Month: September 2019
“Overfunded Plans Can Face ERISA Suits, Feds Tell High Court”
The Employee Retirement Income Security Act allows for claims against pension plans that are overfunded, the federal government told the U.S. Supreme Court, weighing in on a battle between U.S. Bank and retirees looking to revive their suit against a plan that’s now in the black.
Pension crisis could be looming for at least a million retirees of religious organizations
For Catholic-affiliated organizations alone, about 1 million pensioners are now estimated to be at risk of having reduced or zero pension benefits due to a federal law that exempts religious organizations from providing regulated and guaranteed pensions.
St. Clare’s retirees take action to protect their pensions
By Kyle Garrett As the Pension Rights Center’s Operations and Referrals Manager, I hear from thousands of individuals each year. Over the past decade, many of these calls and e-mails have come from people who worked for religiously affiliated hospitals, schools, and social services agencies. These individuals – former orderlies, executives, nurses, social workers, and […]
Multiemployer pension plans need saving
I have frequently written of the potential difficulties facing those preparing for retirement who do not have the advantage of a defined-benefit pension. Today I’d like to address a different crisis: the potential insolvency of pension funds that cover millions of people who have lived, worked and planned their retirement on the assumption that their […]
Op-Ed: Social Security isn’t in crisis. It just needs a tune-up
Eighty-four years ago Wednesday, President Franklin D. Roosevelt signed Social Security into law. He advised future generations to continue building on the program’s foundation, which he explained “represents a cornerstone in a structure which is being built but is by no means complete.”