Blogs & Newsletters
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 […]
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 […]
PRC Voices Concerns on Effect of Plan Information Electronic Recordkeeping
By David Brandolph The U.S. Labor Department should address the challenges and risks faced by employee benefit plan members due to the electronic and digital recordkeeping of their plan information, the Pension Rights Center told the ERISA Advisory Council during recent testimony. Pension Rights Center Senior Policy Counsel and Acting Legal Director Norman P. Stein, joined by […]
Barbienomics: from panacea to real world poverty
By Karen Friedman I joined the throngs of people who flocked to see the monumentally popular movie, Barbie. I dressed up in hot pink from head to toe – because I can’t resist any opportunity for theatricality and a fun community event (which won’t surprise anyone who has been to our fundraising galas). My younger […]
PRC urges additional consumer protections when employers unload pension liabilities
Should the U.S. Department of Labor’s (DOL) rules be strengthened to better protect workers and retirees when employers unload their pension responsibilities in so-called “de-risking” transactions? That was the question asked and addressed during an all-day hearing July 18 convened by DOL’s ERISA Advisory Council. Norman Stein, PRC’s Senior Policy and Legal Counsel who testified […]
When Swimming in 401(k) Asset Transfer Water: Beware of Sharks
By David Brandolph I expect a 401(k)-type plan customer service call center to be a place to get impartial information about the plan and one’s account. But a recent experience with a center representative has made me question the impartiality of anyone—including such a representative–who recommends transferring plan assets to an IRA, particularly if that […]
PRC News, Spring 2023
PRC urges IRS to protect spouses The Pension Rights Center (PRC) filed comments with the IRS/Treasury Department on March 30th urging the agency to strengthen – not weaken – critical legal protections for spouses’ retirement security. In its letter, PRC registered its strong disapproval of an IRS proposed rule that would eliminate the long-standing requirement […]
Ralph Nader Radio Hour Features Pension Rights Center
By David Brandolph Pension Rights Center Executive Director Karen Friedman was recently interviewed on the Ralph Nader Radio Hour (the interview begins at 27:48) about current retirement issues. Referring to the protests over retirement issues in France, Friedman started the interview by telling Nader and co-hosts Steve Skovran and David Feldman that “Retirement issues are so […]
Racial and Income Inequities Threaten Older Workers’ Retirement Security, Study Shows
By Jane Smith A joint study from The New School’s Schwartz Center for Economic Policy Analysis (SCEPA) and the Economic Policy Institute (EPI) provides insight into the systemic inequities and retirement challenges faced by lower income workers, particularly Black and Hispanic people and women. As a result, many people must overcome substantial hurdles to achieve […]
Happy Valentine’s Day from the PRC
Happy Valentine’s Day! As we celebrate this day of love and appreciation, we want to take a moment to recognize the love you have shown for the Pension Rights Center and the love we have for all of you. Thanks to you, we can continue our mission to protect and promote the retirement security of […]
PRC applauds passage of priority consumer protections in new retirement law
By Karen Friedman The Pension Rights Center (PRC) applauds the recent inclusion of several key consumer provisions in the Setting Every Community up for Retirement Enhancement Act (better known as SECURE 2.0), a retirement legislative package that was passed as part of the Omnibus spending legislation, which President Biden signed into law on December 29th. […]
