Hospital Workers’ Pension Plan On Life Support
Across the country, millions of employees have entrusted their retirement savings to unregulated pension plans known as church plans. Many of these plans are run by church-affiliated schools, nursing homes and hospitals.
New York State Teamsters’ pensions to be slashed because of unfair law
By Karen Friedman Last week, the news came in that workers and retirees voted in favor of pension cuts by the New York State Teamsters Pension Fund. But dig a little deeper and you’ll see that the vote results are tainted. Because if you look at ballots cast, the workers and retirees overwhelmingly voted against […]
Furniture workers pension cuts okayed despite majority no vote
Thousands of members of a pension fund for furniture workers will soon see their benefits cut, even though a large majority of those members voted against the cuts or didn’t vote at all.
DuPont offers buyouts to 9,500 pensioners
DuPont quietly offered about 9,500 of its U.S.retirees a chance to exchange their pensions for a lump-sum buyout or small monthly annuity.
St. Joseph’s Pension Fund Bankruptcy Could Be Just One of Many in RI
Church pension plans controlled by the Diocese of Providence, like the bankrupt pension fund of St. Joseph Health services, may be in distress too – but no one knows and the Diocese of Providence will not respond to repeated requests for comments.
8 states, 8 state-sponsored retirement plans
In fact, while 30 states are considering retirement plans for small business employees, eight states are already going ahead with plans to provide workers with a means to save for retirement that doesn’t depend on their employers.
Treasury Department Gives Thumbs Up to Second Pension Rescue
A pension fund in Nashville is now the second plan covering unionized workers to receive Treasury Department approval to cut members’ benefits.
Federal Treasury Department approves potential Teamster pension cuts
The U.S. Treasury Department has approved a proposal for a 29 percent pension cut for members of a Teamsters unit based in upstate New York.
Ready or not, here comes the conflict-of-interest rule!
By Jane Smith The fiduciary rule, a new Department of Labor regulation that took partial effect on June 9, 2017, requires investment advisers to provide advice that is in the best interests of their clients. The implementation of this common-sense regulation, also known as the conflict-of-interest rule, is a big win for investors. The rule […]
Another blow for heartland workers: Slashed pensions
February was a bad month for Larry Burruel and thousands of other retired Ohio iron workers. His monthly take-home pension was cut by more than half from $3,700 to $1,600.
Surprise! A lot of people are still in pension plans
By Jane Smith The newest addition to our Statistics pages reveals what some may consider a surprising fact: Nearly one-third of private-sector workers participating in retirement plans are in pension plans. Although there’s been a shift to 401(k)-type retirement savings plans, pension plans remain popular because of the security they provide to workers and retirees. […]
UPS to freeze non-union pension plan
UPS plans to freeze pensions for non-union employees, joining a parade of U.S. corporations that have altered or dumped traditional retiree payout plans.
