Author: dcadmin
Three LI multi-employer pension funds struggle financially
Three union pension funds based on Long Island, and dozens nationwide, have warned the U.S. Department of Labor that they are in danger of running out of money to pay retiree benefits because they have too few workers supporting too many retirees, according to filings and pension experts.
Con Artists Hijack Widow’s Monthly Pension
Retirees with pensions depend on their check arriving on time each month. Now, internet hackers are diverting millions of dollars from both social security and companies distributing pension checks.
Deny Hospital Church Plan Status, Groups Tell 10th Circuit
The multimillion-dollar battle over whether hospital pension plans can claim a religious exemption from federal law heated up this week, when retiree and religious freedom industry groups told an appellate court to rule against Colorado-based Catholic Health Initiatives.
Three Recent Wins Prove Old-Fashioned Union Power Isn’t Dead Yet
Three big wins for workers in the last nine months arrived where you might least expect them: in the old, blue-collar economy. That’s the economy where unions are down to 6.7 percent, where wins are rare and workers are supposed to be on their way out.
New white paper: Employee Stock Ownership Plans: Are They Worth the Risks?
Employee Stock Ownership Plans, or “ESOPs,” are retirement plans that invest in employer stock. They are growing in popularity not only because they receive tax benefits that are not available to other types of retirement plans, but also because of their philosophical appeal: they let the employees own part or all of the company that […]
States aim to fill pension gaps with “auto IRAs”
With a push from AARP, a small but growing number of states are legislating “automatic IRAs” for the employees of their smaller businesses that don’t offer a pension or 401(k).
Heard Off the Street: PPG passing on pensions
The Pittsburgh-based paint and coatings maker announced Monday that it will unload $1.6 billion in pension obligations it owes to about 13,400 current U.S. salaried and non-union hourly retirees by purchasing group annuity contracts from Massachusetts Mutual Life and MetLife.
Teamsters are still looking at pennies on the dollar in retirement
Teamsters in Minnesota and across the country may believe they caught a break when the U.S. Treasury Department stopped cuts in their retirement pay. But the Pension Benefit Guaranty Corporation (PBGC) is now saying the government is on track to run out of money to prop up the troubled Teamsters Central States Pension Fund in […]
Ironworkers union in Baltimore wants to cut pension benefits to save fund
Now Henry finds himself out on a ledge again, but not by choice. Ironworkers Local 16, the union that represents Henry and more than 1,100 other retirees and workers in the Baltimore area, has asked the federal government for permission to cut pension benefits.
LETTER TO THE EDITOR: Getting the facts wrong about pensions
The June 21 editorial “The hard truth about pensions,” which looked at multi employer pension plans, had a couple of misguided assertions.
Daines bill would help employees track retirement accounts
Workers changing jobs would have an easier time keeping track of their retirement plans, under bipartisan legislation introduced this week by Sens. Steve Daines and Elizabeth Warren
Elizabeth Warren Brings Donuts, Introduces 401(K) ‘Lost and Found’
Senator Elizabeth Warren, D-Mass., who most recently brought (what else?) Dunkin’ Donuts to fellow Dems occupying the House in an attempt to bring gun-control legislation to the floor, also has a plan to develop a national “lost-and-found” for retirement plans.
