Pension law, regulation pioneer Robert Nagle dead at 84
Robert Nagle, a long-time pension policymaker and regulator, died Saturday at his home in McLean, Virginia. Mr. Nagle, 84, had been battling cancer.
A tribute to retirement security hero Bob Nagle
WASHINGTON – The Pension Rights Center pays tribute to a true retirement security hero, Robert E. Nagle, who died at his home at the age of 84 on Saturday, August 16, 2014. As General Counsel of the Senate Committee on Labor and Public Welfare, Bob was responsible for crafting and securing passage of the Employee […]
Think you’re better off with a lump sum over a monthly pension? Think again.
NCR Corp. Lockheed Martin and packaging firm RockTenn are among the growing number of employers who in recent years have hit tens of thousands of their workers and retirees with an enticing offer: to accept lump sum payouts, often well into six figures, in lieu of monthly pension payments.
Robert Nagle, an architect of ERISA, dies at 84
Robert E. Nagle, who as general counsel of the Senate Committee on Labor and Public Welfare was one of the architects of the Employee Retirement Income Security Act of 1974, died on Sunday in McLean, Va., following a battle with cancer. He was 84.
The Case of the Deleted Social Security Data: Why It is Bad for Workers and Retirees
In their 2014 report on the finances of Social Security, the trustees of the system deleted key information on the replacement rates of Social Security. What’s the harm in that, right? Isn’t this just a technical or administrative issue? According to Alicia Munnell, director of the Center for Retirement Research at Boston College and one […]
Which states are tackling retirement security, and how?
With federal legislation intended to increase retirement savings for workers not covered by a plan at their job stuck at the starting gate, the retirement policy vacuum is being filled in various ways across more than a dozen states.
Pensions lost and (hopefully) found
Imagine earning a pension after many years of hard work with a company. Then you leave your employer before retiring and without claiming your pension. When you reach retirement age, you expect to be able to start receiving that pension but you are unable to find the employer or the plan. Your pension plan is […]
Speech by Karen Friedman to the Governor’s Task Force to Ensure Retirement Security for All Marylanders (August 7, 2014)
My name is Karen Friedman, and I am the executive vice president and policy director of the Pension Rights Center, a national consumer organization working exclusively to protect and promote the retirement rights of workers, retirees, and their families. Thank you, Chairwoman Townsend for inviting me to speak today at the very first meeting of […]
Church-plan status under increased scrutiny
A growing number of lawsuits and some key court rulings are making it harder for church-affiliated defined benefit plans to be exempt from federal pension rules.
PRC Comments to the PBGC on documentation of terminated plans (July 30, 2014)
Pension Rights Center submitted comments to the Pension Benefit Guaranty Corporation, recommending documents and information that pension plan administrators should submit to the agency when plans are terminated. Such documentation could help plan participants obtain their pension benefits when they reach retirement age.
Church pension plan status rejected by U.S. District Court
In one of five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge ruled Tuesday that the pension plan of Dignity Health is covered by ERISA.
Unemployed today, no retirement savings tomorrow
Last week, I accompanied Karen Friedman to Witness Wednesday, where she spoke about the fact that too many people who have lost their jobs and whose unemployment benefits have expired have had to dip into their 401(k) savings to pay for basic needs. She said, “If people use up their 401(k) money today…what will they […]
