Month: January 2015
Time to close Wall Street’s “Retirement Advice” loophole
There is a loophole in the rules that govern Wall Street brokers and financial firms that provide retirement investment advice that can drain away thousands, or even tens of thousands, of dollars of hard-earned savings from a single retirement account. Today, a coalition of senior, union and consumer groups launched a new website-SaveOurRetirement.org-to mobilize support […]
Consumer groups, unions push for DOL fiduciary rule
A new coalition of labor unions and consumer advocates has formed to help generate support for the Department of Labor’s anticipated new fiduciary standard, which would make broker-dealers beholden to the high standards of care established under the Employee Retirement Income Security Act.
Coalition Petitions For Pension Advisor Fiduciary Mandate
Several of the nation’s most influential consumer and labor groups have started an online petition demanding a fiduciary obligation on financial advisors consulting with pension plans and their participants.
Public Interest Organizations Join Forces to Protect Americans’ Retirement Savings
SaveOurRetirement.org will educate workers and retirees about the “Retirement Advice Loophole” – and mobilize public support to close it Washington — A broad range of national public interest organizations have joined forces in a new campaign to protect Americans from the “Retirement Advice Loophole” that can drain away thousands of dollars of hard-earned savings from […]
Remarks by Karen Ferguson at the PBGC’s 40th anniversary forum (January 12, 2015)
On January 12, 2015, The Pension Rights Center co-sponsored a forum, celebrating the 40th anniversary of the Pension Benefit Guaranty Corporation, the federal agency that insures most private pension plans. PRC Director Karen Ferguson delivered the following remarks to open the event: Welcome. The Pension Rights Center is absolutely delighted to co-sponsor this 40th […]
Organizing to Protect Our Pensions
Reckless Wall Street schemes tanked the economy and Teamster pension funds. Now Teamsters and retiree advocates are coming together to hold Wall Street accountable and take on pension cuts.
How Did It Happen? Disastrous Pension Bill Is Now Law
Congress approved pension cut legislation in a sneak attack amendment to the budget bill. The fight to protect Teamster pensions is on. Teamsters and retirees are joining the Pension Justice Campaign.
Congress punishes retirees for company lapses
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.
Illinois creates novel savings plan
Illinois has just adopted a unique plan to get its residents to invest for retirement — automatic enrollment in a savings program for private-sector workers whose employer doesn’t offer a 401(k) or similar plan.
Illinois Is First State With New Savings Plan for Workers
Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program.
