IRS’s W. Thomas Reeder Nominated To Lead PBGC; Pick Widely Lauded
President Barack Obama nominated W. Thomas Reeder Jr. as director of the Pension Benefit Guaranty Corporation, and initial reaction the day after was positive from various realms of the employee benefits community.
Speech by Karen Friedman to the Pension Rights Committee of North Carolina (May 30-31, 2015)
Good morning, my friends from the Pension Rights Committee of North Carolina. Thanks for inviting me to speak today. I am the executive vice president and policy director of the Pension Rights Center, the country’s oldest national consumer organization working to protect and promote the retirement rights of workers, retirees, and their families. We’ve been […]
States seek workplace retirement plans
According to the latest data, about 55 million U.S. private-sector workers don’t have access to a workplace retirement-savings plan, and states want to change that.
As Pension Recoupment Grows, Advocates For Pensioners Offer Advice to Agencies
Pension plans have been ratcheting up demands that retirees reimburse them for benefit overpayments, and a lack of government guidance has pushed those efforts even further, advocates for pensioners told Bloomberg BNA.
Supreme Court Decision in Tibble a Victory for 401(k) Participants
WASHINGTON – On May 18, the U.S. Supreme Court ruled in favor of employees in Tibble v. Edison International, a class-action lawsuit filed by participants in the power company’s 401(k) plan. The plaintiffs argued that plan trustees violated their fiduciary duty by paying more than necessary for certain investments, which negatively impacted their account balances. […]
As Church Plan Debate Hits Next Level, 3rd Cir. Receives Competing Amicus Briefs
More than two years into a litigation effort challenging the way large hospitals run their pension plans, all eyes are on the U.S. Court of Appeals for the Third Circuit, which recently received a flood of amicus briefs arguing both sides of the debate.
Supreme Court decision should help lower 401(k) fees
In a decision that should put further downward pressure on 401(k) fees, the Supreme Court ruled unanimously Monday that the trustees in charge of such plans have an ongoing duty to monitor plan investments.
Speech by Karen Friedman at the Labor Fightback Conference 2015 (May 16, 2015)
Hello, Labor Fightback! Thanks for inviting me this evening to speak. I’m Karen Friedman, the executive vice president and policy director of the Pension Rights Center. We are a national consumer organization that has been around since 1976, working to promote and improve retirement security for American workers and their families. We work to close […]
More GOP Senators Press DOL to Extend Fiduciary Comment Period
Lawmakers on both sides of the aisle continue to pressure the Department of Labor to extend the comment period on its revised plan to amend the definition of fiduciary for retirement accounts.
Lawmakers Ask DOL’s Perez to Extend Fiduciary Comment Period
Lawmakers asked Labor Secretary Thomas Perez in two separate letters this week to extend by another 45 days the comment period on the Department’s redraft of its rule to amend the definition of fiduciary under the Employee Retirement Income Security Act.
Split with White House widens as Democratic lawmakers ask DOL to extend comment deadline on fiduciary rule
More than two dozen Democratic lawmakers are asking the Labor Department to extend the comment period on a controversial rule that would raise investment advice standards for brokers working with retirement accounts.
