Congress should read new PBGC report and act fast to solve multiemployer crisis
By Karen Friedman If Congress and the Joint Select Committee on the Solvency of Multiemployer Plans need any further proof that they should act to solve the multiemployer crisis, all they need to do is read the latest report from the Pension Benefit Guaranty Corporation (PBGC). The PBGC’s 2017 Projections Report shows that the financial […]
A Stanley Cup Vision for Retirement
By Karen Friedman I went crazy with happiness last night when the Washington DC Capitals (Caps) beat the Golden Knights to capture the Stanley Cup, the beautiful silver trophy awarded to the team that wins the playoffs in hockey. The Capitals have waited 44 years for this win – and it couldn’t be sweeter for […]
Pension panic: Holland retiree told to repay $38K
When Adeline Reed received a letter from her pension fund telling her she’d been overpaid for nearly a decade, she was shocked.
Speech by Karen Friedman for United Steelworkers Rapid Response Legislative Conference (May 21, 2018)
Karen Friendman gave a speech as part of the Retirement Security Panel at the United Steelworkers Rapid Response Legislative Conference on May 21, 2018.
Pension counselors come to Washington D.C. for National Training Conference
By Emily Gilbert Last week, we held our annual National Training Conference for the U.S. Administration on Aging Pension Counseling and Information Program. There are six regional pension counseling projects across the country that provide free legal help to people in 30 states who have retirement plan problems or questions. Every year, attorneys from the […]
Joint Select Committee focuses on multiemployer basics, asks for public comments
By Karen Friedman On Wednesday, at the first hearing (and second public meeting) of the Joint Select Committee on Solvency of Multiemployer Pension Plans, one fact became abundantly clear: the problem of multiemployer plans is complex and finding a solution to the issue is also going to be a challenge. But there was a general […]
New Efforts to Make Sure Pensions Are Paid
According to the investment management company TIAA, as of 2015, a full 30 percent of employees had abandoned a retirement account from a previous employer. The Government Accountability Office recently reported that from 2004 to 2013, more than 25 million employees left at least one retirement account behind.
Senate Lost and Found bill would help many retirees but would harm others
By Jane Smith Originally introduced in 2016 by Senators Elizabeth Warren (D–MA) and Steve Daines (R–MT), the Retirement Savings Lost and Found Act of 2016 (S. 3078) would have been a great help to the many retirees who are now searching for their earned retirement benefits. The Pension Rights Center wholeheartedly supported that bill. Unfortunately, […]
Joint Select Committee starts process to save multiemployer system
By Emily Gilbert Today I went to the first public meeting of the newly-formed Joint Select Committee on Solvency of Multiemployer Plans. Based on the comments of Committee members we are hopeful that they will put aside their differences and work in a bipartisan fashion to develop a fair and comprehensive solution to the multiemployer […]
With pension plan out of money, Diocese retirees worry
Employees of the Diocese of La Crosse, Wis., had faith that their pension plan would help them retire.
Lay employees lament Diocese of La Crosse’s decision to end their pension plan
At age 70, George Fugina was hoping to retire for good this year. After working for 31 years as head custodian for St. James the Greater Catholic Church and then picking up a part-time custodial job at the Eau Claire YMCA, Fugina was ready to take it easy and live off his pension, savings and […]
The Government Wants to Help You Find Your Missing 401(k)
As Americans worry about being able to afford retirement, billions in unclaimed retirement funds sit neglected in lost or forgotten accounts.
