Major Groups Applaud Public Release of Dept. of Labor’s Proposal to Protect Americans’ Retirement Savings
Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice: “The release of […]
EPCRS Changes Make Key Clarifications For Employers, Participants, Practitioners Say
Two recent Internal Revenue Service updates to its correction program, the Employee Plans Compliance Resolution System, ease some burdens on employers discovering costly errors in their plans, practitioners told Bloomberg BNA.
PRC Comments to the PBGC on partitions and mergers in multiemployer pension plans (April 15, 2015)
The Pension Rights Center submitted comments to the Pension Benefit Guaranty Corporation in response to its Request for Information on partitions and mergers in certain underfunded multiemployer plans.
Speech by Karen Friedman to the Pension Rights Committee of Minnesota (April 11, 2015)
On April 11, 2015, Karen Friedman spoke to the Pension Rights Committee of Minnesota, a group of retired Teamsters who are concerned about possible retiree benefit cuts in certain underfunded multiemployer plans. Good morning, my friends from the Pension Rights Committee of Minnesota. Thanks for inviting me to speak today. I am the executive vice president […]
Speech by Joellen Leavelle to the Wisconsin Committee to Protect Pensions (April 11, 2015)
On April 11, 2015, Joellen Leavelle spoke to the Wisconsin Committee to Protect Pensions, a group of retired Teamsters who are concerned about possible retiree benefit cuts in certain underfunded multiemployer plans. Hi. I’m Joellen Leavelle, Digital and Outreach Director at the Pension Rights Center. Thanks to you all for inviting me to speak […]
Questions Arise Over Repayment Of Money Paid Pensioners In Error
Pontiac retirees who were accidentally overpaid may have to give back that money. But an activist group says they shouldn’t have to cough up the cash.
Signed, Sealed and Delivered! 1,500+ comments delivered to the Internal Revenue Service
Yesterday afternoon, Karen Friedman, Nancy Hwa and I hand-delivered more than 1,500 comments to the Internal Revenue Service. These comments were in response to the Treasury Department’s Request for Information on future guidance relating to the implementation of the Multiemployer Pension Reform Act of 2014, a law that for the first time allows the trustees […]
Pension rights group: Overpayments to Pontiac retirees should be forgiven
Internal Revenue Service rules could allow the 150-percent-funded Pontiac General Employees Retirement System to forgive overpayments made for 16 months to 600 retirees.
Red flags for those mapping out their retirement years
You think your Social Security benefits aren’t vulnerable? Then you should pay attention to what’s happened with pensions.
PBGC may need a financial safety net of its own
Forty years after it was created, the future of the federal agency that guarantees employees’ and retirees’ pension benefits is in doubt.
Multiemployer pensions rescue buys the PBGC some time
While experts may disagree on the strength of the Pension Benefit Guaranty Corp.’s insurance program for single-employer pension plans, there is a broad consensus that lawmakers had to act last year to prevent the collapse of big, underfunded multiemployer pension plans, and with that the PBGC’s multiemployer insurance program.
Shortfalls sabotage promise of union retirees’ pensions
Once considered sacrosanct, many retiree pensions may no longer be secure. A change in federal law passed last year with bipartisan support would allow struggling union pension funds to cut benefits for retirees younger than 75 by as much as 60 percent.
