PRC In the News
07/31/12|Bloomberg BNA Pension & Benefits Reporter

Sen. Harkin Outlines Pension Proposal Based on Privately Trusteed Hybrid Model

Sen. Tom Harkin (D-Iowa) released a retirement security proposal July 27, saying he will formally introduce legislation next year but that he wants candidates to debate the proposal during congressional and presidential campaigns this fall.

PRC In the News
07/27/12|Investment News

Sen. Harkin proposes retirement plan revamp, Social Security fix

Sen. Tom Harkin, D-Iowa, on Friday proposed a way to bolster retirement savings at work, plus a series of improvements to Social Security.

PRC In the News

Democratic Senator Proposes New Type Of Retirement Plan

Senator Tom Harkin (D-IA) outlined the principles for a new type of retirement plan in a report released today. This sort of plan is sorely needed given the current state of retirement savings.

PRC In the News
07/27/12|Next Avenue

Is This the Solution to America’s Retirement Crisis?

A provocative economics professor wants to overhaul the 401(k) system with Guaranteed Retirement Accounts

PRC In the News
07/27/12|Investment News

Pension plans keep more retirees out of poverty, reduce reliance on public assistance

Study: Defined-benefit pensions not only aid seniors but also provide a public service

Press Release

Pension Rights Center Applauds Senator Harkin for Bold Proposal to Solve Nation’s Retirement Crisis

Today the Pension Rights Center applauded Senator Tom Harkin, chairman of the Senate Health, Education, Labor, and Pensions Committee, for his new report, The Retirement Crisis and a Plan to Solve It. “Senator Harkin’s bold report identifies the causes of the retirement crisis and proposes imaginative and realistic solutions to the address the crisis,” said […]

PRC In the News

4 Ways to Fix the 401k Mess

Recently, InvestorPlace Editor Jeff Reeves discussed the plight of older Americans regarding their retirement savings — or lack thereof. He cites an Aon Hewitt report showing that the average 60-year-old has $114,500 in his or her 401k, which provides approximately $4,600 per year over a 25-year period.

PRC In the News
07/25/12|Human Resource Executive Online

COLAs Vanishing from Pension Plans

Much like rotary phones, snail mail and pension plans in general, cost-of-living allowances are increasingly becoming a thing of the past, new research finds. But, for those organizations considering a COLA, experts say they should implement one on an age-segmented basis to the workforce.

PRC In the News
07/24/12|Investment News

Armed with fee info, plan sponsors bailing on service providers

Mandated retirement plan fee disclosure has been in effect for only a few weeks, but plan sponsors are already bailing on costly service providers.

PRC In the News

Women Seen Living Retirement in Poverty at Higher Rates Than Men

Women age 65 and older live in poverty at higher rates than men even as more of them participate in employer-sponsored retirement plans, according to a U.S. Government Accountability Office study.

PRC In the News
07/24/12|St. Louis Post-Dispatch

401(k) accounts are “leaking” due to loan defaults

Most financial advisers say borrowing from your 401(k) retirement account should be a last resort, but 20 to 30 percent of plan participants do so anyway. Since the Great Recession, a growing number of people have been defaulting on those loans, at great cost to their future retirement security.

PRC In the News
07/22/12|New York Times

Our Ridiculous Approach to Retirement

I work on retirement policy, so friends often want to talk about their own retirement plans and prospects. While I am happy to have these conversations, my friends usually walk away feeling worse — for good reason.