Major Financial Players Lobby Around Obama’s Investment Rules
In the months since President Obama announced his support for new retirement investment rules that would stop advisers from pushing high-fee plans on small-fry American investors, several major financial organizations have lobbied hard on a bill that would undermine the commander in chief’s agenda, according to recently released lobbying records for the first quarter of […]
How to search for lost pension money
Dear Savvy Senior: What tips can you offer for tracking down a lost pension from a previous employer?
PRC statement in response to a subcommittee hearing on multiemployer pension plans (April 29, 2015)
The Subcommittee on Health, Employment, Labor and Pensions of the Committee on Education and the Workforce in the U.S. House of Representatives held a hearing on “Examining Reforms to Modernize the Multiemployer Pension System.” In response to this hearing, the Pension Rights Center released the following statement: The Pension Rights Center is a nonprofit consumer […]
A “Gettysburg Address” on pension promises
Last week, I spoke to an auditorium full of economics and public policy students at Gettysburg College, as part of the Economics Department’s Finance Symposium. This year’s topic: “Re-Defined Benefits: The Past, Present, and Future of Defined Benefit Pensions in the United States.” You can read my speech here or watch the entire symposium on […]
Speech by Karen Friedman at Gettysburg College on “Re-Defined Benefits: The Past, Present, and Future of Defined Benefit Pensions in the United States” (April 23, 2015)
Karen Friedman participated in a Finance Symposium, hosted by the Economics Department at Gettysburg College. The topic for the symposium was “Re-Defined Benefits: The Past, Present, and Future of Defined Benefit Pensions in the United States.” Below are her remarks. You can watch the entire symposium on the Economics Department’s Facebook page. Hello, I’m Karen Friedman, the executive vice […]
Why Labor Department Gets a Say on IRA Advice
Individual retirement accounts are a creation of tax law, with rules spelled out by the Internal Revenue Service. Now the Labor Department, which oversees workplace retirement plans, is weighing in—proposing new rules for brokers and others giving advice about retirement savings.
Some Union Pension Cuts Likely As New Federal Rules Take Shape
The likelihood that hundreds of thousands of union members nationwide won’t be receiving the full pension benefits promised to them is becoming clearer as federal regulatory agencies in Washington, D.C., move to implement new pension legislation quietly approved in the final weeks of 2014.
Teamsters Mount Grassroots Campaign to Block Pension Cuts
Teamsters are up in arms over looming pension cuts that could slash the incomes of both current and future retirees—anyone under 80.
Supporters, Critics, Gear Up for Fight Over Proposed Expanded Fiduciary Definition
Supporters and opponents of the Department of Labor’s conflict-of-interest proposed regulation ramped up their campaigns soon after the Obama administration announced the rule’s release.
Save Our Retirement Coalition’s Initial Statement on Rule Protecting Americans’ Retirement Savings
Washington, D.C. – The seven members of the SaveOurRetirement.org coalition – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, the Consumer Federation of America and the Pension Rights Center – released the following statement following an initial review of the Department of Labor’s (DOL) proposed rule protecting Americans from harmful conflicts of interest, when brokers and other financial advisers give retirement […]
Glimmers of hope for victims of unfair pension takebacks
In a recent article, “Can They Grab Your Pension?”, AARP Bulletin highlights the problem of recoupment – when a pension plan overpays a retiree and then demands that the retiree pay back the overpayment. To recoup the money, the plan usually reduces the retiree’s benefit. It might also demand that the retiree pay a lump […]
Private pension funding drops to lowest level in 6 years
Even as stock market rose last year, pension funding levels at America’s biggest companies in 2014 fell to levels not seen since just after the financial crisis.
