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.
Claim That 401(k)s Beat Defined Benefit Plans Stirs Controversy
A basic — and increasingly nostalgic — assumption in the private pension world has long been that the financial payouts of defined benefit plans are much better than those of defined contribution plans, and it’s too bad that defined benefit plans seem to be heading for extinction.
Detroit’s workers and retirees face big cuts
While the details of Detroit’s historic bankruptcy filing Thursday continue to unfold, one thing is clear: Tens of thousands of current and retired city workers face the risk of significantly smaller pension checks.
Congress should protect investors, not undermine them
In 1975, when the U.S. Department of Labor issued a rule defining who is an investment advisor under the Employee Retirement Income Security Act, the Vietnam War had just ended, Steve Jobs was tinkering around his dad’s garage, and Angelina Jolie was barely in diapers. To say that the world has changed since then is […]
“Retail Investor Protection Act” Does Not Protect Investors: Coalition
The controversial “Retail Investor Protection Act, recently introduced by Rep. Ann Wagner (R-MO), is gaining opposition from coalitions set on protecting investor interests.
Protecting Retirement Savings: The Case for Modernizing Advice
Event description: The Pension Rights Center, along with AARP, the AFL-CIO, Americans for Financial Reform, and others held a briefing for congressional staff on the important role fiduciary duty standards play in protecting the interests of American investors and the urgent need for the SEC and DOL to update these rules. Watch video of the briefing.
Retiree Janice Winston speaks out in support of strong fiduciary regulations (July 8, 2013)
At a briefing for Congressional staff on the harmful impact that H.R. 2374 would have on retirement security, retiree Janice Winston told a personal story that illustrates the need for a strong fiduciary standard. For more information, read the Pension Rights Center’s July 8, 2013, letter opposing H.R. 2374 Hello, my name is Janice Winston. […]
Norman Stein calls for an end to conflicts of interest in investment advice (July 8, 2013)
At a briefing for Congressional staff on the harmful impact that H.R. 2374 would have on retirement security, PRC Senior Policy Advisor Norman Stein detailed the need for unconflicted investment advice in retirement plans and called for the defeat of the bill. For more information, read the Pension Rights Center’s July 8, 2013, letter opposing […]
PRC letter to the U.S. House of Representatives opposing H.R. 2374 on fiduciary standards (July 8, 2013)
The Pension Rights Center sent a letter to every member of the U.S. House of Representatives, urging them to vote against H.R. 2374, the deceptively titled “Retail Investor Protection Act.” The Center warned that the bill would scuttle years of work and an on-going process to ensure that financial advisors provide investment advice that serves […]
A deed well done: Pensions protected
Let me brag. The Pension Rights Center, where I serve on the board, has just helped participants in a so-called church plan achieve justice. The Pension Rights Center did not do this alone; former employees and retirees as well as the Internal Revenue Service and the Pension Benefit Guaranty Corporation (PBGC) played important roles. This […]
Do no harm: Protecting retirees in shaky pension plans
We’ve all heard the physician’s Hippocratic oath: “First, do no harm.” But there’s a similar, less-well-known principle in the world of pensions: First, do no harm to retirees.
Webinar: Finding Lost Pension Plans
Event description: The Pension Rights Center held a webinar on tips and tricks for tracking down a lost pension or retirement savings plan. Participants in this webinar learned about the problem of lost pension plans and the resources available to find these plans. This webinar was offered free of charge for legal service providers and advocates. […]
