Month: May 2011
Don’t count on your employer for accurate pension info
A U.S. Supreme Court ruling sent an important reminder to retirees this week: you can’t necessarily rely on your employer for an accurate description of your pension benefits.
Supreme Court Decision in Amara v. CIGNA a Victory for Workers and Retirees
WASHINGTON – The Pension Rights Center released the following statement from Karen Ferguson today in reaction to the U.S. Supreme Court’s decision in Amara v. CIGNA: “This is a very important decision for employees and retirees. The Court ruled that, if pension plan trustees deliberately mislead plan participants, and the participants can show that they […]
Catholic Diocese of Wilmington returns to US court
Creditors, including lay employees, abuse survivors, object to reorganization plan
Federal worker pensions emerge as target in debt-reduction talks
The generous pension system enjoyed by millions of federal workers from clerks to senators and judges has emerged as a key target in negotiations between Vice President Biden and congressional leaders looking to restrain the growing national debt.
401(k) rights trumped by ERISA
Court rules that plan owners must get consent of spouse to pass wealth to children
Company stock isn’t best bet for employees’ retirement
Nearly a decade after Enron’s collapse, many workers still haven’t learned one of that episode’s clearest lessons: Don’t bet your nest egg on the place you work.
Benefits Committee Can be Sued for Benefits Misrepresentation
A Mars, Inc. retiree can pursue fiduciary breach claims against the Mars Benefit Plans Committee, but not against the company, for misrepresenting the monthly retirement benefit amount to which she was entitled.
GAO: 401(k) benefits skewed
If you work for a small business, it’s likely that you don’t have access to a workplace retirement plan. That’s especially true for those on the low end of the wage scale.
Bill Would Help Pilots Get More PBGC Benefits
U.S. Senator Daniel K. Akaka (D-Hawaii) and Congressman George Miller (D-California) have introduced the Pension Benefit Guaranty Corporation Pilots Equitable Treatment Act.
Many factors forcing longer working years
A cultural shift that will have huge economic ramifications for decades is under way. A majority of the 79 million “Baby Boomers” — people born between 1946-64 in the United States — are not retiring at the traditional age of 65.
Pension Pro Blasts Nunes Bill at NFMA Conference
A pension expert panned federal lawmakers’ efforts to increase oversight of state and local governments’ public pension plans.
Women face extra obstacles to secure retirement
It took the collapse of her marriage to jolt Luanne Schmidt into action. After years of taking a hands-off approach toward money, the 50-year-old nurse from Lannon, Wis., only recently took charge of her finances. Her savings and retirement security, she knew, were at stake.
