PRC Perspectives Blog

April 1, 2014 – Many of the country’s highest-paid CEOs have decided to give up their exorbitant compensation packages to pay their workers better wages and higher pensions. This announcement comes as part of the “Corporations are Really Good People Campaign.” 

Every few months, a financial services company releases numbers touting the success of 401(k) plans. 401(k) account balances are higher than ever! 401(k) plans are working just fine! There is no retirement crisis!

However, like magicians, these firms don’t want you to see what's behind the numbers.

If you’re an AOL employee who went away for a long weekend you might have missed the hubbub about your 401(k) plan.

You’ve probably already heard that a judge has decided to allow the city of Detroit to file for Chapter 9 bankruptcy, which would make the Motor City the largest municipality in the country to do so. The judge also ruled that pensions for the city’s workers and retirees can be cut as part of the bankruptcy process. Not surprisingly, the Pension Rights Center is appalled by this decision.