retirement fund

San Francisco (PRESS RELEASE – December 19, 2010) - A new, nationwide survey of small business owners and upper-middle income professionals who invest in defined benefit (DB) plans found that an overwhelming majority consider these plans a top strategy for reducing taxes and achieving a financially secure retirement.

“The survey findings confirm that defined benefit plans, once offered primarily by big business, today offer outstanding tax advantages for businesses with one-to-five employees and for self-employed people”

New York officials are forgoing an 8 percent discount on their nearly $1 billion payment to the pension fund for state workers, opting instead to pay later.

Amid a widening investigation into possible kickbacks involving New York’s pension fund, the state’s comptroller has announced a ban on placement agents being involved in the fund’s investments.