Multiemployer Plans in the Spotlight, But Congress May Broaden Retirement Focus
The sunset of Pension Protection Act multiemployer plan provisions at the end of 2014 could provide Congress and others with the impetus to finds ways to change the U.S. retirement system.
House Democrats Seek Dialogue With DOL On Conflict-of-Interest Rule Re-Proposal
Thirty House Democrats have requested to have a “dialogue” with Secretary of Labor Thomas E. Perez about the agency’s re-proposal of the rules expanding the definition of fiduciary before the rules are submitted to the Office of Management and Budget.
Plan Sponsor De-Risking Likely to Continue Even With Higher Funding, Practitioners Say
The recent upswing in defined benefit plan funding levels might encourage plan sponsors to take some major steps to de-risk their plans.
Should I take my pension’s lump sum offer?
I have not started collecting my pension yet. I do not know whether to take a lump sum or take monthly checks from my 25 years of service with a well-known company. What are the risks?
PRC comments to OMB on terminating pension plans (January 21, 2014)
The Pension Rights Center submitted comments to the Office of Management and Budget, supporting the Pension Benefit Guaranty Corporation’s request that terminating single employer plans be required to include sample copies of the required notices that they sent to participants.
PRC comments to the IRS on the Form 8955-SSA (January 21, 2014)
The Pension Rights Center submitted comments to the IRS, supporting its request to continue collecting information on Form 8955-SSA.
How to Monitor Your Pension’s Health
You paid into a pension system. It will pay out for you … right? Maybe. As illustrated by Detroit’s municipal bankruptcy and the threatened implosion of its pension plans, not to mention routine corporate bankruptcies, pensions can’t be taken for granted.
Timing of Fiduciary Rule for Retirement Plans Questioned
If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.
House Democrats urge caution on DOL fiduciary-duty rule
A group of 30 House Democrats has warned Labor Secretary Thomas Perez that a pending rule that would raise investment advice standards for retirement-plan advisers could hurt investors with modest assets.
House Approves Budget Agreement That Includes Hikes in PBGC Premiums
Defined benefit plan pension insurance premiums would be increased by Congress for the second time in less than two years under a new budget compromise reached by the heads of the House and Senate Budget committees, with the premium provisions projected to cut federal spending by nearly $8 billion over 10 years. [PDF]
Federal court rejects church plan status for Dignity Health
In the first decision among five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge found that ERISA rules do apply.
America’s Pensions Are Under Attack, and More
…In screwed news… America’s pensions are under attack. Politicians, corporations, and even our courts are all chipping away at retirement benefits and promised healthcare that workers paid into throughout their careers.
