Retirement

Bankers expect the number of mortgage foreclosures to accelerate over the next five years, according to a survey conducted for FICO by the Professional Risk Managers International Association.

Despite the economic downturn and a widely held belief that the country is heading into another recession, benefit plan participants are committed to saving money for retirement, according to the Mercer Workplace Survey.

A Pittsburgh company must restore $67,138 in plan assets and interest to its employee retirement plan, according to the U.S. District Court for the Western District of Pennsylvania.

A new study by the MetLife Mature Market Institute revealed that women who take an active role in their retirement planning stand a better chance of securing their finances in retirement than those who avoid the process.

When the Department of Labors Employee Benefits Security Administration re-proposes its fiduciary rules, it must take into account their effect on broker/dealers, plan sponsors, record keepers and plan auditors, says Jeleen Guttenberg, a partner in the law firm Bracewell & Giulianis Employee Benefits, ERISA, and Executive Compensation group.

The $8.3 billion shortfall predicted by the time the fiscal year ends in June includes $5.5 billion in unpaid bills and another $2.8 billion from a payment backlog for Medicaid, employee health insurance bills and business tax refunds, the report said.