PRC letter to the Dept. of Labor urging it to include people without internet access in a proposed survey on benefit statements (03/20/2013)
March 20, 2013: The Pension Rights Center wrote to the Department of Labor (DoL) to request that a proposed survey about benefit statements for individual account plans include people who don’t use or have access to a computer. The Center also encouraged DoL to perform a similar survey for benefit statements of traditional defined benefit […]
How to Find Your Lost Pension Money
It’s not unusual for a worker to lose track of a pension benefit. Perhaps you left an employer long ago and forgot that you left behind a pension. Or maybe you worked for a company that changed owners or went belly up many years ago, and you figured the pension went with it…but you might […]
Dow Jones Hits ‘Record High’ Thanks To Strong Performances From Smoke, Mirrors Sectors
This week, amid the hullabaloo over President Barack Obama’s Deficit Dinner Diplomacy, and Sen. Rand Paul’s 13-hour filibuster-cum-dissertation on drone strikes and civil liberties, financial news-watchers touted a milestone in their lives of Market Worship. We speak, of course, of the Dow Jones Industrial Average, which on Tuesday hit an “all-time high” of 14,253.77.
The Future of Retirement: Pensions
Panelist Karen Friedman discusses the state of the “American Dream” and disappearing pensions with host Frank Sesno.
Free help to find lost pensions
The New England Pension Assistance Project, based at UMass. Boston, will counsel people on ways to track down pension benefits for which they may qualify.
Remarks by Karen Friedman at the 2013 NAPA/ASPPA 401(k) SUMMIT (March 3, 2013)
Karen Friedman participated in a panel discussion on the strengths and weaknesses of 401(k) plans at a conference sponsored by the National Association of Plan Advisors and the American Society of Pension Professionals and Actuaries. Below are her remarks. Are 401(k) Plans a Failed Experiment? QUESTION ONEWhat are the weaknesses of 401(k) plans? Brian, thank […]
Have 401(k)s Failed Participants?
Experts argue merits, areas for improvement to 401(k) plans
PRC comments to the IRS on recommendations for proposed e-signature standards (03/01/2013)
The Pension Rights Center submitted comments to the IRS in response to Internal Revenue Bulletin 2013-4, Announcement 2013-8. The Center reiterated its opposition to electronic method, such as e-signatures, as the default method of communicating information related to retirement plans. Read the comments. [PDF]
Statement of the Pension Rights Center in support of HB 6145 (February 26, 2013)
On February 26, Karen Friedman testified before the Committee on Labor and Public Employees of the Connecticut General Assembly in support of H.B. 6145, “An Act Providing Protection to Retirees from Discrimination in Pension De-Risking Strategies.” Below are her remarks. Mr. Chairman, Members of the Committee, my name is Karen Friedman, and I am […]
Statement of the Pension Rights Center in support of SB 885 (February 26, 2013)
On February 26, Karen Friedman testified before the Committee on Aging of the Connecticut General Assembly in support of S.B. 885, “An Act Establishing a Task Force to Evaluate the Utility of Creating a Public Retirement Plan.” Below is her written testimony. Senator Ayala, Representative Serra, Members of the Committee, thank you for this […]
More Plan Sponsors Intend to Offer Pension Cash-Out Option, Survey Finds
Nearly four in 10 employers with defined benefit plans say they are at least somewhat likely to offer terminated vested participants and/or retirees a lump-sum option during a specified time period in 2013, compared with 7 percent that actually made such a move in 2012, according to survey results released Feb. 13 by Aon Hewitt. […]
A crucial step toward retirement security for the working class
The state has launched a plan to enable low-wage earners to put aside 3% of their pay for retirement. But it’s going to take more than two years to get it going.
