Three Recent Wins Prove Old-Fashioned Union Power Isn’t Dead Yet
Three big wins for workers in the last nine months arrived where you might least expect them: in the old, blue-collar economy. That’s the economy where unions are down to 6.7 percent, where wins are rare and workers are supposed to be on their way out.
New white paper: Employee Stock Ownership Plans: Are They Worth the Risks?
Employee Stock Ownership Plans, or “ESOPs,” are retirement plans that invest in employer stock. They are growing in popularity not only because they receive tax benefits that are not available to other types of retirement plans, but also because of their philosophical appeal: they let the employees own part or all of the company that […]
States aim to fill pension gaps with “auto IRAs”
With a push from AARP, a small but growing number of states are legislating “automatic IRAs” for the employees of their smaller businesses that don’t offer a pension or 401(k).
Heard Off the Street: PPG passing on pensions
The Pittsburgh-based paint and coatings maker announced Monday that it will unload $1.6 billion in pension obligations it owes to about 13,400 current U.S. salaried and non-union hourly retirees by purchasing group annuity contracts from Massachusetts Mutual Life and MetLife.
Teamsters are still looking at pennies on the dollar in retirement
Teamsters in Minnesota and across the country may believe they caught a break when the U.S. Treasury Department stopped cuts in their retirement pay. But the Pension Benefit Guaranty Corporation (PBGC) is now saying the government is on track to run out of money to prop up the troubled Teamsters Central States Pension Fund in […]
Ironworkers union in Baltimore wants to cut pension benefits to save fund
Now Henry finds himself out on a ledge again, but not by choice. Ironworkers Local 16, the union that represents Henry and more than 1,100 other retirees and workers in the Baltimore area, has asked the federal government for permission to cut pension benefits.
LETTER TO THE EDITOR: Getting the facts wrong about pensions
The June 21 editorial “The hard truth about pensions,” which looked at multi employer pension plans, had a couple of misguided assertions.
Daines bill would help employees track retirement accounts
Workers changing jobs would have an easier time keeping track of their retirement plans, under bipartisan legislation introduced this week by Sens. Steve Daines and Elizabeth Warren
Elizabeth Warren Brings Donuts, Introduces 401(K) ‘Lost and Found’
Senator Elizabeth Warren, D-Mass., who most recently brought (what else?) Dunkin’ Donuts to fellow Dems occupying the House in an attempt to bring gun-control legislation to the floor, also has a plan to develop a national “lost-and-found” for retirement plans.
Senator propose legislation to help participants find abandoned retirement accounts
Bipartisan legislation to help find lost or forgotten retirement savings accounts was introduced Tuesday by Sens. Elizabeth Warren, D-Mass., and Steve Daines, R-Mont. The proposed Retirement Savings Lost and Found Act would use data that employers are already required to report to create a national, online, lost-and-found database for retirement accounts.
Warren, Daines offer retirement bill
Sens. Elizabeth Warren (D-Mass.) and Steve Daines (R-Mont.) on Tuesday introduced legislation to protect the retirement savings of people who change jobs.
Union retirees battle for pension payouts, possible bailout: What’s at stake?
When you walk past the 45-story skyscraper on Cleveland’s Public Square, look up and think of Walter Overstreet. There he was in the early 1980s, framing what was to become the Standard Oil of Ohio headquarters and was later known as the BP Tower — the third tallest building in Cleveland — and doing work that tries the […]
