How proposed changes will affect private plans

Article Abstract:

Sen. Bob Kerrey and Alan Simpson have presented a comprehensive package to Congress which would reform the Social Security System, the pension systems for Congress and federal employees. There are predictions that the current Social Security system incur a negative cash flow by 2013 as baby boomers retire. The Kerrey-Simpson proposal would force Congress to make 30-year projections. Sen. Kerrey proposed some changes such as privatizing the system, converting the $500 per child tax credit to the child's savings account.

Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Evaluation, Social policy, Kerrey, Bob, Simpson, Alan K.

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Schwab enters the 401(k) battleground

Article Abstract:

Charles Schwab & Co. made its entry into the competitive 401(k) market with its introduction of the SchwabPlan targeting firms with 200 to 2,500 employees and $3 million in assets. The plan allows employers to select up to 12 investment options from Schwab's roster of more than 1,300 funds. Other features include a Personal Choice Retirement Account and a self-directed option for participants.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Financial services industry, Financial services, Services, Salary reduction savings plans, 401K plans, Charles Schwab & Company Inc.

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Paring the politics from a public plan

Article Abstract:

Connecticut Treasurer Christopher Burnham prefers to manage state finance from a banker's perspective. He has reduced investment division staff by 25%, batted for legislation to improve his department's flexibility and ethics and unveiled risk investment in the pension fund. He stirred controversy when he called for an outside audit of his department.

Management, Officials and employees, Connecticut, State finance, Burnham, Christopher

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