Bricklayers’ pension plan between rock and hard place; retirees face steep cuts this fall
Dana Donohew began working with brick many decades ago at the age of 12, earning $40 a week, rain or shine, next to an uncle.
US Bill Would Create Lost and Found for Retirement Savings
US lawmakers have re-introduced a bipartisan bill intended to create a national online “lost and found” for Americans to track down lost retirement accounts as they move between jobs.
Legislation offers hope for finding lost pensions
By Kyle Garrett In my 15 years at the Pension Rights Center my primary responsibility has been helping people get assistance with their pension problems. The most frequent question I get from callers is, “I worked for a company for a number of years and now that company is gone and I can’t find my […]
A helpful guide for people awarded retirement benefits at divorce
By Emily Gilbert There is now a helpful new guide for individuals who are going through a divorce and have questions about dividing retirement benefits. The guide – created by the Pension Rights Center, the National Council of Juvenile and Family Court Judges’ Resource Center on Domestic Violence: Child Protection and Custody, and the National […]
Pension plan fiduciaries get relief from Supreme Court
Defined benefit plan sponsors worried about fiduciary breach lawsuits welcomed a June 1 Supreme Court decision that significantly raises the threshold for when participants have standing to sue, while participant advocates fretted over what they see as a loss of long-standing protections.
As insurance companies take over pension plans, are your payments at risk?
How safe is your pension? As COVID-19 shutdowns hobble the U.S. economy, the question has taken on more urgency.
Are public pensions doomed because of the coronavirus pandemic? State, local budgets feel pain
Corey Shelton, an eighth grade science teacher in Jackson, Michigan, has earned a pension after more than 20 years on the job, but now he’s concerned that the economic devastation from the coronavirus pandemic will threaten the monthly checks he’s been counting on to fund his retirement.
Where to Check Up on the Health of Your Pension Plan
I will be eligible for a pension when I retire, but the markets and the Covid-19 outbreak have me worried about the health of my retirement plan. How can I figure out where my pension stands? A lot of help is available. But rules governing how employees are kept informed about their plans are changing, […]
Pandemic Puts More Stress On Struggling Pension System
The coronavirus outbreak has presented daunting challenges for an already-struggling multiemployer pension plan system.
Supreme Court strips workers of their right to sue for pension plan mismanagement
In a 5-4 decision issued on Monday, the U.S. Supreme Court ruled that pension plan participants have no right to sue the people running their plans for fund mismanagement. The Court’s majority opinion in Thole v. U.S. Bank holds that since most people participating in a traditional pension plan will receive their promised benefits regardless […]
PRC News, June 3, 2020
Both our policy and legal teams have been super busy during the COVID-19 emergency. Our legal program has been hard at work answering your questions and helping people get the benefits they have earned. Our policy team has been working to ensure that new legislative and regulatory proposals protect rather than undercut your rights. Here’s […]
New government “hide and seek” rule tells workers to hunt for retirement information on websites
In the midst of an economic collapse and at a time of heightened financial insecurity, the U.S. Department of Labor has issued a regulation that tells workers and retirees that to find information about their retirement rights they will have to hunt for it on a website. No longer will people automatically receive yearly statements […]
