News Room

Are you looking for the most recent retirement news?

Here you will find articles, blog posts, press releases, newsletters and more. You can read the most recent information below, and you can also search for materials on specific retirement topics by using the filters in the yellow boxes on the left.

PRC In the News
05/14/24

Bloomberg Law: Pending DOL Report to Consider Pension Risk Transfer Changes

“We look forward to seeing the report, which we very much hope will include PRC’s recommendations to strengthen protections for workers and retirees when companies transfer their pension liabilities to insurance companies,” said Karen Friedman, PRC’s executive director. “Plan participants lose a lot in these transactions—including valuable [Pension Benefit Guaranty Corporation] insurance and other ERISA […]

Blogs & Newsletters
05/07/24

PRC News, Spring 2024

  New “No conflicts” Retirement Investment Rule Rolled Out  Pension Rights Center Executive Director Karen Friedman joined other members of the Save Our Retirement Coalition at the White House in April for the Biden Administration’s announcement of a new U.S. Department of Labor rule to protect retirement income security.  The rule requires that investment advice given […]

Blogs & Newsletters
04/30/24

401(k)s Failing Most Americans, Politico Investigation Confirms

By David Brandolph The Pension Rights Center has long made the case that the U.S. retirement system is failing millions of workers who won’t have sufficient income for a dignified and secure retirement, as we’ve been reminding blog readers in recent posts. Billions of dollars in Congressionally authorized tax subsidies for contributions to self-directed retirement […]

Blogs & Newsletters
04/03/24

NIRS Study Finds Americans Support Pensions to Address Retirement Crisis

A whopping 83% of working age Americans surveyed agree that having a pension makes it more likely to have a secure retirement, the National Institute on Retirement Security found in a recent study. Without a pension, most middle-class Americans won’t accumulate enough savings to be self-sufficient in retirement, NIRS said. The survey found that 77% […]

PRC In the News
03/26/24

Bloomberg Law: Athene-Linked Pension Cases Strike at Need for New DOL Guidance

Annuity-only providers such as Athene may be uniquely prone to risks, because they lack the asset diversification individual life insurers enjoy, said Norman Stein, senior policy counsel at the Pension Rights Center, which advocates for the return of more traditional defined-benefit pensions and opposes pension risk transfers.

PRC In the News
03/25/24

Bloomberg Law: AT&T, Lockheed Suits Mark First Real Test for Pension Transfers

Labor Department guidance requires employers seek out the “safest available annuity,” Norman Stein, senior policy counsel for the Pension Rights Center, said. That standard may not be satisfied if employers opt to work with an insurance company facing significant criticism instead of one that’s universally respected, he said.

PRC In the News
03/22/24

ASPPA: Recordkeeping in the Electronic Age

Recordkeeping today is not your grandfather’s recordkeeping. Maybe not even your older sibling’s. So guidance and education from the Department of Labor (DOL) would be helpful in adjusting to the changes that have taken place, concludes a recently released report.

PRC In the News
03/22/24

NYT: Retirees’ Pensions Were Restored. Debate About It Hasn’t Died.

Cathy Green has never paid much attention to what goes on in Congress. But when she learned that a federal law would allow her pension to be cut by as much as 30 percent, she became alarmed.

PRC In the News
03/14/24

InvestmentNews: Companies transferred billions in pension assets to annuities. Here come the lawsuits

If the lawsuits progress, there’s a lot that observers might learn about how companies solicit and evaluate bids, said Norman Stein, senior policy counsel and acting legal director at the Pension Rights Center.

Blogs & Newsletters
03/07/24

PRC Supports Senate Committee in Quest to End Retirement Income Crisis

By David Brandolph The Pension Rights Center weighed in last week with the Senate Health, Education, Labor and Pension Committee, stating that both short-term incremental and long-term bold solutions must be considered and implemented if we are to help millions of Americans avoid the hardship of a financially calamitous retirement.     Committee Chair Bernie Sanders (I-VT) […]

PRC In the News
03/04/24

Forbes: One Easy Way To Boost Your 401(k) Account, Starting Now

“Participants who withdraw plan funds to cover non-retirement expenses,” notes the Pension Rights Center, “no matter how justified, are shortchanging their future. Every dollar withdrawn will no longer be in the account where it can grow tax deferred. That lost principle, combined with the loss of potential interest and investment gains over what could be […]

Speeches & Statements
02/28/24

Pension Rights Center Statement for Senate HELP Committee

The Pension Rights Center’s Executive Director, Karen Friedman, submitted the statement for the committee’s February 28 hearing titled “Taking a Serious Look at the Retirement Crisis in America: What Can We Do to Expand Defined Benefit Plans for Workers.”

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