“De-Risking” Pensions Could be Risky to Pensioners
WASHINGTON — In the wake of moves by several large companies to “de-risk” their traditional pension plans, the Pension Rights Center is calling for a moratorium on such actions until Congress can look into the risks posed by these strategies to workers and retirees. Just yesterday, Verizon joined GM in announcing that it is transferring […]
Verizon-Pru deal the latest move to reduce pension liability
Some 41,000 retired managers of Verizon Communications Inc. soon will be receiving their monthly pension benefit via an annuity payment from Prudential Financial Inc.
Companies that are offering lump-sum pension buyouts
One of the most recent developments in the defined benefit pension plan field is the move of employers to offer certain plan participants, especially former employees not yet receiving benefits, the opportunity to convert their future monthly annuity into a cash lump-sum payment.
Retirees take some lumps from lump-sum offers
Former employees tempted by pension buyouts, but most better off with income stream
Companies with lump-sum pension offers
A slideshow of companies that are offering lump-sum pension buyouts
Companies pitch lump sums to dig out of pension holes
Former longtime employees of two big Atlanta companies recently got an intriguing offer – a check for tens or even hundreds of thousands of dollars.
Decline in pension plans leaves many Ohioans unprepared
Fewer Ohio businesses are offering defined-benefit pension plans, as employers attempt to reduce future funding obligations and shift retirement liabilities to workers.
California Enacts Groundbreaking Pension Legislation
The Pension Rights Center and the Schwartz Center for Economic Policy Analysis (SCEPA) join in applauding Governor Jerry Brown for signing into law the California Secure Choice Retirement Savings Trust Act. The Act, championed by Senator Kevin de Leon and Senate President Pro Tem Darrell Steinberg, lays the groundwork for a broad-based, state-administered retirement savings […]
Pension Rights Advocates Urge Caution In Altering Rules on Deferred Vested Benefits
Pension rights advocates are concerned that a proposed Treasury Department and Internal Revenue Service regulation would delegate authority to the IRS commissioner to create special rules for satisfying notice requirements related to deferred vested benefits. [PDF]
NFL sacks referees’ retirement security
If you’re a sports fan, chances are that you’ve heard about the standoff between the NFL and its referees. The impasse, resolved on Thursday, resulted in three weeks of officiating by replacement referees who, according to some, fumbled more calls than the players. For many, this would have been the news. However, we at the […]
PRC letter in support of California SB 1234 (09/28/2012)
The Pension Rights Center sent a letter to California Governor Jerry Brown, urging him to sign SB 1234, a bill that would expand pension coverage by establishing a state-based retirement plan for private-sector workers. Gov. Brown signed the bill. Read the letter. [PDF]
Women face host of obstacles to retirement
When Jeanne Majors, 63, took an early retirement in December 2005, she assumed that she would pick up a part-time job and be in good financial shape. She didn’t know that her future would quickly fall apart.
