Blogs & Newsletters
Pensions lost and (hopefully) found
Imagine earning a pension after many years of hard work with a company. Then you leave your employer before retiring and without claiming your pension. When you reach retirement age, you expect to be able to start receiving that pension but you are unable to find the employer or the plan. Your pension plan is […]
Unemployed today, no retirement savings tomorrow
Last week, I accompanied Karen Friedman to Witness Wednesday, where she spoke about the fact that too many people who have lost their jobs and whose unemployment benefits have expired have had to dip into their 401(k) savings to pay for basic needs. She said, “If people use up their 401(k) money today…what will they […]
Senator Harkin Introduces Legislation to Protect Whistleblowers
Senator Tom Harkin (D-IA) is leading the way in Washington when it comes to championing the rights of current and future retirees. His proposal for USA Retirement Funds has received widespread acclaim as a common-sense, innovative way of providing retirement security to millions of American workers who do not have a workplace pension or 401(k) […]
Breaking Pension Promises is No Solution at All
Complexity is to be expected when discussing an issue like pensions. So for the moment let’s make things simple: 150 to 200 multiemployer plans are severely underfunded and may run out of money in 15 to 20 years if no action is taken. There are approximately 1.5 million workers and retirees in these plans. To […]
May is Older Americans Month
May is Older Americans Month, a time to celebrate the contributions older Americans have made to society – and to focus attention on the many services available to older Americans as a part of the Older Americans Act. The services that we at the Pension Rights Center are most proud of are those provided by […]
Dancing through retirement
I was struck by a recent Wall Street Journal article about a new craze overtaking China: retirees all across the country are “getting down,” having dance parties in parks, courtyards, and other public spaces in order to have fun and stay in shape. In an ironic turn, the article says that the music and the […]
Corporate titans campaign to increase workers’ pay and pensions
April 1, 2014 – Many of the country’s highest-paid CEOs have decided to give up their exorbitant compensation packages to pay their workers better wages and higher pensions. This announcement comes as part of the “Corporations are Really Good People Campaign.” Oracle CEO Larry Ellison, whose compensation package is valued at more than $96 million, […]
March: Women’s History Month — and the Winter of Our Retirement Discontent
I typically associate the month of March with the taming of the winter just about now, when spring flowers begin to sprout, and we look forward to new beginnings. However, the month is also “Women’s History Month” – a time to celebrate women’s accomplishments in this country so that can appreciate and understand where women […]
Evaluating 401(k) Plans in a House of Mirrors
Every few months, a financial services company releases numbers touting the success of 401(k) plans. 401(k) account balances are higher than ever! 401(k) plans are working just fine! There is no retirement crisis! However, like magicians, these firms don’t want you to see what’s behind the numbers. New reports from Fidelity Investments and the Vanguard […]
Detroit: Protecting Pensioners is Key to the City
In one remarkable week in January, we saw the introduction of three proposals to expand retirement savings for the half of the workforce not covered by employer-sponsored plans: President Obama’s myRA, Senator Tom Harkin’s USA Retirement Funds Act, and Senator Bill Nelson and Senator Susan Collins’ Retirement Security Act. The merits of each proposal can […]
Dialed-up employee outcry causes AOL to dial back 401(k) changes
If you’re an AOL employee who went away for a long weekend you might have missed the hubbub about your 401(k) plan. Here’s a recap: On Thursday AOL announced that it would make its 401(k) matching contribution to workers’ 401(k) plans in one lump sum at the end of the calendar year. The outcry was […]
A big week in retirement security
Each year the State of the Union address allows the President to have a conversation with the American people while outlining his priorities for the coming year. In this year’s speech, President Obama not only acknowledged that millions of Americans are facing a retirement crisis, he announced the creation of a new savings plan for […]
