Statement of Norman Stein on “Building a Secure Future for Multiemployer Pension Plans” (May 27, 2010)
Pension Rights Center Senior Policy Adviser Norman Stein testified about safeguarding the financial health of multiemployer plans at a hearing before the Senate Health, Education, Labor, and Pensions Committee.
Social Security matters to America’s budget – Don’t cut it!
By Joellen Leavelle Over the last few months you’ve probably heard reports about the president’s fiscal commission. Word around town is that this secretive commission, with its stated goal of reducing the federal deficit, is seriously considering cuts to Social Security. Instead of looking at ways to reduce Social Security, the deficit commission should think of […]
PRC letter to the U.S. House of Representatives in support of 401(k) fee disclosure provisions in H.R. 4213
May 20, 2010: The Pension Rights Center sent a letter to Rep. George Miller and the rest of the House of Representatives, expressing its strong support for provisions in H.R. 4213 that require better disclosure of 401(k) fees.
New I.R.S. rules clarify when participants can sell company stock in 401(k) plans
Dow Jones Newswires reports that the Internal Revenue Service has released rules clarifying when participants in 401(k) plans can sell company stock held in their accounts. The rules implement a provision in the Pension Protection Act of 2006 that requires 401(k) plans to allow participants to sell company stock that has been contributed as a “matching contribution.” Congress enacted this provision to protect […]
PRC letter to Senator Blanche Lincoln regarding swaps involving derivatives
May 13, 2010: The Pension Rights Center sent a letter to Senator Blanche Lincoln urging her to keep important protections for pension plans when they enter into swaps involving derivatives.
Happy Older Americans Month
May is Older Americans Month. The U.S. Administration on Aging has announced that this year’s theme for the month is “Age Strong! Live Long!” which “recognizes the diversity and vitality of today’s older Americans who span three generations.” In addition, our friends at Wider Opportunities for Women will be holding their second annual blog day on May […]
PRC comments to EBSA on a proposed rule on investment advice (05/05/2010)
The Pension Rights Center submitted comments to the Employee Benefits Security Administration on its proposed rule on the exemption under ERISA § 408(g) of certain categories of investment advice from the prohibited transaction rules. The Center suggested improvements to the rule to ensure that investment advice is unbiased and free of conflicts of interest.
PRC responds to a Request for Information from the Dept. of Labor and the IRS on lifetime income options (05/03/2010)
The Pension Rights Center submitted comments to the Department of Labor and the Internal Revenue Service in response to the agencies’ Request for Information (RFI) on lifetime income options in retirement plans. The Pension Rights Center also submitted comments with nine other organizations to the same RFI that specifically address how lifetime income options can […]