PRC In the News
11/30/16|Institutional Investor

Long-Lost Assets May Soon Be Reunited With Their Owners: The Pension Benefit Guaranty Corp. is expanding its long-standing missing-plan program to include defined-contribution-plan participants.

If you are one of the estimated 10,000 people a year who have lost track of their 401(k) plan, get ready for some good news: The federal insurance agency that protects private sector defined benefit pensions wants to add defined contribution plans to its search program.

PRC In the News
11/30/16|Pension & Benefits Reporter

PBGC Missing Participants Proposal Gets Broad Support From Array of Organizations

Reuniting missing retirement plan participants with their savings is a cause that everyone can rally around, as comments on proposed rules by the Pension Benefit Guaranty Corporation show.

PRC In the News
11/30/16|Wall Street Journal

Whatever Happened to That Old 401(k)?

Suspect you may have lost track of a 401(k) retirement account or pension benefit? You aren’t alone. As Americans jump from job to job, they are leaving more 401(k)-style accounts and pension benefits with ex-employers. Some lose track of the money, forfeiting a piece of their retirement security.

PRC In the News
11/22/16|Institutional Investor

Blackstone’s Tony James Wants Retirement Security for All

A surprising new voice has joined the growing chorus of those worried about a retirement crisis in the U.S.

Comments & Letters

Comments to Pension Benefit Guaranty Corporation on expansion of Missing Participants Program (November 21, 2016)

The Pension Rights Center submitted comments in response to the Pension Benefit Guaranty Corporation’s request for comments on the proposed expansion of its Missing Participants Program to include participants and beneficiaries in terminating defined contribution plans, multiemployer plans and small professional service plans.

Blogs & Newsletters

Composite bill: Another threat to multiemployer pension plans

Earlier this fall, a U.S. House of Representatives subcommittee held a hearing on draft legislation that has the potential to undermine the stability of the multiemployer pension system. What’s worse is the fact that this proposal, called the composite bill, has a real chance of being slipped into year-end omnibus legislation, not unlike the way […]

PRC In the News
11/17/16|BNA Pension & Benefits Daily

Multiemployer Pension Program’s Deficit Soars to Record High

The PBGC, which backstops defined benefit pension plans, has seen its multiemployer plan insurance program’s deficit rise by $6.5 billion in the last fiscal year to a record-high $58.8 billion

PRC In the News
11/17/16|Transport Topics

Central States Woes Continue, Pension Value Falls $500 Million

Central States Pension Fund lost $500 million during the first six months of this year, according to newly released financial documents, and continues to hemorrhage assets on the road towards eventual insolvency.

PRC In the News

Congress returns for lame duck session

Opponents to the proposal, including AARP and the Pension Rights Center,argue it provides insufficient protections for workers and jeopardizes “current pension benefits earned by retirees.”

PRC In the News
11/11/16|Pension & Benefits Daily

Iron Workers Plan Gets Bad News As Treasury Rejects Benefit Suspension

An Iron Workers defined benefit pension plan has become the third multiemployer plan to have its petition to cut benefits rejected by the Treasury Department.

PRC In the News
11/08/16|The Baltimore Sun

Treasury rejects Ironworkers union application to cut retiree benefits

The U.S. Department of the Treasury has denied an application by Ironworkers Local 16, which represents 1,100 Baltimore-area retirees and workers, to cut pension benefits to retirees to extend the life of the fund, which is in danger of running out of money by 2032.

PRC In the News
11/07/16|The National Law Journal

Religious Health Care Systems Push Back Against Pension Suits in Supreme Court

Three religious-affiliated, nonprofit health care systems are asking the U.S. Supreme Court to step into a multimillion-dollar battle with two plaintiffs firms that claim the pension plans of the medical networks are not exempt from federal law.