PRC In the News
1 Million American Pension Plans Could Be Insolvent In 10 Years
The federal agency that regulates the nation’s pension system issued a stark warning this week about some retirement plans.
The Most Important Symbol for Investors Is ‘DOL’
Many investors are glued the financial news, tracking the latest reports about interest rates, earnings reports and stock movements. They believe this kind of intense focus will help them maximize returns. They couldn’t be more wrong. Instead of spending time looking up a stock symbol to find out its latest price, investors would be better […]
Benefit clawbacks: Only way to avoid a pension cliff?
The reduction and even suspension of pension benefits isn’t something anyone wants. However, a growing number of financially troubled multiemployer benefit plan managers may find it to be an inescapable eventuality.
Pension crisis looms
First we had the fiscal cliff, then the highway cliff. Now get ready for the pension cliff.
What to consider when your company offers a pension buyout
The old rock of retirement income — the pension — is increasingly fading from the American economic landscape.
Senators’ De-Risking Letter Adds Weight To Growing Issue, Concerns, Observers Say
A recent letter sent by two Senate Democratic committee leaders asking several federal agencies to develop regulatory policy on de-risking pension plans adds some heft to the issue, but there are already some regulatory provisions in the law addressing their concerns, practitioners said.
Decision time for Boeing pension-buyout offer
Former Boeing employees who have not yet retired have until Oct. 31 to tell the company whether they want a lump-sum check in December or a monthly annuity payment that begins the same month, or reject both options.
PBGC Proposal to Track De-Risking Plans Seen by Pension Rights Center as Good Step
The Pension Benefit Guaranty Corporation’s recent request for comments on a proposal to require companies making pension risk-transfer offers to their employees to report such offers to the PBGC is aimed at helping the agency determine its future liabilities, but the information may also prove useful for the public, a spokeswoman for the Pension Rights […]
Retirement Plans For All? These States Say ‘Yes’
The federal government has been looking to introduce legislation designed to help workers save for retirement if they aren’t covered by an employer-provided pension plan or retirement savings plan. In the meantime, many states are taking up the charge.
Broad-Based Coalition Pushes For Updates To Retirement-Plan Advice
A broad-based coalition of labor unions and consumer protection groups has reiterated its support for the U.S. Department of Labor (DOL) to update, strengthen and clarify rules around advice provided to workers saving through retirement plans.
ERISA Has Protected Participants, but Challenges Remain
Joe Lustig of Bloomberg BNA asked Karen Ferguson about the effect of the passage of ERISA in September 1974. Ferguson is director of the Pension Rights Center and a longserving member of the Benefits Practice Center Pension & Benefits Advisory Board.
ERISA’s mid-life crisis
On its 40th birthday, plans sponsors and participants find plenty to be unhappy about.
