Thought Secure, Pooled Pensions Teeter and Fall
The pensions of millions of Americans are being threatened because of trouble in a part of the retirement world long considered so safe that no one gave it a second thought.
New Law Set to Protect Pensioners in Some Religiously-Affiliated Nonprofits
WASHINGTON – On April 7, President Obama signed the Cooperative and Small Employer Charity Pension Flexibility Act into law. (P.L. 113-97). The law allows pension plans that are run by charities and cooperative associations for groups of related employers to continue to receive relief from federal funding rules under certain conditions. One condition applies to […]
Federal judge: Saint Peter’s pension case can proceed
A New Jersey federal district court judge recently ruled that the pension plan of city-based Saint Peter’s University Hospital is not a “church plan” exempt from the protections of federal pension law.
Decision in Saint Peter’s “Church Plan” Case a Victory for Workers and Retirees; Lawsuit against Hospital Can Proceed
WASHINGTON – On Monday, a New Jersey federal district court judge ruled that a pension plan established by religiously-affiliated hospital is not a “church plan” exempt from the protections of federal pension law. The Honorable Michael A. Shipp denied a motion to dismiss filed by the hospital in a lawsuit brought by a former hospital […]
Courts question law leaving pensions unprotected
New rulings against Catholic hospital chains on both coasts have intensified a faceoff between religiously affiliated employers and workers who are alarmed by the companies’ efforts to avoid insuring or funding their pensions.
Challenges to 2 church plans move forward
On Monday, a U.S. District Court in New Jersey dismissed a motion by Saint Peter’s Healthcare System, New Brunswick, N.J., to stop a lawsuit by pension plan participants challenging a recent ruling by the IRS that it was a church plan exempt from ERISA. The IRS determination, wrote Judge Michael Shipp, “conflicts with the plain […]
Company pension plans are healthier, but they’re still dying
This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them.
Corporate titans campaign to increase workers’ pay and pensions
April 1, 2014 – Many of the country’s highest-paid CEOs have decided to give up their exorbitant compensation packages to pay their workers better wages and higher pensions. This announcement comes as part of the “Corporations are Really Good People Campaign.” Oracle CEO Larry Ellison, whose compensation package is valued at more than $96 million, […]
Your retirement planning checklist
Many who are planning their retirement need someplace to start — a list to begin their thinking. The information in this article is just such a list and includes links to relevant content to help in this planning.
Private sector pension de-risking and participant protections
On Nov. 5, 2013, the ERISA Advisory Council submitted findings and recommendations on pension de-risking to the Secretary of Labor. Pension de-risking transactions have received a lot of attention lately, both in the media and among sponsors of defined benefit pension plans. Therefore, this communication from the Advisory Council is an important summary of the […]
Women hit harder than men by retirement
Both men and women are facing a retirement crisis, but it disproportionately affects women, according to the Pension Rights Center. The retirement income deficit is $6.6 trillion, which is the gap between what people have currently saved and what they will need to retire comfortably. Women continue to be hit the hardest, even though more […]
Your retirement-planning time table [SLIDESHOW]
It pays to consider the details early—even 15 years ahead
