Author: dcadmin
Treasury Department approves pension cuts for Cleveland Iron Workers’ retirees
WASHINGTON – In a decision affecting more than 2,000 workers, retirees, spouses and widows, the Treasury Department announced on Friday that it had approved Iron Workers Local 17 Pension Fund’s application to cut retiree pensions under the Multiemployer Pension Reform Act (MPRA). This decision marks the first time the Treasury Department has allowed retiree pension […]
Catholic hospital pensions meet the U.S. Supreme Court; retirees in limbo
Catholic hospital employees who fear they will lose the pensions they were promised were delivered a setback this week, courtesy of the U.S. Supreme Court. The court it will hear three cases — including one against the pension plan of St. Peter’s University Hospital in New Brunswick — to decide what kind of pension plan […]
High court set to rule on church-plan status
The U.S. Supreme Court has agreed to resolve whether church-affiliated retirement plan sponsors are covered by the ERISA, a decision that could have wide implications for all benefit plans.
The Supreme Court Case That Could Bankrupt Religious Schools and Hospitals
On its face, Advocate Health Care Network v. Stapleton and the two other cases it’s consolidated with may seem boring—after all, they’re about federal regulations on pension plans for church-affiliated hospitals. But these cases are actually the culmination of a new, vicious fight over the rights of employers that are loosely affiliated with religious institutions, and how […]
White House Opposes Bill Creating Newfangled Pension Plan
The White House opposes a discussion draft bill that would permit significant changes to collectively bargained pension plans, and is urging Congress not to include the measure on the menu of a year-end budget bill.
Billion-Dollar Church Plan Standoff Heads to Supreme Court
The U.S. Supreme Court will hear a trio of cases asking whether large hospitals can use a religious legal exemption to avoid fully funding their pension plans, which workers claim are underfunded by hundreds of millions of dollars.
Supreme Court to decide whether certain nonprofit pension plans can claim “church plan” status
WASHINGTON – On Friday, the U.S. Supreme Court announced that it will hear three cases to decide whether pension plans established by religiously-affiliated nonprofit healthcare systems can receive the same treatment as plans established by churches. In all three cases, lower courts have ruled that the plans are not exempt from federal law and must […]
Divorcing Spouses Urged To Ensure Retirement Fund Rights
Divorcing spouses need a special court order to protect their right to tap a partner’s retirement benefits, the Pension Rights Center said Wednesday.
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.
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.
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.
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.
