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Treasury Department

Pension Rights Center Applauds Treasury Department/IRS for Protecting Retirees by Banning Lump-Sum Buyout Offers

News Release

WASHINGTON – In a welcome move by the Department of the Treasury and the IRS, the agencies released last week a notice to amend Treasury regulations to stop companies from offering lump-sum buyouts to retirees who are already receiving a monthly pension.

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PBGC readies rules to cut retiree pension benefits

News Item

The Pension Benefit Guaranty Corporation (PBGC) is getting ready to implement a new law that allows distressed union multi-employer pension plans to reduce retiree benefits — if that can halt them from sliding into insolvency.

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Critics question proposed rules for cutting pensions

News Item

Six months after Congress approved reducing benefits promised to workers covered by certain troubled pension plans, the IRS and the Pension Benefit Guaranty Corp. have published proposed rules for how pension promises can be broken.

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IRS Moves to Ease Pension Pain

News Item

AARP Bulletin story exposed drastic payment reductions

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Some Union Pension Cuts Likely As New Federal Rules Take Shape

News Item

The likelihood that hundreds of thousands of union members nationwide won’t be receiving the full pension benefits promised to them is becoming clearer as federal regulatory agencies in Washington, D.C., move to implement new pension legislation quietly approved in the final weeks of 2014.

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Signed, Sealed and Delivered! 1,500+ comments delivered to the Internal Revenue Service

Blog entry

Yesterday afternoon, Karen Friedman, Nancy Hwa and I hand-delivered more than 1,500 comments to the Internal Revenue Service.

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Congress punishes retirees for company lapses

News Item

When Congress passed the spending bill in December to keep the government running, a hidden provision in the act sent shivers of fear into the retirement industry. The provision allows underfunded multi-employer pension plans to reduce benefits for retirees so the government pension insurance fund won’t have to bail out the plans.

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That solid pension benefit? It may be subject to change

News Item

In the fine print of the federal budget compromise, troubled pension plans now have the right to reduce benefits

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Multiemployer plans can cut benefits to stay solvent

News Item

Trustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.

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Prudential Piles on the Corporate Pensions

News Item

Big U.S. companies have found a way to escape the burden of ballooning pension obligations: pay an insurance company to take them over.

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