PRC In the News

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]

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.

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 […]

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.

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 […]

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.