PRC In the News
Shortfalls sabotage promise of union retirees’ pensions
Once considered sacrosanct, many retiree pensions may no longer be secure. A change in federal law passed last year with bipartisan support would allow struggling union pension funds to cut benefits for retirees younger than 75 by as much as 60 percent.
Could these policy fixes help you save for retirement?
Despite the challenges many Americans face in setting aside enough money to finance their golden years, experts say the retirement system is not a lost cause. But a few improvements—many already in the works—could make a big difference for savers.
Two States Consider De-Risking Legislation; Insurance Lawmaker Group Adopts Guidelines
As more companies offload their defined benefit pension obligations to insurance companies in multibillion-dollar transactions, legislators in some states are starting to take notice and to consider laws that are aimed at protecting retirees.
6th Cir. Church Plan Case Against Ascension Remanded for Settlement Consideration
The first church plan case to reach the federal appellate courts is being returned to the district court to consider a proposed settlement between the parties, according to an order issued by the U.S. Court of Appeals for the Sixth Circuit (Overall v. Ascension Health, 6th Cir., No. 14-1735, 3/17/15).
8 Questions To Ask Before Taking A Pension Lump Sum Offer
When it comes to analyzing a lump sum pension offer, employees need more help. That’s the conclusion of a new Government Accountability Office report, Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits.
Significant pension cuts loom for retirees
Since Whitley Wyatt retired in 2000 after 33 years as a trucker, he’s collected a pension of $3,300 a month. Now, the 71-year-old says as much as $2,000 of his monthly check is at risk because of legislation passed by Congress last year that is meant to help underfunded multiemployer pension plans bolster their finances […]
Retirement Income Gap Projected at $7.7T
The Pension Rights Center updated its aggregate U.S. retirement income deficit figure to $7.7 trillion—up from $6.6 trillion just five years earlier—in conjunction with today’s retirement preparedness hearing by the U.S. Senate Special Committee on Aging.
Obama puts weight behind push for fiduciary standard
With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
5 Things to Know About Pension Advances
If you need money in a pinch you may be tempted to take an advance on your pension. However, if you’re not careful, you could get lured into a scam and lose the money you’ve worked so hard for.
Which are the best countries in the world to grow old in?
Pensions and healthcare benefits vary widely across the globe as do people’s perception of their happiness
DOL Fiduciary Re-Proposal Fires Up Foes, Supporters, as They Brace for Battle
Opponents and supporters of the Department of Labor’s fiduciary rule began gearing up for battle as soon as President Barack Obama said that he was throwing his support behind it.
DC execs expecting big changes from Obama push on fiduciary standard
With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.
