Month: September 2016
Mandatory Retirement Savings Program Coming to a State Near You?
Washington state has created a Small Business Retirement Savings Marketplace where small businesses can go to get affordable retirement plans to offer their employees.
PBGC Proposes Lost & Found For 401(k) Money
Lost track of your old 401(k)? In keeping up with the times, the Pension Benefit Guarantee Corporation has issued proposed rules on a depository to hold orphaned retirement accounts for workers whose former employers terminate their 401(k) plans.
Joint Statement Opposing Consideration of “Composite” Pension Legislation
The International Association of Machinists and Aerospace Workers, the International Brotherhood of Boilermakers, the International Brotherhood of Teamsters, the National Retirees Legislative Network, the Pension Rights Center, and the United Steelworkers strongly oppose legislation recently released by the House Education & Workforce Committee that would create “composite” multiemployer pension plans. Our organizations strongly support defined […]
Lost Track of an Old 401(k)? Here’s a Plan to Help You Find Your Money
It’s surprisingly easy to lose track of your retirement savings, leaving them to be eaten up by inflation and fees—or even seized by the state. Americans jump from job to job and, in the rough and tumble of daily life, forget what they’ve left behind.
When Will New State Retirement Plans Start Enrollment?
Half of private sector employees don’t have access to a workplace retirement savings plan, but by next year several states expect to have new plans up and running.
Kline proposes more flexible benefits as part of pension reform
Rep. John Kline of Minnesota has proposed a new pension reform law that he said can save troubled multi-employer retirement plans from dissolution or insolvency by making benefits more flexible.
DuPont pension choice: ‘The company has scared everybody’
The DuPont Co. has told 18,000 former workers they have from Sept. 12 until Oct. 21 to trade their future pensions — for up-front cash, or for an earlier but smaller monthly annuity — instead of waiting until they reach retirement age to collect traditional pension checks.
Does California’s Secure Choice Retirement Have Staying Power?
A large swath of the nearly 7 million Californians working in the private sector without access to a retirement plan will soon be able to sign up for one. Or, to be more accurate, they will be automatically enrolled with the right to opt out of the new Secure Choice Retirement Savings Program.
Draft Bill May Offer Better Mousetrap for Multiemployer Pensions
Draft legislative language that would create a controversial form of multiemployer pension plan was released in the House Education and the Workforce Committee.
Multiemployer pension reforms allowing composite plans proposed
Draft legislation allowing new multiemployer pension plan designs was unveiled Friday in a discussion draft released by House Education and the Workforce Committee Chairman John Kline, R-Minn.
Joint letter to Congress on threats posed by proposed “composite” multiemployer pension plans (September 8, 2016)
the Pension Rights Center joined with retiree and labor organizations by sending a letter to the U.S. House of Representatives expressing extreme opposition to draft legislation that would create a new type of pension plan called a “composite” multiemployer plan. This draft legislation would substantially weaken the funding status of currently-existing multiemployer plans, putting at […]
