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A Cost of Living Adjustment (COLA) is an occasional increase in the amount of a retiree’s or beneficiary’s pension payment in order to account for inflation. COLAs have been much discussed recently, in part because it has been so long…
Many times on this blog we’ve discussed the shift from defined benefit pensions to 401(k)-style defined contribution plans. While this transition has been most dramatic in the private sector, it is also occurring in the public sector. We’ve detailed how…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
It’s been 40 years since Congress passed the Revenue Act of 1978. Why is this obscure piece of legislation significant? Because the Revenue Act created Section 401(k) of the federal tax code. Over the past 40 years, the 401(k) provision…
Two days before Christmas, the Washington Post published a powerful article warning of a frightening future: a United States without pensions. The Post story highlights the plight of former employees of a McDonnell Douglas plant in Tulsa, OK. These employees…
In a few short days, many Americans will begin writing their New Year’s resolutions. Some will try to lose weight, others will try to exercise more, and many others will follow resolutions of their own. We at the National Public…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
We’ve written a lot on this blog about how 401(k)s and other defined contribution plans fail to provide adequate retirement savings for most working people. There is now plenty of evidence that most workers will not save anywhere close to…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
On Thursday, Americans will gather with friends and family to celebrate Thanksgiving. It is the time of year to reflect on what we are thankful for and to give thanks to those who make our communities stronger. We at NPPC…
Welcome to the latest edition of This Week in Pensions! As we do most weeks, we have gathered the best stories about pensions and retirement security from the previous week. This is the news you need to know in the…
The first public pension plan for teachers was established in Manhattan in 1894. In the 1910s, six states established teacher pension plans. More states followed suit and now the overwhelming majority of public school teachers in the United States participate…