PRC In the News
Despite financial troubles, J.C. Penney has one of the best-funded pensions in the country
Troubled companies usually have troubled pensions, if they have pensions at all. Bankrupt giants such as General Motors Co., American Airlines Inc. and LTV Steel were hampered by billions in unfunded pension liabilities. Then there’s J.C. Penney, whose financial problems have made headlines for months. The Plano-based retailer has one of the best-funded pensions in […]
Baby Boomer Confidence Level Still Low On Retirement Security, IRI Survey Finds
Many members of the baby boom generation continue to lack confidence in their retirement outlook, according to a survey released April 8 by the Insured Retirement Institute.
401(k) rollover study triggers call for action
A new Government Accountability Office report highlighting the pitfalls of rolling over 401(k) plan accounts is sparking demand for clearer procedures and stronger consumer protections from companies and the federal government.
Union-Employer Proposal Would Hit Some Retirees
A coalition of unions and employers is proposing changes to the federal law that governs the pension plans of about 10 million people, including reducing benefits paid to retirees, the first time in four decades that such cuts would be allowed.
Twin Cities publisher agrees to pay $4.5M for pension plan failure
Augsburg Fortress Publishers will pay $4.5 million under a pending settlement to end a lawsuit over its failed pension plan.
I.R.S. Reversal on ‘Church’ Pension Plan Rescues a Fund
The Internal Revenue Service has taken an unusual step to rescue the pensions of more than 700 people whose fund was about to run out of money, but it said that their circumstances were unique and that it was not setting a precedent.
Letter to the Editor: Secure Choice plan provides saving options
If Stephen Butler understood the California Secure Choice plan, which expands retirement savings for California residents, he wouldn’t oppose it (“Time to go public on flawed state pension plan,” Opinion, March 17).
Rochester diocese pension fund falling short
Battered by years of historically low interest rates, the pension fund for current and retired lay employees of the Roman Catholic Diocese of Rochester is underfunded to the point that its obligations nearly double its assets, raising concerns about the future of those benefits.
How to Find Your Lost Pension Money
It’s not unusual for a worker to lose track of a pension benefit. Perhaps you left an employer long ago and forgot that you left behind a pension. Or maybe you worked for a company that changed owners or went belly up many years ago, and you figured the pension went with it…but you might […]
Dow Jones Hits ‘Record High’ Thanks To Strong Performances From Smoke, Mirrors Sectors
This week, amid the hullabaloo over President Barack Obama’s Deficit Dinner Diplomacy, and Sen. Rand Paul’s 13-hour filibuster-cum-dissertation on drone strikes and civil liberties, financial news-watchers touted a milestone in their lives of Market Worship. We speak, of course, of the Dow Jones Industrial Average, which on Tuesday hit an “all-time high” of 14,253.77.
The Future of Retirement: Pensions
Panelist Karen Friedman discusses the state of the “American Dream” and disappearing pensions with host Frank Sesno.
Free help to find lost pensions
The New England Pension Assistance Project, based at UMass. Boston, will counsel people on ways to track down pension benefits for which they may qualify.
