PRC In the News

‘I’ll be robbed twice in one lifetime’: Retirees fearing financial disaster wait for pension rescue

For Carol Podesta-Smallen, the pain of a broken promise grows worse with time. The Garfield, N.J., retiree framed her first pension check, along with a picture of herself and her husband. “That was our retirement,” she says, referring to the monthly benefit she earned after 26 years as a clerical worker.

Blogs & Newsletters

Leaders Schumer and Pelosi make pension bill a top priority

By Emily Gilbert I was so glad to be able to accompany Karen Friedman, PRC’s EVP to a media event on Capitol Hill in support of the Butch Lewis Act of 2017. I started as an intern with PRC just 4 months ago and I’m so excited to be able to be part of a […]

Press Release

Senator Sherrod Brown and Congressman Richard Neal Introduce bills to save financially troubled multiemployer plans and protect retirees

WASHINGTON – The Pension Rights Center released letters today strongly endorsing new multiemployer legislation introduced by Senator Sherrod Brown (D-OH) and Congressman Richard Neal (D-MA).  The “Butch Lewis Act of 2017” and its House companion bill “The Rehabilitation of Multiemployer Pensions Act”  provide an innovative way to avoid retiree benefit reductions by providing relief to […]

PRC In the News
07/24/17|CBS MoneyWatch

Another blow for heartland workers: Slashed pensions

February was a bad month for Larry Burruel and thousands of other retired Ohio iron workers. His monthly take-home pension was cut by more than half from $3,700 to $1,600.

PRC In the News
05/16/17|Lexington Herald Leader

Now to save coal miners’ pensions

The pension crisis threatens almost 120,000 miners and widows, including 9,000 in Kentucky, and will be thornier than health care to fix because it’s part of a wider problem.

PRC In the News
05/16/17|Albany Times Union

Union pension crisis threatens retirement funds

John Raffiani’s retirement didn’t last long. Facing a steep cut in his Teamsters trucking pension, the 70-year-old Greene County man went back to work more than a year ago after a short time away from full-time labor.

Press Release

Retirees to Congress: Protect Our Pensions!

Senator Bernie Sanders and Rep. Marcy Kaptur Reintroduce Bill to Save Retiree Pensions WASHINGTON – The Pension Rights Center joins retirees, members of Congress and others in declaring today a Day of Action to call attention to the threats to the retirement security of millions of workers and retirees covered by the financially-troubled multiemployer pension […]

PRC In the News
04/27/17|Kiplinger's Retirement Report

Pensioners Fight Back Against Cuts

The Pension Rights Center’s Karen Friedman discusses a new pension law that could negatively impact millions of retirees.

PRC In the News
04/24/17|Bloomberg BNA

Flurry of Pension Rescue Filings May Indicate Renewed Confidence

Four more financially beleaguered multiemployer pension plans are testing the rescue application waters, seeking Treasury Department permission to cut benefits.

PRC In the News
04/24/17|Washington Free Beacon

20,000 Union Members, Retirees at Risk of Losing Pension Benefits

“The guy who worked harder got hit the hardest,” Wargo said. “If you could prove that it [the cuts] would keep the plan solvent for 100 some odd years I’d take it, but it’s baloney. There are other ways this could have been mended instead of singling out a group of people.”

PRC In the News
04/18/17|Albany Times Union

Teamsters get a reprieve from pension cuts

Thousands of upstate retired Teamsters have dodged a potential pension cut, at least for now, thanks to a recent decision by the federal government.

PRC In the News
03/26/17|Pensions & Investments

PBGC girds for pending union plan catastrophe

Only one struggling multiemployer pension fund has landed on the doorstep of the Pension Benefit Guaranty Corp. so far after failing to win Treasury Department approval to reduce benefits, but the agency’s dire financial condition has officials predicting painful cuts for more than 1 million multiemployer plan participants projected to need its help.