PRC letter to the U.S. House of Representatives in support of 401(k) fee disclosure provisions in H.R. 4213
May 20, 2010: The Pension Rights Center sent a letter to Rep. George Miller and the rest of the House of Representatives, expressing its strong support for provisions in H.R. 4213 that require better disclosure of 401(k) fees.
New I.R.S. rules clarify when participants can sell company stock in 401(k) plans
Dow Jones Newswires reports that the Internal Revenue Service has released rules clarifying when participants in 401(k) plans can sell company stock held in their accounts. The rules implement a provision in the Pension Protection Act of 2006 that requires 401(k) plans to allow participants to sell company stock that has been contributed as a “matching contribution.” Congress enacted this provision to protect […]
PRC letter to Senator Blanche Lincoln regarding swaps involving derivatives
May 13, 2010: The Pension Rights Center sent a letter to Senator Blanche Lincoln urging her to keep important protections for pension plans when they enter into swaps involving derivatives.
Happy Older Americans Month
May is Older Americans Month. The U.S. Administration on Aging has announced that this year’s theme for the month is “Age Strong! Live Long!” which “recognizes the diversity and vitality of today’s older Americans who span three generations.” In addition, our friends at Wider Opportunities for Women will be holding their second annual blog day on May […]
PRC comments to EBSA on a proposed rule on investment advice (05/05/2010)
The Pension Rights Center submitted comments to the Employee Benefits Security Administration on its proposed rule on the exemption under ERISA § 408(g) of certain categories of investment advice from the prohibited transaction rules. The Center suggested improvements to the rule to ensure that investment advice is unbiased and free of conflicts of interest.
PRC responds to a Request for Information from the Dept. of Labor and the IRS on lifetime income options (05/03/2010)
The Pension Rights Center submitted comments to the Department of Labor and the Internal Revenue Service in response to the agencies’ Request for Information (RFI) on lifetime income options in retirement plans. The Pension Rights Center also submitted comments with nine other organizations to the same RFI that specifically address how lifetime income options can […]
Billionaires for Retirement INsecurity
Yesterday I joined friends from Social Security Works, OWL – The Voice of Midlife and Older Women, Social Security Matters, the Alliance for Retired Americans, the Economic Policy Institute, and others outside of the Ronald Reagan Building and International Trade Center as Pete Peterson (you know him, he’s the one who is trying to scare […]
Pensions around the world
As someone who monitors the news on a daily basis, I often come across stories about retirement systems in other countries. Below are just a few of the recent articles that I thought were interesting. What can we learn from retirement income policies in other countries? Canada is studying ways to improve its retirement income system. Nearly 11 million of […]
Article by Norman Stein and Karen Friedman on pension funding relief that protects workers and retirees (04/20/2010)
April 20, 2010: In a commentary for BNA Pension & Benefits Reporter, PRC Senior Policy Adviser Norman Stein and Executive Vice President and Policy Director Karen Friedman make a case for pension funding relief that protects workers and retirees.
Brad Pitt and Angelina Jolie to adopt more children, but only if pension reform passes
Today Brad Pitt and Angelina Jolie announced that they were committed to working toward a new universal pension system to ensure that all Americans – and particularly their six children – would be able to retire with dignity. “I like building environmentally-green houses,” says Pitt, “but I think pensions are the sexiest issue in the […]
A victory for workers and retirees
In December 2009, Visteon Corp. announced that it was going to terminate its pension plans, which cover some 21,000 workers and retirees, as part of the company’s overall bankruptcy and reorganization effort. Visteon planned to dump its pension obligations onto the Pension Benefit Guaranty Corporation (PBGC), the government agency that insures private “defined benefit” pension plans. Because […]
PRC letter to the House Committee on Ways and Means calling for worker protections in funding relief legislation
March 16, 2010: PRC Executive Vice President and Policy Director Karen Friedman and Senior Policy Adviser Norman Stein sent a letter to the House Committee on Ways and Means, asking it to protect workers and retirees when marking up funding relief legislation.
