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.
Pension Rights Center Comments Urge Treasury Department to Flunk Musician’s Fund Application to Cut Retirees’ Pensions
The Pension Rights Center (PRC) filed comments today on behalf of a group of retired musicians who will “forever lose 40 percent of their hard-earned pensions” if the U.S. Department of the Treasury approves a proposed cutback scheme filed by the Trustees of the American Federation of Musicians and Employers’ Pension Fund (AFM – EPF). […]
Comments to the US Treasury Department on the American Federation of Musicians & Employers Pension Fund’s application to cut retiree benefits (March 2, 2020)
The Pension Rights Center submitted comments to the U.S. Treasury Department on the American Federation of Musicians & Employers Pension Fund’s application to cut retiree benefits under the Multiemployer Pension Reform Act of 2016. Read the comments.
Getting a divorce? Skip the roses for Valentine’s Day – and protect your pension
By Karen Friedman Valentine’s Day is for love. Except when it isn’t. What happens when love fades, the marriage crumbles, and you end up getting a divorce? Well, one piece of important advice for the broken-hearted on this Valentine’s Day is to take care of yourself financially. This is particularly important when it comes to […]
Rescue of miners’ pensions gives hope to musicians, truck drivers and other retirees
By David Brandolph Retirees around the country cheered when congressional leaders included the Bipartisan American Miners Act of 2019 in a must pass end-of-the-year federal government spending bill signed by the President. The new law provides funds to pay the pensions of 92,000 retired miners. The money will come from surplus assets held in the […]
