Pensions & Investments: Is renewed interest in DB plans real, or just a pipe dream?
The news around corporate defined benefit plans over the past couple decades has been bleak, with companies expeditiously freezing or terminating plans. But with some help out of Washington, experts say there’s an opportunity for employers to reopen plans still on their books or provide their workers with guaranteed income in retirement.
Uptick in Withdrawals Exposes the Inadequacy of Do-It-Yourself Retirement
For decades, employers have been steadily ridding themselves of the responsibility of funding and making payments to traditional defined benefit pensions in favor of 401(k)-type defined contribution plans. But are these individual account retirement savings plans providing sufficient retirement income for most Americans? For millions of workers, that answer is “No.” A survey of individuals […]
Speech by Karen Friedman at the ARA Retiree Security Symposium
Karen Friedman, Executive Director of the PRC, gave a speech to attendees at the 2023 ARA Retiree Security Symposium in Washington, D.C. on October 17th. You can read her comments here.
PRC and Coalition React to DOL Rule to Protect Savers
The following steering group members of the Save Our Retirement coalition – AARP, AFL-CIO, Americans for Financial Reform Education Fund, Better Markets, Center for American Progress, Consumer Federation of America, Economic Policy Institute, and Pension Rights Center – released this statement following an initial review of the Department of Labor’s (DOL) proposed rule protecting Americans […]
PRC News, Fall 2023
PRC issues recordkeeping recommendations in testimony before the ERISA Advisory Council Pension Rights Center Senior Policy Counsel Norman Stein was joined by Anna-Marie Tabor, a visiting law professor at the University of Massachusetts School of Law and the former director of the Pension Action Center located at the University of Massachusetts Boston in testifying before […]
Pension Rescue Law Providing Critical Assistance to Growing List of Plans
By David Brandolph The Butch Lewis Emergency Pension Plan Relief Act of 2021 (BLA) continues to provide an important lifeline to financially challenged multiemployer pension plans, and in turn, has already brought monetary and mental stress relief to hundreds of thousands of retiree-plan-members, their spouses, families and their communities. As of October 27, the Pension […]