In the News • January 14, 2010
January 14, 2010 — A letter to the editor published in the Youngstown Vindicator cites NIRS research. Defined benefit plans “can provide the same retirement income as defined contribution plans [cash accounts such as a 401(k)] at 46 percent of the cost due to economic efficiencies from pooled investment risk, higher returns and lower fees. Read the full […]
In the News • January 12, 2010
January 12, 2010 — The Society for Human Resources Management reports that pension experts are warning that the goals set out under the Employee Retirement Income Security Act (ERISA) are in danger of failing as defined benefit pension plans continue to wane. According the NIRS, “Data make a strong case for reviving the use of DB plans.” […]
In the News • January 11, 2010
January 11, 2010 — The Toledo Blade publishes a letter to the editor citing NIRS research. Referring to NIRS Better Bang for the Buck study, the letter indicates that “According to the National Institute on Retirement Security, defined-benefit pensions can provide the same retirement income as defined contribution plans such as a 401(k) at 46 percent of the cost.” […]
In the News • January 8, 2010
January 8, 2010 — The Washington Post publishes NIRS letter to the editor. The letter says that the front page told the sobering story of a “lost decade” during which America’s middle class saw no real gains in jobs, income, or net worth. But the editorial page implied that some members of the middle class have it […]
In the News • December 1, 2009
Journal of Pension Benefits, Winter 2009 The advantages of defined benefit plans for employees are well-recognized, but less well-understood are the economic benefits these plans can provide employers and taxpayers. This article reviews the findings of a recent study on the economic efficiencies of defined benefit plans and concludes that defined benefit plans can do […]
In the News • November 9, 2009
The Detroit News, November 9, 2009 — Municipal Employees Retirement System of Michigan CEO Anne Wagner says that defined contribution plans alone cannot provide a secure retirement. She indicates that individual accounts were originally meant to be a supplement for retirement. Wagner cites a recent study by the National Institute for Retirement Security indicating that defined benefit plans […]
In the News • September 22, 2009
WSJ.com, September 22, 2009 — Public pensions were good shape before the financial crisis hit. In the wake of the market downturn, state and local officials are examining their plans to ensure continued sustainability for the next 50 years. Beth Almeida, NIRS executive director says that public pensions were “in really good shape” before the crisis […]
In the News • September 16, 2009
Columbus Dispatch, September 16, 2009 — A letter to the editor cites NIRS research indicating that defined-benefit-pension income reduces the risk of poverty and hardship among older Americans. The Pension Factor notes that pension income resulted in a savings of $7.3 billion in public-assistance expenditures and 4.7 million fewer households in poverty or near poverty in 2006 in […]
In the News • September 1, 2009
Dow Jones Newswires, September 1, 2009 — Pensions in states including Ohio, Nevada, Kentucky and New Mexico are considering or have already instituted new rules for public employees’ retirement plans, and more are expected. For police, firefighter and teachers, it’s in residents’ best interests to reduce employee turnover through traditional pensions, say Aon actuary William Fornia. […]