Press Release
Pension Rights Center Calls on Retirement Plan Participants to “Ask for Paper!” in Response to New Anti-Consumer Labor Department Disclosure Rule
In response to the U.S. Department of Labor’s new anti-consumer “notice-and-access” disclosure regulation that goes into effect today, the Pension Rights Center is urging workers and retirees to tell their pension and 401(k) plans that they want to continue receiving their key retirement information on paper – not just by getting a text or email […]
Supreme Court strips workers of their right to sue for pension plan mismanagement
In a 5-4 decision issued on Monday, the U.S. Supreme Court ruled that pension plan participants have no right to sue the people running their plans for fund mismanagement. The Court’s majority opinion in Thole v. U.S. Bank holds that since most people participating in a traditional pension plan will receive their promised benefits regardless […]
New government “hide and seek” rule tells workers to hunt for retirement information on websites
In the midst of an economic collapse and at a time of heightened financial insecurity, the U.S. Department of Labor has issued a regulation that tells workers and retirees that to find information about their retirement rights they will have to hunt for it on a website. No longer will people automatically receive yearly statements […]
America needs pension relief in HEROES Act — NOT the GROW Act
With the House of Representatives poised to vote on the next COVID-19 relief package, known as the HEROES Act, the Pension Rights Center applauds the congressional leaders who have included within the massive bill the important provisions of the Emergency Pension Plan Relief Act (EPPRA) which will strengthen the nation’s multiemployer pension system. PRC, however, […]
Pension Rights Center Comments Urge Treasury Department to Flunk Musician’s Fund Application to Cut Retirees’ Pensions
The Pension Rights Center (PRC) filed comments today on behalf of a group of retired musicians who will “forever lose 40 percent of their hard-earned pensions” if the U.S. Department of the Treasury approves a proposed cutback scheme filed by the Trustees of the American Federation of Musicians and Employers’ Pension Fund (AFM – EPF). […]
Consumer advocacy group asks Labor Department to withdraw proposal that would curtail employees’ receipt of important retirement plan information
November 20— The Pension Rights Center, a nonprofit consumer advocacy organization, charges that a new proposed Labor Department regulation would undermine the rights of workers and retirees to receive critical retirement information. The Department of Labor, the agency charged with protecting workers’ and retirees’ retirement rights, should withdraw its proposed rule (Default Electronic Disclosure by […]
House Passes Bipartisan Bill to Avert National Retirement Crisis
While former Special Counsel Robert Mueller testified before Congress, the big news on Capitol Hill yesterday arguably was the boost the House of Representatives gave to hundreds of thousands of working-class American workers and retirees who have lost or will lose a major portion of their promised retirement income. The “People’s House” on July 24 […]
Three Cheers for Congressional Committee’s Vote That Paves Way for Bill Stabilizing Financially Struggling Pension Plans
The House Ways and Means Committee took a significant step today toward resolving a pending national retirement crisis affecting millions of workers and retirees. It did this by voting in favor of a bill that would provide a lifeline to financially teetering pension plans in the form of government backed loans. The committee’s 25 to […]
New Jersey hospital pensioners sue Newark Archdiocese
Former employees of Saint James Hospital filed a lawsuit on May 7 in the Superior Court of Essex County New Jersey alleging that the Archdiocese of Newark has wrongly denied them at least $2.7 million in lifetime pension benefits. The retirees’ complaint alleges that their pensions were payable for life and fully protected by federal […]
House Committee to Tackle Retirement Issues in Feb. 6 Hearing
The House Ways and Means Committee under the lead of the new Chairman Richard Neal (D-MA) will hear testimony Wednesday morning on “Improving Retirement Security for America’s Workers.” Among those testifying will be Cynthia McDaniel, the wife of a retired Missouri truck driver who suffered a near-fatal heart attack soon after learning that his hard-earned […]
Consumer group urges special congressional committee to develop solution to multiemployer pension crisis
As a result of a misguided law passed in 2014 to ostensibly “save” pension plans, the Treasury Department announced last week that it has provisionally approved an eighth application from a multiemployer pension plan seeking to slash the benefits of vulnerable retirees as a way of balancing its books. The Teamsters Local 805 plan headquartered […]
Thousands of Workers and Retirees Head to Ohio to Protest Pension Cuts and Pressure Congress to Act
COLUMBUS, OHIO – On Thursday July 12th, thousands of active and retired mineworkers, truck drivers, warehouse workers, bakery workers and others who worked hard to earn a lifetime pension are rallying in Columbus, Ohio to urge lawmakers to protect their benefits. The rally is being organized to coincide with a field hearing that will be […]
