FSI to fight rollout of auto IRAs
Independent broker-dealer group says automatic retirement savings plans pose competition to financial advisers
Reporters fail to capture implications of pension provision
A ‘big shift’ tucked into the spending bill goes under-examined
PRC Statement on Retiree Pension-Cut Legislation Included in Omnibus Bill
Washington – On December 16, President Obama signed the 2015 Omnibus spending bill. The new law contains provisions that allow certain underfunded multiemployer pension plans to cut retirees’ benefits. The Pension Rights Center released the following statement from Executive Vice President Karen Friedman: “For decades, the federal pension law has ensured that retirees are […]
President Expected to Sign Spending Bill Addressing Multiemployer Plans, 4062(e)
President Barack Obama was expected to sign into law a $1.1 trillion U.S. government spending bill that includes elements designed to boost the nation’s troubled multiemployer pension plan system and provisions addressing several other employee-benefits-related areas.
Pension Benefits: New Law Lets Trustees Cut Them
The House and Senate plan that would let trustees of certain financially wobbly pension plans cut retirees’ benefits is aimed at reducing financial demands on those underfunded plans so they do not collapse totally.
Congress passes major change to law on union pensions
Severely underfunded union pension plans will be allowed to reduce current retiree benefits in order to avoid future insolvency, under a last-minute amendment attached to the $1.1 trillion federal government appropriations bill known as the “CRomnibus.”
Those Pension Cuts and What You Need to Know
Congress recently carved a hole in a 40-year-old pension law that has prevented employers from cutting benefits earned by those already retired. This change applies to people covered under multiemployer plans that are in critical financial shape.
The 2014 Pension 40: Karen Ferguson and Karen Friedman
They’re known in pension circles as Team Karen.
The 2014 Pension 40: The Battle Is On
Our ranking of the 40 most influential players in U.S. pensions highlights new names swept up in an intensifying political struggle.
Cromnibus Continues Attack on Pensions
There are plenty of setbacks for working people, and benefits for the rich and corporations, in the $1.1 trillion appropriations bill just passed by Congress. But what it does to pension protections is appalling.
4 Ways Congress Just Screwed Up Pensions
When the Senate approved the omnibus spending bill to prevent the government from shutting down, it also delivered a blow to some retirees who collect pensions. In a little-discussed provision of the bill, certain multi-employer pension plans were given the go-ahead to reduce pension checks to current recipients by up to 60 percent. Didn’t see […]
Congress gives final OK to bill allowing multiemployer pension plan benefit cuts
Trustees of financially distressed multiemployer pension plans would be allowed to cut participants’ benefits to prevent the plans from becoming insolvent under legislation given final congressional approval Saturday.
