PRC In the News
Lost Defined Benefit Plans a Challenge For Those Nearing Retirement, Speakers Say
Pension specialists recommended June 4 that the Department of Labor’s Employee Benefits Security Administration develop a lost-plan registry to help individuals find retirement income when they have difficulty locating a former employer.
A Paycheck’s Impact on Retirement Income Benefits
Returning to work can affect Social Security benefits and pension payments, but may also let you turbocharge your nest egg.
Seniors Warned, Think Twice Before Selling Pension
The practice of retirees selling their pensions for a lump sum has drawn U.S. regulators’ attention, with two government watchdogs this month warning consumers about some of the firms that engage in the practice.
Church pension plan status being tested by IRS, class-action lawsuits
The IRS’ long-term trend of allowing church-affiliated defined benefit pension plans to be exempt from federal pension rules could reverse course after an unusual decision by the agency and a flurry of lawsuits.
Hallelujahs ring after IRS reverses church pension rule
The Internal Revenue Service may be having a bad week, but Mary Rich isn’t complaining about the taxman. The former nurse and hospital executive recently won a 10-year battle to get the IRS to reverse a ruling that would have cost her and her husband, Riz Corpuz, $2,500 a month in pension benefits from their […]
Groups Give Early Praise to DOL ANPRM On Lifetime Income as a ‘Good First Step’
The Department of Labor’s recently issued advance notice of proposed rulemaking that would require lifetime income illustrations to be included on pension benefit statements is a “good first step” toward furthering retirement income education, retirement industry groups told BNA in a series of interviews.
PBGC Reverses Prior Position as It Agrees To Pay Benefits for Shuttered Hospital’s Plan
The Pension Benefit Guaranty Corporation announced May 10 that, in a reversal of a prior position, it would pay the pension benefits for more than 800 former employees of a New Jersey hospital center that closed in 2004.
‘Triumph of justice’: 800 pensions saved after feds cover $30M shortfall for closed hospital
Christmas will come early to 800 hospital workers whose pensions were at risk of being lost by December, thanks to a federal safety net program.
PBGC to take control of hospital pension plan
The PBGC will cover the pension benefits of nearly 800 former employees of the Hospital Center at Orange, after a change in legal status.
Former Lawmaker Sees Hope in Congress For Multiemployer Plan Recommendations
Greater congressional interest in retirement policy in recent years could help a proposal that would shore up the multiemployer retirement plan system get adopted into law, former Rep. Earl Pomeroy (D-N.D.) said May 2.
New Rule Signals Kiss of Death for Pensions
A little known rule change that allows companies to contribute fewer dollars to pension funds is signaling just how meaningless the retirement vehicle has become.
Adjustable pension plan design begins to gain converts
A new pension plan design that allows employers to drastically reduce their risk while still providing lifetime income to participants is gaining support as an alternative to moving employees into a defined contribution plans.
