pension

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GM's pension buyout sets corporate example

Jun 6, 2012
General Motors' move to cut pensions costs is likely to copied by other companies struggling with underfunded plans for retirees.
Posted In: General Motors, GM, pension
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San Jose pension vote could set precedent

Jun 5, 2012
Voters in the California city today are considering slashing public employee pensions in a ballot initiative that could set a precedent for other cities.
Posted In: San Jose, pension
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To annuitize or not to annuitize -- with apologies to Shakespeare

Mar 29, 2012
I am ready to convert my 401(k) into an IRA. I am 61 years old and want to start taking annual distributions. The current balance in the 401(k) is $562,000 and I would like to withdraw 4 percent annually. Fidelity Investments is recommending a Guaranteed Annuity of $400,000 and the remaining in a managed portfolio fund (balanced). The annual fee for annuity is 1.90 percent of the balance and the managed portfolio 1 percent. These are the only fees. There is a 2 percent penalty if withdrawn within the first 5 years. Is this a good option, or should I keep the money in moderate conservative index funds? Emma, Las Cruces, NM
Posted In: annuity, immediate annuity, retirement savings, 401(k), IRA, pension

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