PRC In the News
The Average Retirement Income in 2022
How are you going to pay for retirement? How is everyone else doing it? What is the average retirement income for 2022? Has it changed a lot from past years as we emerge from the pandemic? Are you anywhere close to average?
Nonprofit Leader Crusaded Quietly to Protect Pension Benefits
Karen Ferguson, who has died at age 80, built coalitions in Washington and took phone calls from people struggling to obtain promised payments
Karen Ferguson, Fighter for Pension Rights, Dies at 80
She started as one of Ralph Nader’s “Nader Raiders” and, after developing an expertise in retirement systems, became a leading advocate for workers’ rights.
Karen Ferguson, founder of pension watchdog group, dies at 80
Karen Ferguson, the founder of the Pension Rights Center, a nonprofit organization that seeks to protect the interests of workers and retired people and helps promote legislation on their behalf, died Dec. 23 at her home in Washington. She was 80.
Easing Retirement Plan Notarization Could Put Women at Risk
A proposal federal regulators are weighing to end in-person retirement plan election requirements meant to protect spousal benefit rights instead could expose women beneficiaries to fraud.
Employer Reps Ask IRS For Higher Plan Correction Floor
An advocacy group representing large employers that offer employee benefits recommended that the Internal Revenue Service increase a threshold requiring corrections of pension plan overpayments.
Companies Decide the Time Is Right to Offload Pensions to Insurers
Many Americans who still have a traditional pension—the kind that pays a regular income no matter what the market does—could soon have a different company paying their benefits. U.S. companies owe current and future retirees and their beneficiaries more than $3 trillion, and many have been trying to exit the retirement business for years. Right […]
‘I’ll be robbed twice in one lifetime’: Retirees fearing financial disaster wait for pension rescue
For Carol Podesta-Smallen, the pain of a broken promise grows worse with time. The Garfield, N.J., retiree framed her first pension check, along with a picture of herself and her husband. “That was our retirement,” she says, referring to the monthly benefit she earned after 26 years as a clerical worker.
Lawmakers want to help retirement savers find their lost 401(k) and pension plans
Help may be on the way for workers who lose track of their 401(k) accounts as they move from job to job throughout their careers.
Congressional proposal would limit when retirees must return pension overpayments
For some retirees, getting a large pension payment can become a big problem. Let’s say a pension plan mistakenly has been paying a participant too much and requires the person to pay back the money, typically through reduced future payments.
IRS Again Extends Remote Witnessing for Retirement Plan Changes
The IRS has extended through June 30, 2022, remote notarization relief that gives retirement plans greater flexibility for participant elections that require a witness, such as 401(k) loan applications and spousal consent to changes in the distribution of survivor’s pension benefits.
The Savings Game: Congress needs to help pensioners find their money
For years, members of Congress have been trying to pass legislation that will allow the federal government to establish a centralized database to help retirees locate their pension and 401(k) plans.
