PRC In the News
12/17/13|Bloomberg BNA Pension & Benefits Reporter

House Approves Budget Agreement That Includes Hikes in PBGC Premiums

Defined benefit plan pension insurance premiums would be increased by Congress for the second time in less than two years under a new budget compromise reached by the heads of the House and Senate Budget committees, with the premium provisions projected to cut federal spending by nearly $8 billion over 10 years. [PDF]

PRC In the News
12/16/13|Pensions & Investments

Federal court rejects church plan status for Dignity Health

In the first decision among five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge found that ERISA rules do apply.

PRC In the News
12/12/13|The Thom Hartmann Program (via truth-out.org) [audio and transcript]

America’s Pensions Are Under Attack, and More

…In screwed news… America’s pensions are under attack.  Politicians, corporations, and even our courts are all chipping away at retirement benefits and promised healthcare that workers paid into throughout their careers. 

PRC In the News
12/11/13|Alternet via Salon

Retirement crisis grows as cities raid pension and health plans

Across America, states, counties and cities are taking steps that will make retirement for ex-public employees much harsher. Courts, politicans and corporations are all working together to chip away at deferred wages: reducing pensions or eliminating promised healthcare, or both. Said simply, they’re looting retirements and pushing people toward poverty.

PRC In the News
11/22/13|Daily Kos

Lord, won’t you buy me a new pension plan

Lord, won’t you buy me a new pension plan My 401(k) savings fit in a tin can I need me some money so I can survive Or I’ll be living in my old Porsche when I’m 65 The foregoing is excerpted from a speech given by Karen Friedman, Executive Vice President and Policy Director of […]

PRC In the News
11/22/13|BenefitsPro

Coalition working to expand retirement security for uncovered

A coalition of large retirement industry players, including the AARP, American Federation of State, County & Municipal Employees, Service Employees International Union and Pension Rights Center, have banded together to find new ways to build retirement security for even the lowest-income workers.

PRC In the News
11/19/13|Reuters

When your pension sponsor talks ‘de-risking’ – watch out

A growing number of employers are making plans to “de-risk” their pension plans. That’s jargon for reducing the financial risk posed to corporate balance sheets by pension plans – but if you have a defined-benefit pension and you start hearing that term tossed around, pay careful attention. Less risk for employers can mean more risk […]

PRC In the News
11/15/13|CNN/Money

Retired union workers facing ‘unprecedented’ pension cuts

Hundreds of thousands of retired union workers are facing pension cuts that could slash their monthly payments in half — or even more.

PRC In the News
11/15/13|MarketWatch

What to do if your pension is frozen

If you are among the few who still have a traditional defined-benefit pension plan we wish you luck. In the coming months your employer—as part of an effort to “de-risk” the plan—is likely going to offer you a lump-sum payout, an annuity, or freeze the plan.

PRC In the News
11/14/13|Heartland Labor Forum

Pilfering Your Pension [audio]

PRC Executive Vice President and Policy Director Karen Friedman appeared on the Heartland Labor Forum to discuss the retirement income crisis and the threat of unprecedented cuts to earned pension benefits. Segment begins at approximately 35:00 in the program.

PRC In the News
11/11/13|Pensions & Investments

Corporate pension execs wary of derisking fallout

Corporate executives are bracing for regulatory judgment calls on how they handle derisking through lump-sum payments and annuity purchases, lobbyists say.

PRC In the News
11/01/13|Institutional Investor

Pension Camelot?

A member of one of America’s most prominent families is taking on a crucial public policy issue: retirement. Kathleen Kennedy Townsend, the eldest daughter of Robert and Ethel Kennedy, has joined the board of the Washington-based Pension Rights Center, a nonprofit that advocates for pension security.