PRC In the News
Federal worker pensions emerge as target in debt-reduction talks
The generous pension system enjoyed by millions of federal workers from clerks to senators and judges has emerged as a key target in negotiations between Vice President Biden and congressional leaders looking to restrain the growing national debt.
Many factors forcing longer working years
A cultural shift that will have huge economic ramifications for decades is under way. A majority of the 79 million “Baby Boomers” — people born between 1946-64 in the United States — are not retiring at the traditional age of 65.
GAO: 401(k) benefits skewed
If you work for a small business, it’s likely that you don’t have access to a workplace retirement plan. That’s especially true for those on the low end of the wage scale.
Benefits Committee Can be Sued for Benefits Misrepresentation
A Mars, Inc. retiree can pursue fiduciary breach claims against the Mars Benefit Plans Committee, but not against the company, for misrepresenting the monthly retirement benefit amount to which she was entitled.
Bill Would Help Pilots Get More PBGC Benefits
U.S. Senator Daniel K. Akaka (D-Hawaii) and Congressman George Miller (D-California) have introduced the Pension Benefit Guaranty Corporation Pilots Equitable Treatment Act.
Women face extra obstacles to secure retirement
It took the collapse of her marriage to jolt Luanne Schmidt into action. After years of taking a hands-off approach toward money, the 50-year-old nurse from Lannon, Wis., only recently took charge of her finances. Her savings and retirement security, she knew, were at stake.
Pension Pro Blasts Nunes Bill at NFMA Conference
A pension expert panned federal lawmakers’ efforts to increase oversight of state and local governments’ public pension plans.
For Mother’s Day, Help Mom Get Organized
Mother’s Day is today, May 8. In addition to traditional gifts like candy and flowers, consider spending a few hours helping your mom organize her financial, legal and medical records so that she — and you — knows where she stands.
Should You Roll Over Your 401(k)?
When leaving a job, most people automatically transfer, or “roll,” their 401(k) accounts to an individual retirement account. Now, some companies are urging departing employees to leave their savings right where they are — and there could be some good reasons for doing so.
When Benefits Bite Back
The Supreme Court is set to answer a question with huge implications for workers: Are employers’ promises of benefits such as pension payments and health-care insurance worth the paper they are written on?
Groups Urge Legislators not to Disrupt Public Pension Oversight
Organizations testifying before a U.S. House panel contended that public pensions are faring better than recent reports say, and that current transparency measures are working effectively.
5 ways to make 401(k) plans more like pensions
It may feel as though 401(k)s have been around forever, but they’ve only been with us since the 1980s (okay, maybe that is forever). Until the 401(k) came along, if you had a workplace retirement plan it came in the form of a traditional defined benefit pension.
