Congress uses $1.9 trillion relief plan to rescue multiemployer pension plans
It looks like Congress has finally come to the rescue of troubled pension plans that provide benefits to more than 1 million truck drivers, grocery store workers, construction workers and other union jobs.
Time to Celebrate! Congress Passes Legislation to Protect Retirees’ Pensions
For Immediate Release Contact: Karen Friedman, 202-296-3777 March 10, 2021 www.pensionrights.org The Pension Rights Center and workers and retirees across the nation are celebrating the passage of the Butch Lewis Emergency Pension Plan Relief Act, as part of the $1.9 trillion Covid-19 aid package. The Butch Lewis Act will protect the hard-earned benefits of […]
Letter to the Employee Benefits Security Administration about the Department of Labor’s Notice and Access Rule
PRC signed on to a letter, with several other organizations, sent to the Employee Benefits Security Administration (EBSA) to urge the Department of Labor (DOL) to undertake a rulemaking to address the severe shortcomings in the Department’s recently adopted “Notice-and-Access” rule and to ensure adequate protections for workers and retirees regarding retirement plan disclosures.
The COVID relief bill could help put an end to another dire crisis
After years of failed attempts to bolster struggling multi-employer pension funds, help finally may be coming through via the Democrats’ $1.9 trillion Covid relief bill.
$81.2B Rescue For Union Pensions Greenlit For COVID-19 Bill
A Senate official has confirmed that Congress can include a fix for the $81.2 billion union pension funding crisis in its coronavirus relief bill, which is moving through Congress via a special fast-tracked process reserved for budget-related legislation.
COVID-19 Relief Bill Could Rescue Union Retirees’ Pensions
The COVID-19 pandemic relief legislation set for a vote this week in the House contains a provision to save struggling union pension plans that experts say has a good shot at passing, forecasting a possible end to a $65 billion funding crisis that threatens one million retirees’ pensions.
Prospects Brighten for Much Needed Pension Rescue Bill as It Heads to House Floor Vote
By David Brandolph The House Ways and Means Committee significantly boosted the prospect for passage of much needed pension relief that would protect the hard-earned and promised benefits of active and retired truck drivers, nurses and health care workers, plumbers and construction trade workers – people who we now recognize and honor as America’s essential […]
PRC News, February 19, 2021
Wow…Our 45th anniversary is here! Forty-five years ago this week, consumer advocate Ralph Nader handed Karen Ferguson a key to an office, a check for $10,000 and told her to “make pensions an issue.” And with those four words, the Pension Rights Center was born. With gumption and a vision for a future where all […]
Why We Need a New Approach to Retirement Income Planning
If you are feeling nervous about funding your retirement, you’re not alone. A survey of more than 3,200 baby boomers by financial firm Allianz found that more than 6 in 10 baby boomers feared running out of money before they died more than death itself. The reason for this anxiety is that retirement has changed significantly over […]
Welcome Labor Department Guidance on Missing Participants
By Jane Smith Recently issued Department of Labor guidance is an important step toward resolving the “missing participants” problem. Following several years of investigating how plans do, or do not, stay in touch with former employees who are due benefits, in January 2021, the Labor Department published a best practices guide for pension and retirement […]
PRC letter to the Committee on Ways and Means in support of the Butch Lewis Emergency Pension Plan Relief Act of 2021
PRC sent a letter to the Committee on Ways and Means expressing our support for the Butch Lewis Emergency Pension Plan Relief Act of 2021.
Pension Solvency Relief Gets Fresh Shot in Democratic Congress
Saving underfunded pension plans from bankruptcy has a better chance of coming to fruition now that Democrats control both the White House and Congress.
