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In 1981, during the dictatorship of General Augusto Pinochet, Chile radically reformed its pension system. It changed from a traditional public pension system to a system of mandatory individual retirement accounts. These accounts are privately managed by firms selected by…
Last week eight major universities were sued by their own employees for failing to curb excessive fees in their retirement plans. In a series of class action lawsuits filed across the country, the plaintiffs allege that the universities failed to…
As we’ve written about extensively on this blog, employer-sponsored retirement plans have changed a lot over time. In the private sector, 401(k)s have largely replaced defined benefit pensions and this shift has weakened the retirement security of working families. 401(k)s…
The Opening Ceremonies for the 2016 Olympic Games were held in Rio de Janeiro last Friday. Four days into the competition, medals have been awarded, dreams have been fulfilled, and millions watching at home have been inspired. Just like the…
It is one of the most well-known stories about American retirement: the decline of defined benefit pensions in the private sector. At one time, 88 percent of private sector workers who had a workplace retirement plan had a pension. That…
At one time, defined benefit pensions were the most common retirement plan for working people. Workers in both the public and private sectors enjoyed the security and reliability of pensions in planning for retirement. These workers knew that if they…
Welcome to the latest edition of This Week in Pensions! Each week we gather the best stories about pensions and retirement security. This is the news you need to know in the fight for a secure retirement. Here are this…
A new report out this week from the National Institute on Retirement Security offers some new insights about the portability of defined benefit pensions. According to the report, pensions have a fairly high degree of portability. One common criticism of…
Welcome to the latest edition of This Week in Pensions! After taking a week off, we are back with the latest news in the fight for a secure retirement. As we always do, we have gathered the top stories about…
Defined benefit pensions are the most secure and reliable way to provide retirement security for working families. The key feature of pensions is that they pay a guaranteed monthly benefit for life. This provides retirees with unparalleled retirement security and…
Last week NPPC’s Executive Director, Bailey Childers, submitted testimony to the Democratic National Committee’s Platform Committee encouraging them to include retirement security as part of the 2016 platform. So far this year, the presidential candidates have said little about retirement…
Teachers. Firefighters. Police officers. Behind every pension is a public servant who has dedicated their career to keeping our communities safe and prosperous. Popular rhetoric around public pensions often distracts from the true issue at hand; these aren’t numbers, these…