The “happiest place on earth” doesn’t have retirement security
It appears that Mickey Mouse and Donald Duck may find themselves in deep trouble when they retire. According to Central Florida’s News Channel 13, the Walt Disney Company is likely cutting its workers’ pensions* by changing the formula used to calculate benefits for current workers and by dropping pensions for new workers. Mickey and Donald […]
Don’t count on your employer for accurate pension info
A U.S. Supreme Court ruling sent an important reminder to retirees this week: you can’t necessarily rely on your employer for an accurate description of your pension benefits.
Workers pessimistic on retirement prospects
Only 78% of employees participate in a defined contribution plan when employers offer such plans, even though most workers consider a DC plan an important benefit, according to a survey by the Transamerica Center for Retirement Studies.
Read your pension’s paperwork
The U.S. Supreme Court made one thing clear in yesterday’s Amara v. Cigna decision: Employees are on their own to understand what their pension paperwork actually says.
How to Protect Your Corporate Benefits
It is no secret that corporations, over the last 20 years or so, have been reducing or eliminating corporate benefits such as pensions and health care. Corporations have the right to determine employee benefits. However, it is important for employees to take proper steps to protect the benefits they are entitled to. I will be […]
Supreme Court Decision in Amara v. CIGNA a Victory for Workers and Retirees
WASHINGTON – The Pension Rights Center released the following statement from Karen Ferguson today in reaction to the U.S. Supreme Court’s decision in Amara v. CIGNA: “This is a very important decision for employees and retirees. The Court ruled that, if pension plan trustees deliberately mislead plan participants, and the participants can show that they […]
Federal worker pensions emerge as target in debt-reduction talks
The generous pension system enjoyed by millions of federal workers from clerks to senators and judges has emerged as a key target in negotiations between Vice President Biden and congressional leaders looking to restrain the growing national debt.
401(k) rights trumped by ERISA
Court rules that plan owners must get consent of spouse to pass wealth to children
Catholic Diocese of Wilmington returns to US court
Creditors, including lay employees, abuse survivors, object to reorganization plan
Company stock isn’t best bet for employees’ retirement
Nearly a decade after Enron’s collapse, many workers still haven’t learned one of that episode’s clearest lessons: Don’t bet your nest egg on the place you work.
Benefits Committee Can be Sued for Benefits Misrepresentation
A Mars, Inc. retiree can pursue fiduciary breach claims against the Mars Benefit Plans Committee, but not against the company, for misrepresenting the monthly retirement benefit amount to which she was entitled.
Bill Would Help Pilots Get More PBGC Benefits
U.S. Senator Daniel K. Akaka (D-Hawaii) and Congressman George Miller (D-California) have introduced the Pension Benefit Guaranty Corporation Pilots Equitable Treatment Act.
