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Planning to Retire

August 2010


The 10 Biggest Failed Pension Plans

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Pension plans abandoned by just ten companies make up 63 percent of all claims paid out by the Pension Benefit Guaranty Corp., the government agency that insures private sector pensions. Just two industries, air transportation (33 percent) and metals (27 percent), make up the majority of pension ...

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retirement

More Workers Take 401(k) Early Withdrawals

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Workers are increasingly tapping their retirement accounts early to prevent foreclosure or eviction, pay for college, and purchase a home. The percentage of 401(k) participants taking loans and hardship withdrawals has jumped significantly over the past year.

Some 11 percent of 401(k) account owners ...

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retirement

Internships for Older Workers

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Internships are no longer just for college students and recent graduates. Experienced workers are increasingly applying for internships to network at a desirable company or change careers. Some 10 percent of employers have received internship applications from workers age 50 or older, according to ...

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retirement

Fewer Workers Able to Retire at Age 65

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Retirement at age 65 may be a thing of the past. Americans are now delaying retirement until older ages than previous generations.

Among men working at age 64, the probability of retiring at age 65 has dropped from 56 percent for those born between 1913 and 1917 to about a quarter (26 percent) of ...

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retirement

Social Security Costs Exceed Income

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Social Security program costs will exceed tax revenues in 2010 and 2011, due in large part to the recent economic downturn, according to the annual Social Security Board of Trustees report released today. Tax revenues will again support spending in 2012 through 2014. But benefits will begin to ...

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retirement

Good Retirement Benefits Keep Men on the Job

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A good retirement benefit package may keep men more loyal to the company, according to a new Bank of America and Merrill Lynch Wealth Management survey. After compensation and promotions, retirement benefits are the most highly valued job perk by men with investable assets of $250,000 or more.

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retirement