PRC In the News
Cutter Family Finances – What To Do If Your Employer Freezes Your Pension
General Electric (GE) announced earlier this month it was freezing pensions for 20,000 employees in an attempt to reduce its $8 billion pension deficit, and it’s also freezing supplementary pension benefits for about 700 workers.
Pension Rights Center Cries Foul Over DOL Electronic Disclosure Plan
The Pension Rights Center is urging the Labor Department to withdraw its proposed electronic disclosure rule, saying the plan makes it harder for workers to get the information they need to prepare for retirement and monitor their pension and 401(k) plans.
Prospects for electronic delivery sparking enthusiasm for more
The plan sponsor and record-keeper communities are thrilled with a new Department of Labor proposal that would permit default electronic delivery of retirement plan disclosures and would like to see it expanded further.
Intel Corp. Investment Policy Committee v. Sulyma to shape ERISA fiduciary lawsuits
Washington, DC — On December 4, the US Supreme Court will hear arguments in an ERISA lawsuit that may have lasting implications for the ability of plan participants to sue over mismanagement of retirement funds.
Falling interest rates wreak havoc in US pension system
Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities
Not receiving the pension you deserve? There’s help
Many people are entitled to pensions that they are not receiving. It may seem strange, but this is often because they don’t know they are eligible for a pension.
Legislation proposes new PBGC funding source from QPAM fees
Legislation aimed at giving the PBGC more money for distressed multiemployer pension funds by imposing fees on asset managers that want to keep managing retirement plan assets following criminal convictions was introduced Monday by Sen. Tammy Baldwin, D-Wis.
As GE freezes pensions, observers say employees should consider finances carefully
John Phelps gives General Electric’s current CEO, Larry Culp, the benefit of the doubt. Phelps, a GE retiree who has tangled with management over changes to the company’s retiree health plans, isn’t surprised Culp has lately focused his cost-cutting efforts on the company’s pension plan
GE’s pension freeze raises a question: Should you take a lump-sum buyout or keep benefits?
General Electric is offering about 100,000 former workers a “limited-time option” to take their pensions in a lump sum. But experts say such buyout deals may not be as good as they seem.
GE’s Not Alone: 25 Companies That Owe $1 Trillion In Pensions
General Electric is getting out of the pension business — and is just the latest company to do so. But such efforts by S&P 500 companies only go so far. They’re still on the hook for hundreds of billions in pension obligations.
Tax breaks for seniors could widen gap between CT’s rich and poor
Connecticut has just begun a seven-year program to ease the tax burden on its elderly, a process that will provide nearly $170 million in annual relief by 2025.
GE froze pension benefits for thousands of employees. Here are 5 large companies that have done the same in the past.
General Electric froze pension benefits for thousands of employees on Monday, and it’s far from the first company to do so.
