZEN PENSION FUNDS
QUESTIONS AND ANSWERS
Retirement Planning: Frozen Pension Plan, summary plan description ...
My husband works for a company who offered a pension plan that was "frozen" in (meaning no compensation or years of service credit) February 2005.  The company has indicated that employees cannot access these funds unless they retire or separate from the company.  The company has since started a 401K plan.  I wanted to know if the "frozen" pension plan is untouchable and if can be rolled over to an IRA?  I realize you do not have particulars relate to he pension plan, so what would I need to know about the plan to determine if it can be rolled?  Is there something on the Form 5500 ...
WikiAnswers - Retirement Planning Questions including "Can you ...
Strategies of saving money in order to meet one's financial goals upon retiring. This can be through the use of 401(k), IRA and/or pension plans to name a few. Total questions 1600 Can you restart a frozen pension after bankruptcy is discharged or does it become obsolete? I don't really understand your term "frozen pension." Was it not exempt from the bankruptcy proceedings? Or was it held until a... Where is the best place to retire in the US? It depends entirely on what you like. If you have a lot of money and want to retire somewhere warm, a lot of people go to the Las... If you have debt but have ...