PRC News, November 24, 2020
As Thanksgiving approaches, we want to wish you and yours a warm and safe holiday. Although traditions may have to change this year, what won’t change are the Pension Rights Center’s untiring efforts to protect and promote retirement security for workers and retirees and their families. Below you will read what we’ve been up to […]
Pension Rights Center Aims to Protect the Retirement Security of Millions of Americans Through Resources and Advocacy
In a Nutshell: Pensions help supplement the Social Security income of millions of retirees each year and were supposed to be paid out in full when a worker reached retirement. However, many workers who are owed benefits have found them dramatically reduced, or denied altogether.
Transfer of Power
In March, Truckee-based Mountain Hardware and Sports was up against the toughest test of its 43-year record of no layoffs. As the economy was going into a deep freeze, company president Doug Wright sent a letter to his staff on March 17.
The spectre of pension failures haunts this election
It’s imperative that a new COVID-19 relief package — whenever it’s passed — shore up multiemployer pensions (retirement plans negotiated by a union with two or more employers), because if this piece of the retirement system is allowed to collapse, it would not only hurt current and future pensioners, it would deal an outsized blow […]
Few powering up with electronic disclosure
When the Department of Labor finalized a rule in May that permitted default electronic delivery of retirement plan disclosures, record keepers and plan sponsors welcomed the move by saying it will increase participant engagement and cut mailing costs.
How to Find a Lost Pension Plan
Some people lose track of their pension plan from an old job. A company might merge with or be bought by another company and change its name, move to a new location in a different city or go out of business.
How to Choose Between a Pension and Lump Sum Payout
In the midst of a COVID-19-induced sales slump, Honda recently offered early retirement to some of its U.S. workers 55 and older.
Retirement Savers Could Be Put At Risk By Proposed Rollover Rule, DOL Warned
Retirement savers could be put at risk by a proposed Department of Labor rule on workplace retirement plan rollovers and lump sum distributions, DOL was warned today.
PRC News, August 28, 2020
Fixing the multiemployer crisis is more urgent than ever. The Treasury Department recently rejected an application from the American Federation of Musicians and Employers Pension Fund (AFM-EPF) to cut benefits under the Multiemployer Pension Reform Act (MPRA). Read our press release on the rejection, where Karen Friedman said, “Now [these retired musicians] can breathe a […]
The Savings Game: New retirement plan disclosure regulation not in consumer interest
On July 27, a new anti-consumer Labor Department regulation went into effect. The new rule gives retirement plans the right to quit mailing workers and retirees important disclosures on paper and simply send a notice by text or email telling them that key pension information is available on a website. Then it is up to […]
Housing As A Solution For The Retirement Crisis
There is a retirement crisis in the United States. We know this. What we don’t know is how to solve it. There are three pillars to retirement in the United States; your home, retirement/pension plans and social security. Independently, none of these are adequate for the average American.
Treasury Department rejects application by musicians’ pension fund to cut benefits – saving retirees’ pensions. Now it’s up to Congress to act!
Musicians across the country are cheering the U.S. Treasury Department’s decision Tuesday to reject the application filed by the Trustees of the American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) to reduce their benefits. The Pension Rights Center joined more than 180 retired musicians, who were facing 40 percent cuts, in urging the Treasury […]
