Lawmakers want to help retirement savers find their lost 401(k) and pension plans
Help may be on the way for workers who lose track of their 401(k) accounts as they move from job to job throughout their careers.
Congress considers provisions that would limit when retirement plans can recover overpayments
By Emily Gilbert In my last blog post, I talked about how often we hear from people who cannot locate their retirement plans, and how Congress is taking steps to address this issue. Provisions related to lost retirement plans are included in legislation now pending in the Senate and House of Representatives. Two of these bills also […]
PRC comments to the PBGC on interim multiemployer financial assistance guidance
PRC submitted comments to the Pension Benefit Guaranty Coorporation on the Interim Multiemployer Financial Assistance Regulation.
Congressional proposal would limit when retirees must return pension overpayments
For some retirees, getting a large pension payment can become a big problem. Let’s say a pension plan mistakenly has been paying a participant too much and requires the person to pay back the money, typically through reduced future payments.
Congress gets closer to addressing the issue of lost retirement plans
By Emily Gilbert Here at PRC, we often hear from people who worked for a company that has since moved, been bought, or gone out of business, and they cannot find their retirement plan. The good news is that Congress seems to be getting closer to addressing this issue. In May of 2021, Senators Elizabeth […]
PRC News, July 9, 2021
Multiemployer reform: We did it! For the past seven years, the Pension Rights Center has vigorously advocated – alongside tens of thousands of retirees and dozens of allied organizations – for a solution to the multiemployer crisis. We are thrilled to report that Congress passed legislation that will save multiemployer plans, protect the benefits of […]
IRS Again Extends Remote Witnessing for Retirement Plan Changes
The IRS has extended through June 30, 2022, remote notarization relief that gives retirement plans greater flexibility for participant elections that require a witness, such as 401(k) loan applications and spousal consent to changes in the distribution of survivor’s pension benefits.
The Savings Game: Congress needs to help pensioners find their money
For years, members of Congress have been trying to pass legislation that will allow the federal government to establish a centralized database to help retirees locate their pension and 401(k) plans.
Statement of Norman Stein Before the ERISA Advisory Council Working Group on “Gaps in Retirement Savings Based on Race, Ethnicity and Gender”
Norman Stein testified before the ERISA Advisory Council’s Working Group on “Gaps in Retirement Savings Based on Race, Ethnicity and Gender.”
Comments to the IRS on the 2021-2022 Priority Guidance Plan
PRC submitted comments to the IRS on the agency’s guidance agenda for the coming year.
Senators revisit bill to create retirement account lost-and-found
A bipartisan bill to create a national online lost-and-found database for retirement accounts has been reintroduced in the Senate.
PRC letter to the Committee on Ways and Means in support of the Securing a Strong Retirement Act of 2021
PRC sent a letter to Chairman Neal and Ranking Member Brady of the House Ways and Means Committee in support of the Securing a Strong Retirement Act of 2021, particularly the provisions that address issues related to recoupment and lost retirement plans.
