Press Release
A tribute to retirement security hero Bob Nagle
WASHINGTON – The Pension Rights Center pays tribute to a true retirement security hero, Robert E. Nagle, who died at his home at the age of 84 on Saturday, August 16, 2014. As General Counsel of the Senate Committee on Labor and Public Welfare, Bob was responsible for crafting and securing passage of the Employee […]
Connecticut Takes a Big Step Towards Retirement Security for Its Residents
WASHINGTON – The Pension Rights Center applauds the Connecticut General Assembly for passing legislation that lays the groundwork for a new state-administered retirement savings plan for private-sector workers who do not have an employer-provided pension or retirement savings plan. “I am proud of my home state for taking a bold step toward expanding retirement coverage […]
New Law Set to Protect Pensioners in Some Religiously-Affiliated Nonprofits
WASHINGTON – On April 7, President Obama signed the Cooperative and Small Employer Charity Pension Flexibility Act into law. (P.L. 113-97). The law allows pension plans that are run by charities and cooperative associations for groups of related employers to continue to receive relief from federal funding rules under certain conditions. One condition applies to […]
Decision in Saint Peter’s “Church Plan” Case a Victory for Workers and Retirees; Lawsuit against Hospital Can Proceed
WASHINGTON – On Monday, a New Jersey federal district court judge ruled that a pension plan established by religiously-affiliated hospital is not a “church plan” exempt from the protections of federal pension law. The Honorable Michael A. Shipp denied a motion to dismiss filed by the hospital in a lawsuit brought by a former hospital […]
Pension Rights Center Applauds Senator Harkin’s New Retirement Proposal
WASHINGTON – Today the Pension Rights Center applauded Senator Tom Harkin (D-Iowa), chairman of the Senate Health, Education, Labor, and Pensions Committee, for introducing the USA Retirement Funds Act into Congress. The Senator’s bill would create a new system of privately-run retirement funds. “Senator Harkin’s creative and innovative USA Retirement Funds proposal will expand pension […]
Pension Rights Center Calls myRAs “A First Step” Leading to Comprehensive Solutions to the Retirement Crisis
WASHINGTON – The Pension Rights Center lauded the Obama administration today for recognizing the severity of the retirement income crisis by proposing a new Treasury bond to promote savings, particularly for low- and moderate-wage earners. “While myRAs are only ‘starter’ savings plans, they are an important first step in offering an easy, secure place where […]
PRC on the Detroit Bankruptcy: Allowing Cuts to Retirees’ Pensions is “Unprecedented and Unconscionable”
The Pension Rights Center released a statement reacting to Judge Steven Rhodes’ decision to permit the city of Detroit to reduce pensions by entering Chapter 9 bankruptcy: “The decision to let Detroit’s bankruptcy move forward means that Emergency Manager Kevyn Orr can proceed with his plan to cut the pensions of the city’s workers and […]
Pension Rights Center Stands with Pensioners against Proposed Cuts
WASHINGTON – The Pension Rights Center released a statement today cautioning Congress against supporting a proposal that “endorses the unprecedented and dangerous step of empowering pension plan trustees … to slash benefits of men and women who are already in retirement and have no opportunity to replace lost benefits.” The statement, distributed at a hearing […]
Kathleen Kennedy Townsend and Debra Whitman Join Pension Rights Center’s Board of Directors
WASHINGTON — The Pension Rights Center is pleased to announce that former Maryland Lieutenant Governor Kathleen Kennedy Townsend and AARP Executive Vice President Debra Bailey Whitman have joined the organization’s board of directors. Townsend and Whitman join a prestigious roster of academic, legal, and policy experts in guiding the nation’s leading consumer organization on retirement […]
Pension Rights Center Statement on Saint Peter’s Healthcare System “Church Plan” Ruling from the IRS
WASHINGTON – Last week, Saint Peter’s University Hospital employees and retirees were notified that the Internal Revenue Service had issued a Private Letter Ruling saying that their pension plan is a “church plan.” If allowed to stand, the ruling will mean that the pension plan will no longer be protected by ERISA (the Employee Retirement […]
Pension Rights Center Applauds the Pension Benefit Guaranty Corporation’s Take-Back of a Hospital Pension Plan
WASHINGTON — The Pension Rights Center applauds today’s decision by the Pension Benefit Guaranty Corporation (PBGC) to take over pension payments to more than 800 former employees of the now-defunct Hospital Center at Orange (HCO). The federal agency that insures most private pension plans has announced that it will restore insurance protections lost by HCO […]
Government Agencies Restore Protections to Hospital Retirees’ Pensions
“Church plan” designation for pension plan revoked in unprecedented action WASHINGTON — After a 10-year struggle, hundreds of former workers and retirees from the Hospital Center at Orange (HCO) once again have federal protections for their pensions. In an unprecedented move, the Internal Revenue Service (IRS) has reversed its 2003 decision to grant HCO’s pension […]
