U.K. companies are required to enroll workers in retirement plans — and it’s helping them save more
Saving for retirement in the United Kingdom has become a given.
Multiemployer pension plans need saving
I have frequently written of the potential difficulties facing those preparing for retirement who do not have the advantage of a defined-benefit pension. Today I’d like to address a different crisis: the potential insolvency of pension funds that cover millions of people who have lived, worked and planned their retirement on the assumption that their […]
Op-Ed: Social Security isn’t in crisis. It just needs a tune-up
Eighty-four years ago Wednesday, President Franklin D. Roosevelt signed Social Security into law. He advised future generations to continue building on the program’s foundation, which he explained “represents a cornerstone in a structure which is being built but is by no means complete.”
Retired Teamsters wait for Congress to act on wobbly pension fund
Roger Spencer uses part of his pension check from the failing Central States Pension Fund to buy a lifesaving cancer drug that costs $500 a month.
Companies are racing to dump their pension plans
The younger you are, the less retirement security you’re likely to have, as employers accelerate efforts to shed costly pensions and replace them with alternatives that make workers shoulder more of the risk and responsibility.
U.S. House passes Butch Lewis Act
The U.S. House of Representatives passed HR 397 July 24 on a bipartisan vote of 264-169. All 235 House Democrats voted for the bill, as did 29 Republicans. The bill now moves to the Senate, where it faces a difficult road.
Senate to Deal with Union Pension Crisis After House Passes Butch Lewis Act
Out to save the retirement plans of over 1.3 million pensioners, the US House of Representatives passed legislation that seeks to address a nationwide multi-employer pension funding crisis by providing low-interest loans to help fund the institutions.
Statement of the Pension Rights Center on permissive transfers of uncashed checks from ERISA plans to state unclaimed property funds before the ERISA Advisory Council (August 28, 2019)
PRC Policy Analyst Jane Smith testified before the ERISA Advisory Council on permissive transfers of uncashed checks from ERISA plans to state unclaimed property funds. She said, [A]lthough State unclaimed property programs are very helpful to individuals who have lost track of non-retirement assets, they are not the best arrangement for people who have earned […]
The Pension Rights Center (PRC) Provides Free Legal Assistance to Singles & Couples Who Have Earned Retirement Benefits
The Short Version: Retirees face many unknowns, but their monthly incomes shouldn’t be one of them. Since 1976, the Pension Rights Center has developed useful resources to ensure Americans know what to expect when they’re ready to retire. The PRC’s online fact sheets and counselor directory can help individuals, couples, and families get answers to […]
Social Security turns 84!
By Emily Gilbert During a week of volatility in the stock market, retirees are happily celebrating the 84th birthday of the Social Security System—a universal social insurance program that guarantees their benefits no matter what direction their 401(k) or personal investments are heading. Since 1935, Social Security has been the cornerstone of the retirement income […]
Central States pension fund continues to bleed as Congress debates aid
The finances of the Central States Pension Fund continue to deteriorate as Congress debates whether it should shore up the fund and other struggling multi-employer pension funds.
Butch Lewis Act passes House, reintroduced in Senate
By Karen Friedman Yippee! Congratulations to everyone! The Butch Lewis Act passed the U.S. House of Representatives last night. And I had the privilege of sitting upstairs in the House Gallery of the Capitol watching the debate with hundreds of activists, including Rita Lewis, who is the widow of Butch, the bill’s namesake, as well […]
