U.S. Weighs In on Supreme Court Consideration of Pension Case
The U.S. Solicitor General and the Pension Rights Center have filed briefs of Amicus Curiae with the Supreme Court in Thole v. U.S. Bank, a pension-focused case arising under the Employee Retirement Income Security Act (ERISA).
Pension crisis could be looming for at least a million retirees of religious organizations
For Catholic-affiliated organizations alone, about 1 million pensioners are now estimated to be at risk of having reduced or zero pension benefits due to a federal law that exempts religious organizations from providing regulated and guaranteed pensions.
St. Clare’s retirees take action to protect their pensions
By Kyle Garrett As the Pension Rights Center’s Operations and Referrals Manager, I hear from thousands of individuals each year. Over the past decade, many of these calls and e-mails have come from people who worked for religiously affiliated hospitals, schools, and social services agencies. These individuals – former orderlies, executives, nurses, social workers, and […]
Your pension plan benefits may not be as ironclad as you think
If you’re fortunate enough to have a pension, there’s a certain relief you may feel that no matter what, when you retire, you’ll get a set amount of money every month for the rest of your life.
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 […]
