PRC In the News
Lawmakers Introduce Legislation to Stop Multiemployer Plan Benefit Cuts
Senator Bernie Sanders (I-Vermont) and Representative Marcy Kaptur (D-Ohio) introduced legislation, The Keep Our Pension Promises Act, which would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multiemployer pension plans.
Senate Kills State-Sponsored Retirement Plans For Private Sector Workers
In a narrow vote, 50 (yes) to 49 (no), the Senate by resolution killed an Obama-era rule that greenlighted state-sponsored auto-IRA retirement programs for small business workers.
Pensioners Fight Back Against Cuts
The Pension Rights Center’s Karen Friedman discusses a new pension law that could negatively impact millions of retirees.
Flurry of Pension Rescue Filings May Indicate Renewed Confidence
Four more financially beleaguered multiemployer pension plans are testing the rescue application waters, seeking Treasury Department permission to cut benefits.
How to Track Down a Lost 401(k) or Traditional Pension
Hundreds of millions of dollars in 401(k) retirement account and traditional pension plan assets are going unclaimed. These days it’s not uncommon for workers to change employers 10 times or more over the course of a career—and all that job hopping can make it tough to keep tabs on employer-sponsored retirement plans.
20,000 Union Members, Retirees at Risk of Losing Pension Benefits
“The guy who worked harder got hit the hardest,” Wargo said. “If you could prove that it [the cuts] would keep the plan solvent for 100 some odd years I’d take it, but it’s baloney. There are other ways this could have been mended instead of singling out a group of people.”
Teamsters get a reprieve from pension cuts
Thousands of upstate retired Teamsters have dodged a potential pension cut, at least for now, thanks to a recent decision by the federal government.
OP-ED: Why U.S. Supreme Court must stand up for retired Americans
Hospitals that masquerade as religiously affiliated institutions do their employees and themselves a grave disservice.
Hospital Pension Plans Seek Salvation at SCOTUS
The oral arguments at the U.S. Supreme Court over the ability of religiously affiliated hospitals to treat their pension plans as “church plans” amounted to a 60-minute catechism on statutory interpretation and legislative history.
Senate overturns rules to help cities offer retirement plans to workers
In a 50-49 vote, the Senate quashed Labor Department rules from the Obama administration that would have made it easier for cities to provide government-run retirement plans to private sector workers.
In absence of help from archdiocese, N.J. pensioners put faith in U.S. Supreme Court
While adversaries argued in front of the U.S. Supreme Court last week, 79 people who once worked at St. James Hospital in Newark watched the clock. Tick-tock. Tick-tock.
PBGC girds for pending union plan catastrophe
Only one struggling multiemployer pension fund has landed on the doorstep of the Pension Benefit Guaranty Corp. so far after failing to win Treasury Department approval to reduce benefits, but the agency’s dire financial condition has officials predicting painful cuts for more than 1 million multiemployer plan participants projected to need its help.
