PRC In the News
03/29/15|Crain's Benefits Outlook

PBGC may need a financial safety net of its own

Forty years after it was created, the future of the federal agency that guarantees employees’ and retirees’ pension benefits is in doubt.

PRC In the News
03/29/15|Crain's Benefits Outlook

Multiemployer pensions rescue buys the PBGC some time

While experts may disagree on the strength of the Pension Benefit Guaranty Corp.’s insurance program for single-employer pension plans, there is a broad consensus that lawmakers had to act last year to prevent the collapse of big, underfunded multiemployer pension plans, and with that the PBGC’s multiemployer insurance program.

PRC In the News
03/28/15|Pittsburgh Tribune Review

Shortfalls sabotage promise of union retirees’ pensions

Once considered sacrosanct, many retiree pensions may no longer be secure. A change in federal law passed last year with bipartisan support would allow struggling union pension funds to cut benefits for retirees younger than 75 by as much as 60 percent.

PRC In the News

Could these policy fixes help you save for retirement?

Despite the challenges many Americans face in setting aside enough money to finance their golden years, experts say the retirement system is not a lost cause. But a few improvements—many already in the works—could make a big difference for savers.

Blogs & Newsletters

Spouses should have a say in whether survivor benefits will be provided

A recent New York Post article drew attention to a widow facing a tragic situation. Her husband, a retired police officer, had taken his own life. Without going into the grisly details of the case, her husband wanted to cause his wife as much pain as possible. Three weeks before his suicide, the retiree changed […]

PRC In the News
03/24/15|Bloomberg BNA's Pension & Benefits Reporter

Two States Consider De-Risking Legislation; Insurance Lawmaker Group Adopts Guidelines

As more companies offload their defined benefit pension obligations to insurance companies in multibillion-dollar transactions, legislators in some states are starting to take notice and to consider laws that are aimed at protecting retirees.

PRC In the News
03/24/15|Bloomberg BNA's Pension & Benefits Reporter

6th Cir. Church Plan Case Against Ascension Remanded for Settlement Consideration

The first church plan case to reach the federal appellate courts is being returned to the district court to consider a proposed settlement between the parties, according to an order issued by the U.S. Court of Appeals for the Sixth Circuit (Overall v. Ascension Health, 6th Cir., No. 14-1735, 3/17/15).

PRC In the News

8 Questions To Ask Before Taking A Pension Lump Sum Offer

When it comes to analyzing a lump sum pension offer, employees need more help. That’s the conclusion of a new Government Accountability Office report, Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits.

PRC In the News
03/22/15|Columbus Dispatch

Significant pension cuts loom for retirees

Since Whitley Wyatt retired in 2000 after 33 years as a trucker, he’s collected a pension of $3,300 a month. Now, the 71-year-old says as much as $2,000 of his monthly check is at risk because of legislation passed by Congress last year that is meant to help underfunded multiemployer pension plans bolster their finances […]

PRC In the News

Retirement Income Gap Projected at $7.7T

The Pension Rights Center updated its aggregate U.S. retirement income deficit figure to $7.7 trillion—up from $6.6 trillion just five years earlier—in conjunction with today’s retirement preparedness hearing by the U.S. Senate Special Committee on Aging.

Press Release

Nation’s Retirement Income Deficit Now $7.7 Trillion

Washington – Five years after it was first announced, the nation’s Retirement Income Deficit (RID) has risen from $6.6 trillion to $7.7 trillion. The updated figure was released by the Pension Rights Center today in conjunction with a hearing on “Bridging the Gap: How Prepared are Americans for Retirement?” held by the U.S. Senate Special […]

PRC In the News
03/09/15|Pensions & Investments

Obama puts weight behind push for fiduciary standard

With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.