Author: dcadmin
Some Union Pension Cuts Likely As New Federal Rules Take Shape
The likelihood that hundreds of thousands of union members nationwide won’t be receiving the full pension benefits promised to them is becoming clearer as federal regulatory agencies in Washington, D.C., move to implement new pension legislation quietly approved in the final weeks of 2014.
Why Labor Department Gets a Say on IRA Advice
Individual retirement accounts are a creation of tax law, with rules spelled out by the Internal Revenue Service. Now the Labor Department, which oversees workplace retirement plans, is weighing in—proposing new rules for brokers and others giving advice about retirement savings.
Supporters, Critics, Gear Up for Fight Over Proposed Expanded Fiduciary Definition
Supporters and opponents of the Department of Labor’s conflict-of-interest proposed regulation ramped up their campaigns soon after the Obama administration announced the rule’s release.
Teamsters Mount Grassroots Campaign to Block Pension Cuts
Teamsters are up in arms over looming pension cuts that could slash the incomes of both current and future retirees—anyone under 80.
Glimmers of hope for victims of unfair pension takebacks
In a recent article, “Can They Grab Your Pension?”, AARP Bulletin highlights the problem of recoupment – when a pension plan overpays a retiree and then demands that the retiree pay back the overpayment. To recoup the money, the plan usually reduces the retiree’s benefit. It might also demand that the retiree pay a lump […]
Save Our Retirement Coalition’s Initial Statement on Rule Protecting Americans’ Retirement Savings
Washington, D.C. – The seven members of the SaveOurRetirement.org coalition – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, the Consumer Federation of America and the Pension Rights Center – released the following statement following an initial review of the Department of Labor’s (DOL) proposed rule protecting Americans from harmful conflicts of interest, when brokers and other financial advisers give retirement […]
Private pension funding drops to lowest level in 6 years
Even as stock market rose last year, pension funding levels at America’s biggest companies in 2014 fell to levels not seen since just after the financial crisis.
Major Groups Applaud Public Release of Dept. of Labor’s Proposal to Protect Americans’ Retirement Savings
Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice: “The release of […]
EPCRS Changes Make Key Clarifications For Employers, Participants, Practitioners Say
Two recent Internal Revenue Service updates to its correction program, the Employee Plans Compliance Resolution System, ease some burdens on employers discovering costly errors in their plans, practitioners told Bloomberg BNA.
PRC Comments to the PBGC on partitions and mergers in multiemployer pension plans (April 15, 2015)
The Pension Rights Center submitted comments to the Pension Benefit Guaranty Corporation in response to its Request for Information on partitions and mergers in certain underfunded multiemployer plans.
Speech by Karen Friedman to the Pension Rights Committee of Minnesota (April 11, 2015)
On April 11, 2015, Karen Friedman spoke to the Pension Rights Committee of Minnesota, a group of retired Teamsters who are concerned about possible retiree benefit cuts in certain underfunded multiemployer plans. Good morning, my friends from the Pension Rights Committee of Minnesota. Thanks for inviting me to speak today. I am the executive vice president […]
Speech by Joellen Leavelle to the Wisconsin Committee to Protect Pensions (April 11, 2015)
On April 11, 2015, Joellen Leavelle spoke to the Wisconsin Committee to Protect Pensions, a group of retired Teamsters who are concerned about possible retiree benefit cuts in certain underfunded multiemployer plans. Hi. I’m Joellen Leavelle, Digital and Outreach Director at the Pension Rights Center. Thanks to you all for inviting me to speak […]
