NIRS Report Says U.S. Gets Overwhelming Economic Benefit from Pension Payments
By David Brandolph Payments from traditional pension plans generated a staggering $1.3 trillion in U.S. economic output in 2018, according to a report recently released by the National Institute on Retirement Security (NIRS). The NIRS report, Pensionomics 2021: Measuring the Economic Impact of Defined Benefit Pension Expenditures, showed that, in 2018, some $578.7 billion in pension benefits […]
Pension Rights Center responds to the SPARK Institute’s request for Guidance on Electronic Delivery Standards
The Pension Rights Center responded to a letter from the SPARK Institute requesting Guidance on Electronic Delivery Standards. Read the full letter here.
Musicians Paul Livant and Andy Snitzer Contribute “Service Award” to Pension Rights Center
Andy Snitzer and Paul Livant, the named plaintiffs in a class action lawsuit against the trustees of the American Federation of Musicians and Employers Pension Fund (AFM-EPF), received a service award of $10,000 each when that case settled. Rather than keep their awards, which compensated them for their time and the risks they took on, […]
RRF Foundation for Aging’s president urges action to address plight of older adults
By Karen Friedman While Americans of all ages are cheering the prospect of vaccinations, the pandemic has already “put older people’s economic well-being at risk,” Mary O’Donnell, president of the RRF Foundation for Aging, said in an important and timely op-ed recently published in Crain’s Chicago Business. When the pandemic landed ashore earlier this year, many people […]
Retirement & Divorce: New Report Highlights What We Don’t Know
By Emily Spreiser In August 2020, the U.S. Government Accountability Office (GAO) published a report on qualified domestic relations orders, or QDROs. For those not familiar with what the GAO does, it’s an agency that responds to inquiries from members of Congress who want to know more about how federal tax dollars are being spent in order […]
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.
