‘Triumph of justice’: 800 pensions saved after feds cover $30M shortfall for closed hospital
Christmas will come early to 800 hospital workers whose pensions were at risk of being lost by December, thanks to a federal safety net program.
PBGC to take control of hospital pension plan
The PBGC will cover the pension benefits of nearly 800 former employees of the Hospital Center at Orange, after a change in legal status.
Pension Rights Center Applauds the Pension Benefit Guaranty Corporation’s Take-Back of a Hospital Pension Plan
WASHINGTON — The Pension Rights Center applauds today’s decision by the Pension Benefit Guaranty Corporation (PBGC) to take over pension payments to more than 800 former employees of the now-defunct Hospital Center at Orange (HCO). The federal agency that insures most private pension plans has announced that it will restore insurance protections lost by HCO […]
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.
