PRC Statement to the ERISA Advisory Council on retirement plan disclosures (June 7, 2017)
PRC Policy Analyst Jane Smith testified before the ERISA Advisory Council on the improvements to the effectiveness of retirement plan disclosures to participants and beneficiaries. In her testimony, Jane noted that plan disclosures to participants are often confusing and written in technical language that is difficult for participants to understand. Addendum to 2017 statement.
Supreme Court Ruling Imperils Pension Protections
In a blow to the hundreds of thousands of employees of religiously-affiliated hospitals, schools and social services organizations, the U.S. Supreme Court said that their pensions might not be protected by federal ERISA laws.
Hospitals’ Pension Win at High Court Might be Short-Lived
Three religious-affiliated, nonprofit hospital systems won reprieves from multimillion-dollar class actions Monday in the U.S. Supreme Court. But that relief may not be long-lasting.
Supreme Court says religious hospitals don’t have to comply with federal pension protections
Employees of religious hospitals — including St. Peters University Hospital in New Brunswick and the now defunct St. James Hospital in Newark– were dealt a blow by the U.S. Supreme Court Monday.
SCOTUS Sides With Religious Hospitals in Church Plan Dispute
Religiously affiliated hospitals can run their pension plans as church plans exempt from federal funding requirements, the U.S. Supreme Court ruled.
U.S. Supreme Court’s “church plan” decision leaves key issue undecided
WASHINGTON – The U.S. Supreme Court ruled today that pension plans with ties to religious organizations may not have to comply with federal pension law. Today’s ruling leaves it to lower courts to decide whether hundreds of thousands of people who thought they were guaranteed federal protections will receive the pensions they earned. “Today’s ruling […]
Despite setback, Illinois still planning to roll out Secure Choice retirement savings plan
Some years after starting a T-shirt and promotions business in 1981, Bob Chambers thought about ways to keep his employees invested in his company. One of the things he thought of was offering a retirement plan for employees who wanted to participate in putting money aside for their retirement.
How to Find an Old Pension or 401 (k) Account
It’s easy to lose track of a 401(k) or pension plan over the years. Ordinarily the best way to recover those missing retirement assets is to contact the former employer’s human resources department. But what if that employer insists that you cashed out your retirement plan long ago or rolled it into a different retirement […]
Now to save coal miners’ pensions
The pension crisis threatens almost 120,000 miners and widows, including 9,000 in Kentucky, and will be thornier than health care to fix because it’s part of a wider problem.
Union pension crisis threatens retirement funds
John Raffiani’s retirement didn’t last long. Facing a steep cut in his Teamsters trucking pension, the 70-year-old Greene County man went back to work more than a year ago after a short time away from full-time labor.
Lawmakers Introduce Legislation to Stop Multiemployer Plan Benefit Cuts
Senator Bernie Sanders (I-Vermont) and Representative Marcy Kaptur (D-Ohio) introduced legislation, The Keep Our Pension Promises Act, which would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multiemployer pension plans.
Retirees to Congress: Protect Our Pensions!
Senator Bernie Sanders and Rep. Marcy Kaptur Reintroduce Bill to Save Retiree Pensions WASHINGTON – The Pension Rights Center joins retirees, members of Congress and others in declaring today a Day of Action to call attention to the threats to the retirement security of millions of workers and retirees covered by the financially-troubled multiemployer pension […]
