PRC thanks the PBGC for protecting Hospital Center at Orange retirees (05/10/2013)
On May 10, 2013, the Pension Benefit Guaranty Corporation (PBGC) announced that it would assume responsibility for the Hospital Center at Orange (HCO) pension plan, after the IRS revoked the plan’s “church plan” status. The Pension Rights Center sent a letter to Josh Gotbaum, director of the PBGC, thanking him and his staff for protecting […]
Webinar: How Financial Security Impacts Nonprofit Career Decisions
Event description: Karen Friedman joined economists and experts from TIAA-CREF and Independent Sector as they discussed the results of a study titled, Financial Security and Careers in the Nonprofit and Philanthropic Sector, and how a perceived and real lack of financial security can undermine a nonprofit’s ability to attract, retain, and develop the most talented individuals and […]
Former Lawmaker Sees Hope in Congress For Multiemployer Plan Recommendations
Greater congressional interest in retirement policy in recent years could help a proposal that would shore up the multiemployer retirement plan system get adopted into law, former Rep. Earl Pomeroy (D-N.D.) said May 2.
New Rule Signals Kiss of Death for Pensions
A little known rule change that allows companies to contribute fewer dollars to pension funds is signaling just how meaningless the retirement vehicle has become.
Happy Older Americans Month!
The start of May marks the beginning of Older Americans Month, a celebration of the contributions older Americans make to society. Sponsored by the U.S. Administration on Aging, the theme of this year’s Older Americans Month—“Unleash the Power of Age!”—highlights the significant positive ways that older Americans influence their communities. 2013 happens to be the […]
Adjustable pension plan design begins to gain converts
A new pension plan design that allows employers to drastically reduce their risk while still providing lifetime income to participants is gaining support as an alternative to moving employees into a defined contribution plans.
Reception Honoring the Pension Counseling and Information Program: 20 Years of Success
Event description: The Pension Rights Center celebrated the 20th anniversary of the Pension Counseling and Information Program at a reception in Washington, D.C. See photos and learn more.
Despite financial troubles, J.C. Penney has one of the best-funded pensions in the country
Troubled companies usually have troubled pensions, if they have pensions at all. Bankrupt giants such as General Motors Co., American Airlines Inc. and LTV Steel were hampered by billions in unfunded pension liabilities. Then there’s J.C. Penney, whose financial problems have made headlines for months. The Plano-based retailer has one of the best-funded pensions in […]
Baby Boomer Confidence Level Still Low On Retirement Security, IRI Survey Finds
Many members of the baby boom generation continue to lack confidence in their retirement outlook, according to a survey released April 8 by the Insured Retirement Institute.
Options for Increased Retirement Security — comments to the House Ways & Means Committee (04/15/2013)
Comments for the Committee on Ways and Means Working Group on Pensions and Retirement Options for Increased Retirement Security Submitted by the Pension Rights Center April 15, 2013 Since 1976, the Pension Rights Center has served as the nation’s foremost consumer organization working exclusively to protect and promote the retirement rights of workers, retirees, and […]
401(k) rollover study triggers call for action
A new Government Accountability Office report highlighting the pitfalls of rolling over 401(k) plan accounts is sparking demand for clearer procedures and stronger consumer protections from companies and the federal government.
Borrowing against the future with a 401(k) loan
Thinking about taking a loan from your 401(k) plan? Think again. It’s no secret that many Americans were hit hard and are still struggling to recover from the financial crisis. Even those who weren’t laid off or downsized during the recent recession may think of their 401(k) accounts as piggy banks instead of the retirement […]
