Pension cuts to keep federal fund afloat could drown retirees in debt
A recovery plan that would reduce pension paychecks to keep the Central States Pension Fund afloat could ultimately drown Wisconsin retirees and the state’s economy in financial problems.
California proposal would require businesses to help workers save for retirement
Companies with as few as five employees could soon be required to provide them with retirement savings accounts, under a new proposal wending its way through the state Legislature that is nearing a vote.
California explores state-run 401(k) plan
In a time when employers are increasingly trimming or completely forgoing employee retirement benefits, political leaders in the country’s largest state hope the government can help young workers take matters into their own hands.
MEDIA ADVISORY: Retirees coordinate statewide “March Madness” actions to protest unfair pension cuts
In a series of coordinated actions taking place from March 10-13, angry retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions. The retirees are calling on presidential candidates and members of Congress to protect their pensions and to educate other retirees that […]
California proposal for state-run retirement plan for private-sector workers moves forward
California has taken a step closer to becoming the first state to make retirement savings accounts a near-universal benefit for workers with a plan that lawmakers hope will help ease an expected massive shortfall in retirement savings.
The case of the missing pension
Tracking down a plan from a former employer can be difficult.
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.
