Archives: Resources
The Illinois Secure Choice Savings Program Act
On January 4, 2015, Illinois Governor Pat Quinn signed into law the Illinois Secure Choice Savings Program Act (Public Act 098-1150). Introduced as S.B. 2758 by Illinois Senator Daniel Biss, the Act passed the State legislature in 2014. With the Governor’s signature, Illinois becomes the first state to fully enact legislation requiring that private-sector employers […]
Cash Balance Plans
A cash balance plan is a pension plan that has certain features of a 401(k) plan. A number of companies have converted their traditional pension plans into cash balance plans. This fact sheet describes cash balance plans and outlines the differences between a cash balance plan and a traditional pension plan, and between a cash […]
Tibble v. Edison
The Pension Rights Center filed an amicus brief in support of the plaintiffs in Tibble v. Edison. (12/09/2014) On May 18, 2015, the Supreme Court issued a decision in favor of the plaintiffs.
Pension Freezes
See our list of companies that have frozen or made significant changes to their pension plans. What does it mean to “freeze” a pension plan? When a company freezes its pension plan, some or all of the employees covered by the plan, stop earning some or all the benefits from the point of the freeze […]
Facts About Multiemployer Pension Plan Funding
This fact sheet explains funding issues in multiemployer pension plans and how the guarantee limits set by the Pension Benefity Guaranty Corporation could impact your multiemployer plan pension. Related: Read our summary of the pension cutback provisions (part of the Multiemployer Pension Reform Act of 2014) that were included in the 2014 Omnibus spending law. See a list of […]
The facts about church pension plans
Almost all private retirement plans are required to comply with federal pension and tax laws. There is only one major exception: Church pension plans. Employees covered by church pension plans are denied the basic protections provided to virtually all other private-sector workers who participate in pension plans. Church plans: Do not have to give employees […]
Bill would regulate pension advance schemes marketed to federal and military retirees
On October 23, 2013, Representative Matt Cartwright (D-PA) introduced H.R. 3310, the Annuity Safety and Security Under Reasonable Enforcement Act of 2013 (ASSURE Act). The bill would regulate pension advance loans and any pension-related product offered to military and federal retirees that limit the retiree’s ability to control payments from his or her own pension. […]
Spokeo v. Robins
The Pension Rights Center filed an amicus brief to the U.S. Supreme Court in support of the plaintiff (respondent) in Spokeo v. Robins.
“NAFI” Plans: Federal Retirement Programs Not Funded by the Government
This fact sheet provides an overview of retirement plans that are sponsored by government entities that do not receive funding from Congress. What are Non-Appropriated Fund Instrumentality Retirement Plans? NAFI Retirement Plans are retirement plans sponsored by government entities known as Non-Appropriated Fund Instrumentalities (NAFIs). NAFIs are part of the federal government but they do […]
Connecticut Secure Retirement Plan
On May 7, 2014, the Connecticut General Assembly passed a “budget implementer” bill that includes provisions to lay the groundwork for a new state-administered retirement savings plan for private-sector workers who do not have an employer-provided pension or retirement savings plan. The bill allocates $400,000 toward the establishment of a Connecticut Retirement Security Board and […]
State Plans and Survivor Rights Information
Alabama Retirement Systems of Alabama What is required on benefit election forms? Spousal consent not required. Notes: Default option provides no survivor benefit. Source: AL State Code: §36.27.16 AL Administrative Code: 800-2-1-03 Alaska Alaska Division of Retirement and Benefits What is required on benefit election forms? Spousal consent required Notes: Survivor benefit provided by default. […]
State Retirement System Rules on “Spousal Consent”
Does your husband or wife work in a job covered by a state retirement system? If so, it is important for you to know if you have a say in whether you will receive a pension if you outlive your spouse. In private-sector pension plans, husbands and wives who outlive their spouses automatically receive a […]
