A group of Kroger employees and retirees is suing an Illinois-based pension fund, claiming their retirement money has been mismanaged.

The lawsuit involves an underfunded pension plan called Central States, Southeast and Southwest Areas Pension Fund that holds about 5,000 current and retired Kroger Co. (NYSE: KR) employees’ retirement funds, according to the complaint filed in U.S. District Court in Illinois. The outside plan has lost assets over the years as fewer members contribute and thanks to investment losses. Kroger employees want out of the plan.

The 11 employees and retirees who filed the lawsuit call the pension plan “massively underfunded” and say it’s projected to be insolvent by 2026, according to the lawsuit. The plan has $17.8 billion in assets and $35 billion in promised investments.

The plaintiffs in the case live in Indiana, Michigan and Kansas. They worked at Kroger for decades. Many are retired but have gotten jobs to make up for lost pension benefits or are expecting to get jobs during their retirement.

More than a quarter of a million active and retired truckers and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money.

The potential cuts are possible under legislation passed by Congress in 2014 that for the first time allowed financially distressed multi-employer plans to reduce benefits for retirees if it would improve the solvency of the fund. The law weakened federal protections that for more than 40 years shielded one of the last remaining pillars that workers could rely on for financial security in retirement.

The Central States Pension Fund, which handles the retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York and Minnesota, was the first plan to apply for reductions under the new law.

Much is at stake. Boomers are retiring at a rate of 10,000 a day. In 2014, an estimated $325 billion was withdrawn from 401(k) plans as they retired. That’s projected to reach $500 billion in a few years, according to Cerulli & Associates, a Boston research firm.

Still, many haven’t thought much about what to do with the 401(k).

Washington Post provides some ideas.

Dental savings plans, sometimes called discount dental plans, are an alternative to dental insurance. If you sign up, you'll have access to a network of dentists in your area who participate in the plan. These dentists offer you their services at discounted fees. Discounts can vary greatly, ranging from 10% to 60% off of regular prices.

BankRate.com provides more information.

Every mutual fund or ETF has an expense ratio.  You may not pay a sales load or commission but every fund has a fee.  Here's a list of Vanguard funds that recently lowered those fee's.   Great news!...42 Vanguard funds lowered their expenses.

Hopefully more mutual fund companies will follow this trend!

Make sure to take your Required Minimum Distributions from your IRA, employer 401k plan or other retirement accounts by April 1, 2016. If you did not take that distribution in 2015 you'll need to take a second distribution by December 31st.

Nearly 58% of 401k plans make a Roth available now.  Your Roth 401k does not have any income limits to contribute.  Call your employer plan provider and take advantage!

U.S. West Texas Intermediate (WTI) crude settled at $31.41 a barrel, down $1.75, or 5.28, having early fallen to $31.88, an intraday low going back to December 2003.

Chart intraday

Okay take a few naps...work on some projects around the house, walk the dog...you've got a lot of time on your hands. Here's an AARP website that offers help and exercises on planning in retirement:

LifeReimagined.org

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