Unions Say Next Virus Relief Package Needs Pension Reform
Union pension funds — already ailing and facing the possibility of a faster demise in a strained economy — are pushing Congress to use the next round of coronavirus relief legislation to give them the help they need to avoid going belly up.
Estranged Couples to Fight Over Virus-Stung Retirement Funds
The coronavirus pandemic could give estranged couples something else to fight over: shrinking retirement accounts stuck in a bureaucratic limbo between courts and plan administrators.
Is My Retirement Plan at Risk Due to the COVID-19 Crisis?
By Kyle Garrett We have been following the devastating effects of the current COVID-19 crisis, and while the human cost is far more important, there is also an economic component that is affecting everyone. Many individuals have lost their jobs, businesses are on the brink of economic collapse, and our healthcare system is being stretched to its […]
Companies hammered by coronavirus pandemic look to drop 401(k) matches
A growing number of companies are reducing, or eliminating, the contributions they make to their employees’ 401(k) plans, trying to cut costs as the coronavirus pandemic wallops their profits and revenues.
Companies slammed by coronavirus look to cut contributions to their employees’ 401(k)s
More corporations are looking to temporarily halt 401(k) contributions, trying to cut costs as the coronavirus crisis hits their revenue and profits, labor attorneys said.
Construction Company Workers Get Support in Stock Plan Appeal
The Pension Rights Center waded into a dispute involving Choate Construction Co.’s employee stock ownership plan, urging the Fourth Circuit to revive the employees’ lawsuit and recognize the “special risks” these plans pose for workers.
PRC News, March 23, 2020
You can count on PRC. All of us are dealing with how to stay safe as the deadly Coronavirus, COVID-19, quickly spreads across America and much of the globe. But while we all are hunkering down, trying to adjust to this new strange and scary reality, we want you to know that the Pension Rights […]
PRC is here for you
By Karen Friedman All of us are dealing with how to stay safe as the deadly Coronavirus, COVID-19, quickly spreads across America, and much of the globe. But while we all are hunkering down, trying to adjust to this new strange and scary reality, we want you to know that the Pension Rights Center is […]
Coronavirus May Disproportionately Hurt the Poor—And That’s Bad for Everyone
As COVID-19 continues to spread across the United States—infecting at least 1,000 people in more than 35 states, as of Wednesday afternoon, experts are recommending that people avoid large crowds, stockpile shelf-stable foods in case they end up quarantined, and stay home from work and contact a doctor if they are ill.
Court ruling on Intel’s DC plan sparks trepidation
The recent Supreme Court decision on Intel Corp. giving defined contribution plan participants more time to file ERISA claims unless they have “actual knowledge” of the plan sponsor’s investment decisions and actions is prompting questions about litigation risk, options for sponsors to protect against it, and even whether alternative investments should be an option.
Group argues musicians union MPRA application should be denied
An application by the American Federation of Musicians and Employers’ Pension Fund to reduce benefits to prevent insolvency does not distribute cuts properly and should be denied, the Pension Rights Center in Washington said in comments filed with the Treasury Department.
35 Retirement Planning Mistakes That Waste Your Money
Retirement planning is no easy task. Not only do factors like salary, debt and expenses all affect your ability to save, but there’s also no one-size-fits-all solution to realizing the vision of your golden years.
