Archives: Resources
Why People Need Pensions
Millions of Americans are heading toward an inadequately funded retirement. Without adequate income, older adults will lack the resources that enable them to live independently, afford health care, and continue to contribute to society. While Social Security has kept the majority of older adults from sinking into destitution, far too many retirees are having trouble […]
Pension Challenges and Opportunities
The nation’s $10 trillion pension system is facing formidable new challenges. Companies that once provided traditional employer‐paid pensions as a standard part of their compensation packages – giving individuals a guaranteed stream of income with security in their later years – are retreating from them in favor of 401(k) plans that shift the burden and […]
Phased Retirement
What is phased retirement? The term phased retirement refers to programs in which workers can reduce their working hours in lieu of immediate retirement. An employee would draw a reduced salary, which she would supplement with distributions from her employer’s retirement plan. Such plans can in some circumstances be positive for both the employee and […]
Impact of Annuitization (May 3, 2010)
The Department of the Treasury and the Department of Labor issued a joint Request for Information (RFI) regarding the impact annuitization may have on workers participating in retirement plans. Read the Pension Rights Center’s response. PRC was also a part of the Women’s Pension Coalition response. In September 2010, Rebecca Davis testified at a joint […]
401(k) fee disclosure (July 24, 2007)
The Department of Labor submitted a Request for Information on the issue of 401(k) fee disclosure to plans and participants. The Pension Rights Center submitted comments.
Hirt v. Equitable Retirement Plan
The PRC also submitted an amicus brief supporting the plaintiffs in Hirt v. Equitable Retirement Plan, a cash balance case heard in the Second Circuit. Read our brief encouraging the Second Circuit to reject the Seventh Circuit’s holding in Cooper v. IBM and instead find that cash balance plan formulas violate ERISA. (3/29/2007)
Milofsky v. American Airlines
The PRC supported the plaintiff in Milofsky v. American Airlines. The case decided by the U.S. Court of Appeals for the 5th Circuit ruled that a group of plan participants that did not represent all plan participants, could nevertheless sue for breach of fiduciary duty. The participants claimed they were harmed because their pensions were invested […]
LaRue v. DeWolff, Boberg & Associates
The PRC supported the plaintiff in LaRue v. DeWolff, Boberg & Associates, a case now pending before the U.S. Supreme Court. The case will determine whether an individual participant in a 401(k) plan can sue to recover losses that did not affect all (or many other) plan participants. Read our summary on the LaRue case. Read our brief supporting the […]
