PRC In the News
Multiemployer, 4062(e) Changes Enacted, And Now It’s Time to See How It Shakes Out
Congressional negotiations over a budget bill late last year introduced a landmark change to ERISA on the law’s 40th anniversary: To preserve their multiemployer defined benefit plans, trustees and participants can now voluntarily decide whether to reduce benefits instead of waiting for plan insolvency.
Monitoring investments doesn’t end
Supreme Court is reviewing a decision on the responsibility of plans to continually watch costs
New Fiduciary Push Faces Longer Odds
A coalition of consumer-oriented public interest groups has created a website designed to mobilize public support for a uniform fiduciary standard in anticipation of a renewed push to expand the standard.
How to invest in new state-sponsored retirement plans
Illinois gets whacked plenty for its troubled public pension plan systems. But now it’s getting high praise for being the first state in the USA to offer a novel type of retirement plan, which goes into effect in 2017.
Time to close Wall Street’s “Retirement Advice” loophole
There is a loophole in the rules that govern Wall Street brokers and financial firms that provide retirement investment advice that can drain away thousands, or even tens of thousands, of dollars of hard-earned savings from a single retirement account. Today, a coalition of senior, union and consumer groups launched a new website-SaveOurRetirement.org-to mobilize support […]
Consumer groups, unions push for DOL fiduciary rule
A new coalition of labor unions and consumer advocates has formed to help generate support for the Department of Labor’s anticipated new fiduciary standard, which would make broker-dealers beholden to the high standards of care established under the Employee Retirement Income Security Act.
Coalition Petitions For Pension Advisor Fiduciary Mandate
Several of the nation’s most influential consumer and labor groups have started an online petition demanding a fiduciary obligation on financial advisors consulting with pension plans and their participants.
Organizing to Protect Our Pensions
Reckless Wall Street schemes tanked the economy and Teamster pension funds. Now Teamsters and retiree advocates are coming together to hold Wall Street accountable and take on pension cuts.
How Did It Happen? Disastrous Pension Bill Is Now Law
Congress approved pension cut legislation in a sneak attack amendment to the budget bill. The fight to protect Teamster pensions is on. Teamsters and retirees are joining the Pension Justice Campaign.
Congress punishes retirees for company lapses
When Congress passed the spending bill in December to keep the government running, a hidden provision in the act sent shivers of fear into the retirement industry. The provision allows underfunded multi-employer pension plans to reduce benefits for retirees so the government pension insurance fund won’t have to bail out the plans.
Illinois creates novel savings plan
Illinois has just adopted a unique plan to get its residents to invest for retirement — automatic enrollment in a savings program for private-sector workers whose employer doesn’t offer a 401(k) or similar plan.
Illinois Is First State With New Savings Plan for Workers
Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program.
