PRC In the News
06/25/14|Pensions & Investments

Future of Retirement Solutions [VIDEO]

PRC Executive Vice President Karen Friedman moderates a panel discussion on the future of retirement solutions at the Global Future of Retirement conference sponsored by Pensions & Investments. More videos from the conference here. 

PRC In the News
06/25/14|Pensions & Investments

Pension plan design should be cross-generational — panel

Income replacement and securing pension benefits for multiple generations should be the guide to achieving adequate retirement income, said panelists at Pensions & Investments‘ inaugural Investment Innovation and the Global Future of Retirement conference.

PRC In the News
06/24/14|Bloomberg BNA's Pension & Benefits Reporter

IRS Private Letter Rulings Add Fuel to Fire On Lump-Sum Offers, De-Risking Debate

Five recent Internal Revenue Service private letter rulings allowing defined benefit plans to offer lump-sum benefit distributions to participants already receiving benefits are likely to encourage more employers to jump on the de-risking bandwagon, especially at a time when many employers are expressing interest in decreasing the impact of plan risks on their balance sheets.

Blogs & Newsletters

Senator Harkin Introduces Legislation to Protect Whistleblowers

Senator Tom Harkin (D-IA) is leading the way in Washington when it comes to championing the rights of current and future retirees. His proposal for USA Retirement Funds has received widespread acclaim as a common-sense, innovative way of providing retirement security to millions of American workers who do not have a workplace pension or 401(k) […]

PRC In the News
06/17/14|Yucatan Times

The United States, on the verge of a retirement crisis

“For retirement, the answer is 4-0-1-k,” proclaimed Tyler Mathisen, then editor of Money magazine in 1996. “I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself.” For this sentiment, and others like it, Mathisen was soon rewarded with an on-air position at financial news network […]

PRC In the News

Retirees Suffer as 401(k) Rollover Boom Enriches Brokers

Kathleen Tarr says AT&T Inc. employees looked to her as “their de facto 401(k) expert.” Visiting their homes and offices, she advised them on their retirement plans as they called up balances on computer screens. Actually, Tarr worked for Royal Alliance Associates, a brokerage firm owned by insurer American International Group Inc. (AIG). She encouraged […]

PRC In the News
06/13/14|New York Times

Brokers Fight Rule to Favor Best Interests of Customers

David O’Brien, a certified financial planner, has tried to repair the retirement portfolios of several victims over the years. There was the high school science teacher who didn’t realize she had been sold a variable annuity, where layers of incomprehensible fees devoured nearly 2.5 percent of her retirement savings each year. Then there was the […]

Blogs & Newsletters

Breaking Pension Promises is No Solution at All

Complexity is to be expected when discussing an issue like pensions. So for the moment let’s make things simple: 150 to 200 multiemployer plans are severely underfunded and may run out of money in 15 to 20 years if no action is taken. There are approximately 1.5 million workers and retirees in these plans. To […]

Comments & Letters

PRC Letter to the Department of Labor on Its Spring 2014 Regulatory Agenda (June 10, 2014)

The Pension Rights Center sent a letter to the Labor Department’s Employee Benefit Security Agency (EBSA), expressing concern over pension issues that are missing from EBSA’s Spring 2014 Regulatory Agenda. The letter highlights four areas that need improvement to better protect the pension rights of workers and retirees: Updating claims and appeals procedures for pension […]

PRC In the News

Should union pensions be cut?

Congress is expected soon to consider the recommendations of a coalition of unions, pension administrators and employers supporting tough measures to save its pensions. The National Coordinating Committee on Multiemployer Plans, or NCCMP, offers several solutions to the problem of pension underfunding in its report, “Solutions not bailouts.” One of its solutions calls for drastic […]

PRC In the News

401(k) the new piggy bank

What employers can do to help stop early withdrawals

PRC In the News
06/03/14|AARP Magazine (June/July 2014 issue)

The Great Pension Sell-Off: Should you take a lump sum or an insurer’s annuity?

Carl Monheit’s former employer reliably mailed his monthly check to him for 17 years. A year and a half ago things changed. The Hackensack, New Jersey, resident, along with thousands of other retired managers, learned he would no longer be part of Verizon’s pension plan. Instead, the telecommunications giant bought them an annuity. While payments […]