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 […]
House Passes Bipartisan Bill to Avert National Retirement Crisis
While former Special Counsel Robert Mueller testified before Congress, the big news on Capitol Hill yesterday arguably was the boost the House of Representatives gave to hundreds of thousands of working-class American workers and retirees who have lost or will lose a major portion of their promised retirement income. The “People’s House” on July 24 […]
Saving America’s Pension Plans Is A Rare Chance for Bipartisan Accomplishment
Recent studies have made news highlighting how few Americans have adequate retirement savings or pensions. But there’s an additional problem bedeviling retirement: even those who have good pensions could lose them. Scores of financially troubled pension plans are at risk of collapse, which could lead to substantial benefit cuts for up to 1.5 million Americans. […]
U.S. House Passes Pension Bailout as Democrats Eye Union-Heavy States for 2020
The U.S. House on Wednesday night passed legislation to bolster failing pension funds, an issue that Democrats are hoping will help win over voters in the Midwest’s union-heavy states for the 2020 presidential election.
PRC Letter to members of the House of Representatives in support of the Rehabilitation for Multiemployer Pensions Act (July 19, 2019)
PRC sent a letter to members of the House of Representatives urging them to vote in support of H.R. 397, the Rehabilitation for Multiemployer Pensions Act, also known as the Butch Lewis Act. Read the full letter here.
Cuts in Multiemployer Pension Plans Hurt Older Americans
For 30 years, Mary Fry’s husband, Virgil, worked in construction. The pension he earned — $3,568 per month — was guaranteed to continue for Mary if he died first. But starting in April, three years after Virgil’s death from cancer, Mary’s payments were permanently reduced by more than half, to $1,514 per month. “It was […]
