PRC In the News
Early Tap of 401(k) Replaces Homes as American Piggy Bank
Premature withdrawals from retirement accounts have become America’s new piggy bank, cracked open in record amounts during lean times by people like Cindy Cromie, who needed the money to rent a U-Haul and start a new life.
Taking Charge: You can get help unraveling your pension benefits
The New England Pension Assistance Project is featured in this column, in which a reader asks for advice on getting information on his or her retirement plans.
IRS Rollover Guidance Eases Process, Improves Benefit Portability, Analysts Say
When changing employers, individuals and their new retirement plan administrators have faced a time-consuming administrative process in proving the tax status of a plan rollover. And instead of dealing with the hurdles to validate a rollover, many individuals would transfer savings into individual retirement accounts or cash out the balance.
Thought Secure, Pooled Pensions Teeter and Fall
The pensions of millions of Americans are being threatened because of trouble in a part of the retirement world long considered so safe that no one gave it a second thought.
Federal judge: Saint Peter’s pension case can proceed
A New Jersey federal district court judge recently ruled that the pension plan of city-based Saint Peter’s University Hospital is not a “church plan” exempt from the protections of federal pension law.
Courts question law leaving pensions unprotected
New rulings against Catholic hospital chains on both coasts have intensified a faceoff between religiously affiliated employers and workers who are alarmed by the companies’ efforts to avoid insuring or funding their pensions.
Challenges to 2 church plans move forward
On Monday, a U.S. District Court in New Jersey dismissed a motion by Saint Peter’s Healthcare System, New Brunswick, N.J., to stop a lawsuit by pension plan participants challenging a recent ruling by the IRS that it was a church plan exempt from ERISA. The IRS determination, wrote Judge Michael Shipp, “conflicts with the plain […]
Company pension plans are healthier, but they’re still dying
This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them.
Your retirement planning checklist
Many who are planning their retirement need someplace to start — a list to begin their thinking. The information in this article is just such a list and includes links to relevant content to help in this planning.
Private sector pension de-risking and participant protections
On Nov. 5, 2013, the ERISA Advisory Council submitted findings and recommendations on pension de-risking to the Secretary of Labor. Pension de-risking transactions have received a lot of attention lately, both in the media and among sponsors of defined benefit pension plans. Therefore, this communication from the Advisory Council is an important summary of the […]
Women hit harder than men by retirement
Both men and women are facing a retirement crisis, but it disproportionately affects women, according to the Pension Rights Center. The retirement income deficit is $6.6 trillion, which is the gap between what people have currently saved and what they will need to retire comfortably. Women continue to be hit the hardest, even though more […]
