The 2015 Pension 40: The Long Climb
The struggle over the fate of defined benefit pensions continues to dominate the Institutional Investor’s annual ranking of the 40 most important people in pensions.
Teamster Retirees Demand Trustees ‘Stop the Rush’ to Slash Pensions in Half
They thought their pensions were secure—but now they’re fighting to keep them. Retired and active Teamsters in 25 states from Florida to Minnesota received notice this fall that their pensions could be cut by as much as 60 percent, beginning July 1.
1 Million Affected by De-Risking in 5 Years, PBGC Says
More than a million defined benefit plan participants in larger plans were affected by pension de-risking activities from 2009 through 2013, and more than half of those were involved in 2012 transactions, the Pension Benefit Guaranty Corporation said in a report.
14,800 Minnesotans face deep cuts to their pensions
Ken Petersen spent 30 years as a Teamster trucker, loading and hauling utility poles, fertilizer and other freight. All those years his employers socked money away for the monthly pension check Petersen has received since he retired from trucking in 2003.
Risky Pension Bets
Would you rather have a monthly pension guaranteed for life or a lump sum of money now? Before I address that question, let me say that you’re lucky if you have the choice.
PRC comments to Treasury on the Central States Pension Fund’s application to cut retiree benefits (December 10, 2015)
The Pension Rights Center submitted comments to the Treasury Department regarding the Central States Pension Fund’s (CSPF) application to cut retiree benefits under the Multiemployer Pension Reform Act of 2014. In its comments, the Center urges Treasury to reject CSPF’s application because The application fails to demonstrate that the plan took all reasonable steps to […]
Independence rally draws pension rights advocate Karen Friedman
Pension rights advocate Karen Friedman will address area retirees facing huge cuts to their pensions at a rally Thursday in Independence.
Proposal to slash Teamsters’ pension benefits to be discussed tonight
Facing cuts in their promised pensions of 30%, 50% and even more, retired Teamsters on Wednesday evening blasted the “rescue plan” that the Central States Pension Fund says it needs to save it from going broke.
This is what we do: help people
My colleague Kyle often brings to my attention news articles that might merit a response from us. Sometimes the article contains a factual error. Sometimes we disagree with a statement in the article and write an opposing view in a letter to the editor. Sometimes we have additional information to add. Back in March, Kyle […]
Retirement Issue Gets Presidential ‘I Beg Your Pardon?’
The race to the Oval Office is shaping up, and people like Brianna Buch are noticing one sizable employment issue is getting little attention from presidential candidates: retirement. Buch joked that if recording artist Kanye West gets serious about running for president in 2020 and if he starts talking about retirement issues — maybe, just […]
A big step forward for state-based initiatives
For the past 15 years, one of the Center’s top priorities has been to find innovative ways of finishing the formidable task of expanding pensions and retirement savings for the about 50 percent of the workforce – 70 million Americans – who are not currently participating in an employer-sponsored retirement savings or pension plan. Getting […]
Why Retirees Are Losing Their Pensions (AUDIO)
You didn’t read wrong. Retirees, after working for 30 years or more, will lose up to 70% of their pensions. These are some of our neighbors & friends. As a result of Congress’ 2015 omnibus spending bill, the pensions of up to 400,000 Americans, many of whom spent lifetimes working here, will see their pensions […]
