Retirees Nationwide Protest Multiemployer Plan Benefit Cuts
The Pension Rights Center announced that in a series of coordinated actions taking place from March 10 through 13, retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions.
Editorial: A debt trap in need of a fix
In 2014, half of all older U.S. adults had less than $22,248 in yearly income from all sources, according to the Pension Rights Center. Pushing them further into poverty by garnishing their Social Security is an embarrassment to the country.
Editorial: State needs to address senior squeeze
Most current retirees worked in an age when larger companies provided employees with defined benefit pension plans. When combined with Social Security, pensions allow many retirees to enjoy a comfortable old age. Despite that, according to the Pension Rights Center, half of America’s 46.2 million retirees in 2014 had an income from all sources of […]
Teamsters retirees push back against pension cuts
“I feel like I’ve been robbed,” Laxton said. “I was promised all these years that I would receive this retirement at retirement age as long as I worked the years, and now they’re telling me that they have misinvested the money. I had no idea, or I’d have stayed in the truck,” he said.
Church Plan Challengers Score Second Appellate Victory
The nationwide litigation effort accusing large hospitals of using ERISA’s church plan exemption to underfund their pension plans by millions of dollars scored its second big victory when the U.S. Court of Appeals for the Seventh Circuit ruled against Illinois-based Advocate Health Care Network.
Who will do right by the Teamsters’ broken pension promises?
Thirty years of work for a truckload of broken promises. More than 200,000 Teamsters have traveled a long road that was supposed to end with a secure retirement. Instead, decades of misdeeds and neglect have exploded into a public crisis. Now, retired union members face drastic cuts in their monthly pension checks — many by half […]
PRC statement to the Senate Finance Committee on “The Multiemployer Pension Plan System: Recent Reforms and Current Challenges” (March 1, 2016)
The Pension Rights Center is a nonprofit consumer organization that has been working since 1976 to promote and protect the retirement security of American workers and their families. We are pleased that the Senate Finance Committee is holding today’s hearing, “The Multiemployer Pension Plan System: Recent Reforms and Current Challenges.” We hope that the hearing […]
Central States Retirees: A Wave of Organized Wrath
The Detroit picket was one of five this weekend called by angry Teamster retirees under the rubric of “March Madness,” with actions also held in Kansas City, St. Paul, Columbus, and Dunn, North Carolina.
Retirees protest proposed pension cuts
The last few weeks have been busy for retirees who are working around the clock to stop the pension cuts proposed by the Central States Pension Fund that would affect hundreds of thousands of retired truck drivers, spouses and widows. Just this past weekend, retirees in five states held coordinated actions to call attention to the […]
States Could Offer Effective Options for Workers Without Retirement Plans
About half of American workers in the private sector are not planning long term for their future, lacking any sort of pension or retirement savings plan.
Is Pension Overhaul A Raw Deal For Career Military?
Congress is cutting the guaranteed defined benefit pension plan for service members–and to make the change more palatable, adding sweeteners: a 1% base pay contribution and up to 4% match in the government Thrift Savings Plan and lump sum bonuses.
