Is Congress setting itself up for a pension crisis?
Who wants to hear about pensions? No one. But that’s sort of the point! Yesterday, I noted that the Senate’s two-year highway bill used a few gimmicks to paper over shortfalls in gas-tax revenue. And one of those was a little-noticed tweak in pension rules that could end up being quite important.
The latest on American Airlines
Most American Airlines employees can breathe a sigh of relief (sort of), now that the company has announced that it would not seek to terminate three out of four of its pension plans as part of its bankruptcy reorganization. Rather, the company will freeze those plans, meaning that employees will stop earning benefits after a […]
Don’t Let Companies Slash Pension Payments
There is something about pensions that makes their sponsors just want to say no. For months we have been reading about cities and states failing to pay what is due into employee pension funds. Now corporate America is getting into the act.
Divorce: Splitting Up a Rich Military Pension
Dividing retirement plans in a divorce is never easy. When one spouse is in the military, it gets even harder.
Don’t ignore retirement insecurity
When American Airlines went into bankruptcy in November, our phones started ringing. I’m with the federal Pension Benefit Guaranty Corp. We insure private pensions, and American told its 130,000 employees that they would lose theirs. They called us to ask what would happen: What would they get when they retire?
Should state government offer a retirement plan for private citizens?
State government should offer a retirement plan to the increasing number of people whose companies don’t provide a pension or a 401(k) savings program, labor groups and other advocates this week told a legislative panel.
After the Storm, the Little Nest Eggs That Couldn’t
In many ways, things are looking up for America’s economy. After several years of roller-coaster-ish volatility, the Dow Jones industrial average has climbed to its highest level since the 2008 financial crisis. Economic growth, though not robust, has been gathering steam, and the unemployment rate has been inching downward, although fitfully. While economic experts voice […]
Pension Rights Center testifies in support of a Connecticut bill about public retirement plans (March 6, 2012)
Written Statement by Karen Friedman of the Pension Rights Center in Support of H.B. 5337, an Act Establishing a Task Force to Evaluate the Utility of Creating a Public Retirement PlanBefore the Committee on Aging of the Connecticut General Assembly Mr. Chairman, Members of the Committee, thank you for this opportunity to testify today. My […]
Financial planning for same-sex couples who seek to wed
Same-sex marriage, signed into law Thursday in Maryland, will bring significant changes to gay and lesbian couples here. But to their personal finances, maybe not so much.
Erie’s Saint Vincent Health Center considers pension-plan change
Saint Vincent Health System, scrambling to reverse more than $23 million in losses since 2009, wants to save money by changing its employee pension plan.
Setting the record straight: Saint Peter’s University Hospital’s pension plan
A new PRC fact sheet refutes claims made by Saint Peter’s University Hospital (SPUH) that its pension plan is a church plan and has never been subject to federal law. On Monday, SPUH president and CEO Ronald C. Rak sent a letter informing all pension plan participants that their pension, despite decades of actions and […]
American Air pension battle may spread
American Airlines wants to terminate the pensions of 130,000 workers as part of its bankruptcy proceeding. The move would be good for the company’s balance sheet, but would it be good for America?
