Press Release
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 […]
Joint Statement Opposing “Composite” Pension Legislation
Joint Statement of AARP, the International Association of Machinists and Aerospace Workers, the International Brotherhood of Boilermakers, Musicians for Pension Security, the National United Committee to Protect Pensions, the National Retirees Legislative Network, the Pension Rights Center, the United Steelworkers, and the Western Conference of Teamsters Pension Trust Opposing Composite Pension Legislation Our organizations, representing […]
Senator Sherrod Brown and Congressman Richard Neal Introduce bills to save financially troubled multiemployer plans and protect retirees
WASHINGTON – The Pension Rights Center released letters today strongly endorsing new multiemployer legislation introduced by Senator Sherrod Brown (D-OH) and Congressman Richard Neal (D-MA). The “Butch Lewis Act of 2017” and its House companion bill “The Rehabilitation of Multiemployer Pensions Act” provide an innovative way to avoid retiree benefit reductions by providing relief to […]
U.S. Supreme Court’s “church plan” decision leaves key issue undecided
WASHINGTON – The U.S. Supreme Court ruled today that pension plans with ties to religious organizations may not have to comply with federal pension law. Today’s ruling leaves it to lower courts to decide whether hundreds of thousands of people who thought they were guaranteed federal protections will receive the pensions they earned. “Today’s ruling […]
Retirees to Congress: Protect Our Pensions!
Senator Bernie Sanders and Rep. Marcy Kaptur Reintroduce Bill to Save Retiree Pensions WASHINGTON – The Pension Rights Center joins retirees, members of Congress and others in declaring today a Day of Action to call attention to the threats to the retirement security of millions of workers and retirees covered by the financially-troubled multiemployer pension […]
Pension Rights Center statement on executive order seeking review of fiduciary rule
Ensuring that all Americans saving for retirement receive unbiased investment advice is paramount to guaranteeing their economic security in retirement. The Center believes that every American has a right to investment advice that will maximize their retirement savings rather than line the pockets of unscrupulous investment advisers. The fiduciary rule was vetted for five years […]
Cleveland Iron Workers vote to approve pension cuts: Iron Workers Local 17 becomes first plan to cut retiree pensions
WASHINGTON – Today, Cleveland Iron Workers Local 17 Pension Fund announced that its retirees will be the first in the country to face devastating pension benefit cuts as a result of the Multiemployer Pension Reform Act of 2014, which allows ongoing plans that are severely underfunded to take the unprecedented action of cutting retiree pension […]
Treasury Department approves pension cuts for Cleveland Iron Workers’ retirees
WASHINGTON – In a decision affecting more than 2,000 workers, retirees, spouses and widows, the Treasury Department announced on Friday that it had approved Iron Workers Local 17 Pension Fund’s application to cut retiree pensions under the Multiemployer Pension Reform Act (MPRA). This decision marks the first time the Treasury Department has allowed retiree pension […]
