Free legal assistance for problems collecting pension benefits
Q: My husband passed away earlier this year. When I applied for his pension survivor’s benefit I was informed I was not eligible. He was out on disability when he was forced into retirement and never officially signed paperwork regarding his pension. By default he was receiving a higher monthly payout which automatically did not […]
Groups Say Lifetime Income Guidance Should Be Flexible, Provide Protections
Any guidance promulgated by the Department of Labor’s Employee Benefits Security Administration on lifetime income illustrations should be optional for retirement plans and provide fiduciary protections, retirement and financial industry groups say in comment letters.
An X-ray of one affluent, educated and sophisticated investor’s portfolio shows how it was chewed up by fees
Helping an ex-Fortune 500 retiree prepare for her appearance before Congress, the author waded through a mountain of paper only to discover that the woman was likely to outlive her portfolio.
Tracking down retirement benefits from a previous job
Q: I am 65, retired and living on Social Security. I had a supplemental retirement plan with Joslyn Corp., where I worked for 13 years until January 1979. I have tried all the government databases and Google, to no success. I know the company has been sold, but that’s all I know. Supposedly, I have […]
How much monthly income will that 401(k) get you?
If you think figuring out how much money to put into your retirement savings accounts is complex, wait until it’s time to take money out.
401(k)s are a sham
Duped by a DIY retirement dream, the elderly now face staggeringly low living standards
Labor secretary’s job might be new, but his plate is full
Thomas Perez, the new secretary of labor, will have little time to make an immediate imprint on retirement issues as he inherits the already packed regulatory agenda of the Employee Benefits Security Administration, including a controversial new fiduciary rule.
Joint comments to Labor on lifetime income estimates on benefit statements (August 2, 2013)
The Pension Rights Center and the National Women’s Law Center submitted comments to the Employee Benefit Security Administration at the Department of Labor, in support of requiring benefit statements from 401(k)-type plans to include a calculation of how much income the current account balance would provide for life. Related: Joint comments by eight organizations to […]
High Anxiety: The Nonprofit Sector’s Retirement Problems
When you ask employees at nonprofit organizations about job satisfaction, more often than not they will give you a positive response; for these mission-oriented workers, purpose is paramount. When asked about their plans for retirement, however, nonprofit employees express insecurity and uncertainty about the future.
Oregon takes a step toward retirement security for all
Oregon recently took a step forward in the movement to expand retirement savings for its workers. Oregon’s state legislature passed House Bill 3436, which creates a task force to explore options for helping private-sector workers who lack access to a workplace retirement plan save for retirement. The bill is now awaiting the governor’s signature. House […]
Pension Advocates Raise Questions About IRS Rulings on Church Plan Status
In the months since the Internal Revenue Service lifted a moratorium in 2011 on issuing private letter rulings on church plans, IRS has issued at least 13 rulings granting church plan status, including one conferring church plan status on a defined benefit pension plan sponsored by a tax-exempt 501(c)(3) unincorporated religious organization that had been […]
Teamsters pension plan stuck in crisis
The plight of the Teamsters’ Central States, Southeast & Southwest Pension Plan has been in the news lately and its prospects are not good.
