Legislative forces move to make pensions portable. (transferring pension funds to new jobs) (Engineering in the '90s)

EDN, January, 1990 by Colborn, Kate

Legislative forces move to make pensions portable Moving from job to job can cut your retirement funds in half under current law You may have heard a story similar to this one before--maybe from a friend or a colleague. A 38-year-old designer of board-level products, who has changed jobs four times since leaving military service in 1980, worries that "I'm nearly 40 years old, and I have nothing put away." Several months without a job exhausted this designer's small reserves, and at his present company, restrictions on 401K contributions--the only plan the company offers--are curtailing his efforts to build a retirement fund.

His salary puts him just over the edge of the "highly compensated employee" category, and this year his contribution...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.