Kline proposes more flexible benefits as part of pension reform
Rep. John Kline of Minnesota has proposed a new pension reform law that he said can save troubled multi-employer retirement plans from dissolution or insolvency by making benefits more flexible.
DuPont pension choice: ‘The company has scared everybody’
The DuPont Co. has told 18,000 former workers they have from Sept. 12 until Oct. 21 to trade their future pensions — for up-front cash, or for an earlier but smaller monthly annuity — instead of waiting until they reach retirement age to collect traditional pension checks.
Does California’s Secure Choice Retirement Have Staying Power?
A large swath of the nearly 7 million Californians working in the private sector without access to a retirement plan will soon be able to sign up for one. Or, to be more accurate, they will be automatically enrolled with the right to opt out of the new Secure Choice Retirement Savings Program.
Draft Bill May Offer Better Mousetrap for Multiemployer Pensions
Draft legislative language that would create a controversial form of multiemployer pension plan was released in the House Education and the Workforce Committee.
Multiemployer pension reforms allowing composite plans proposed
Draft legislation allowing new multiemployer pension plan designs was unveiled Friday in a discussion draft released by House Education and the Workforce Committee Chairman John Kline, R-Minn.
Joint letter to Congress on threats posed by proposed “composite” multiemployer pension plans (September 8, 2016)
the Pension Rights Center joined with retiree and labor organizations by sending a letter to the U.S. House of Representatives expressing extreme opposition to draft legislation that would create a new type of pension plan called a “composite” multiemployer plan. This draft legislation would substantially weaken the funding status of currently-existing multiemployer plans, putting at […]
Uber drivers’ new option: Start a retirement account through the app
Uber has a new tool in its arsenal to attract and retain drivers: retirement savings accounts. The San Francisco ride-hailing company announced Wednesday that it teamed up with automated investor service Betterment to offer its drivers a way to set up retirement accounts through the ride-hailing app.
Guest Column: Pension fund of precipice of destruction
Few people realize a pension crisis is looming. It’s the aftershock of the 2008 market collapse. Pension funds managed by unscrupulous Wall Street Banks held the worthless real estate investments that took the markets down further than most of us had previously seen in our lifetimes. The “investments” wiped out many billions in pension funds forever.
Crowdfunding Emerging as Power to the People Pension Tool
Crowdfunding is emerging as a creative and powerful tool that pension plan participants and retirees can use to independently investigate their plans.
No Worker Left Behind
“You could argue that the 401(k) system works for many people,” says Karen Friedman, executive vice president and policy director at the Pension Rights Center in Washington, D.C. “But you also could argue that it has failed many people.”
Ten Years After, the Pension Protection Act Falls Short of Promises
Ten years ago today, President George W. Bush signed into law the Pension Protection Act of 2006. It was the largest, most comprehensive U.S. pension reform bill since the mother of them all, the Employee Retirement Income Security Act of 1974.
Trade group trying to kill bill making state-run retirement accounts a worker benefit
An investment industry trade group is trying to kill a California bill that would make retirement savings accounts an almost universal benefit for workers in the state, saying that plan will be more expensive than lawmakers anticipate and could ultimately cost taxpayers.
