PRC In the News

California proposal for state-run retirement plan for private-sector workers moves forward
California has taken a step closer to becoming the first state to make retirement savings accounts a near-universal benefit for workers with a plan that lawmakers hope will help ease an expected massive shortfall in retirement savings.

Retirees Nationwide Protest Multiemployer Plan Benefit Cuts
The Pension Rights Center announced that in a series of coordinated actions taking place from March 10 through 13, retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions.

Editorial: State needs to address senior squeeze
Most current retirees worked in an age when larger companies provided employees with defined benefit pension plans. When combined with Social Security, pensions allow many retirees to enjoy a comfortable old age. Despite that, according to the Pension Rights Center, half of America’s 46.2 million retirees in 2014 had an income from all sources of […]

Teamsters retirees push back against pension cuts
“I feel like I’ve been robbed,” Laxton said. “I was promised all these years that I would receive this retirement at retirement age as long as I worked the years, and now they’re telling me that they have misinvested the money. I had no idea, or I’d have stayed in the truck,” he said.

Church Plan Challengers Score Second Appellate Victory
The nationwide litigation effort accusing large hospitals of using ERISA’s church plan exemption to underfund their pension plans by millions of dollars scored its second big victory when the U.S. Court of Appeals for the Seventh Circuit ruled against Illinois-based Advocate Health Care Network.

Who will do right by the Teamsters’ broken pension promises?
Thirty years of work for a truckload of broken promises. More than 200,000 Teamsters have traveled a long road that was supposed to end with a secure retirement. Instead, decades of misdeeds and neglect have exploded into a public crisis. Now, retired union members face drastic cuts in their monthly pension checks — many by half […]