401(k) plans regaining steam
It’s not just jobs that have been slow to come back during the economy’s spastic recovery from the Great Recession. About half of the U.S. companies that suspended contributions to their employees’ retirement savings after 2008 haven’t restored them yet.
PRC comments to EBSA on proposed amendments to regulations concerning target-date funds and QDIA (01/14/2011)
Pension Rights Center submitted comments [PDF] on the Department of Labor’s proposed amendments to the qualified default investment alternative regulation and the participant-level disclosure regulation concerning disclosure of information by target-date or similar funds.
Lay employees file suit against Diocese to protect pensions [text and audio]
The Catholic Diocese of Wilmington faces yet another legal challenge in their bankruptcy case.
Why Lump Sum Pension Payments Are a Bad Deal for Most Retirees
Traditional pensions are an endangered species in the private sector. But if you’re lucky enough to have one, you may face a choice at retirement: Take the money as a lump sum, or as a monthly lifetime annuity-style payment?
PRC Letter to the IRS regarding the faulty definition of “active participant” in 401(k) plans
August 5, 2010: The Pension Rights Center sent a letter to the IRS, asking it to revert back to a definition of an “active participant” in 401(k) plans that is accurate and useful.
Letter from PRC and other organizations to the U.S. Senate regarding 401(k) fee disclosure provisions in H.R. 4213
June 15, 2010: The Pension Rights Center and seven other organizations sent a group letter to members of the U.S. Senate, urging them to restore provisions to H.R. 4213 that would make 401(k) fees more transparent and straightforward.
Give all Americans a secure retirement
Thanks to the big expansion of Social Security in the 1970s and the growth of employer pension plans, many Americans have retired, grown old and still managed to remain part of the middle class. But the system is eroding because of the change in the way pensions are delivered.
OPM pension errors force thousands to pay up
Due to its own errors, the Office of Personnel Management for nearly five years undercharged thousands of federal employees for pension contributions. Now, OPM is demanding they immediately pay — in some cases thousands of dollars — to correct their pension accounts.
Retirement Looms: Time to Get Nervous
Now that baby boomers are starting to hit the official retirement age, they face a variety of financial headaches that previous generations avoided
Statement by Karen Friedman, Executive Vice President, on the Failed Deficit Commission Vote
WASHINGTON – Following the failure of the National Commission on Fiscal Responsibility and Reform to get the votes necessary for its recommendations to be voted on by Congress, Karen Friedman, executive vice president of the Pension Rights Center, issued this statement: “Social Security has been saved from the unnecessary cuts that the deficit commission had […]
Groups Reveal U.S. Retirement Income Deficit at Launch of Campaign to Make Retirement Crisis a National Priority
WASHINGTON – The magnitude of the nation’s retirement income crisis was revealed at a press conference in Washington, D.C., today, with the release of the Retirement Income Deficit – the gap between the pensions and retirement savings that American households have today and what they should have today to maintain their living standards in retirement. […]
“401(k) Fee Disclosure is as American as Apple Pie,” Pension Rights Center Says at Capitol Hill Event
WASHINGTON – The Pension Rights Center joined Congressman George Miller (D-Calif.), Congressman Rob Andrews (D-NJ), AARP, and other groups today at a press conference calling on the Senate to restore 401(k) fee disclosure provisions to the American Jobs and Closing Tax Loopholes Act of 2010 (H.R. 4213). “The 401(k) fee disclosure provisions are critical to […]
