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PRC Perspectives Blog

Wall Street Journal article highlights “harsh” pension practice

Posted by Karen Friedman on August 06, 2018

This weekend’s edition of the Wall Street Journal features a front page article by Theo Francis highlighting pension plans’ practice of trying to recover money they have mistakenly paid their retirees, often years later when the retiree cannot afford to pay back the money.

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Inspiring trip to Columbus brings hope for multiemployer solution

Posted by Karen Friedman on July 16, 2018

I flew into Columbus, Ohio last Thursday to join with 12,000 retired and active miners, truck drivers, warehouse workers, ironworkers, spouses, and others who were part of a historic rally on the lawn outside the Ohio statehouse urging Congress to fix the pension crisis and keep pension promises.

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Dividing retirement benefits at divorce shouldn't be this hard

Posted by Emily Spreiser on June 19, 2018

For many people going through a divorce, obtaining a fair share of a former spouse’s retirement benefit is essential to ensuring financial security in old age. This is especially true for individuals who worked in the home while they were married, caring for children or sick or elderly relatives.

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Congress should read new PBGC report and act fast to solve multiemployer crisis

Posted by Karen Friedman on June 12, 2018

If Congress and the Joint Select Committee on the Solvency of Multiemployer Plans need any further proof that they should act to solve the multiemployer crisis, all they need to do is read the latest report from the Pension Benefit Guaranty Corporation (PBGC).

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A Stanley Cup Vision for Retirement

Posted by Karen Friedman on June 08, 2018

I went crazy with happiness last night when the Washington DC Capitals (Caps) beat the Golden Knights to capture the Stanley Cup, the beautiful silver trophy awarded to the team that wins the playoffs in hockey. The Capitals have waited 44 years for this win – and it couldn’t be sweeter for the teammates or their fans!

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Pension counselors come to Washington D.C. for National Training Conference

Posted by Emily Gilbert on May 17, 2018

Last week, we held our annual National Training Conference for the U.S. Administration on Aging Pension Counseling and Information Program. There are six regional pension counseling projects across the country that provide free legal help to people in 30 states who have retirement plan problems or questions. Every year, attorneys from the projects come to Washington D.C.

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Joint Select Committee focuses on multiemployer basics, asks for public comments

Posted by Karen Friedman on April 20, 2018

On Wednesday, at the first hearing (and second public meeting) of the Joint Select Committee on Solvency of Multiemployer Pension Plans, one fact became abundantly clear: the problem of multiemployer plans is complex and finding a solution to the issue is also going to be a challenge.

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Senate Lost and Found bill would help many retirees but would harm others

Posted by Jane Smith on March 19, 2018

Originally introduced in 2016 by Senators Elizabeth Warren (D–MA) and Steve Daines (R–MT), the Retirement Savings Lost and Found Act of 2016 (S. 3078) would have been a great help to the many retirees who are now searching for their earned retirement benefits. The Pension Rights Center wholeheartedly supported that bill. Unfortunately, a new version of the bill introduced in 2018 (S.

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Joint Select Committee starts process to save multiemployer system

Posted by Emily Gilbert on March 14, 2018

Today I went to the first public meeting of the newly-formed Joint Select Committee on Solvency of Multiemployer Plans. Based on the comments of Committee members we are hopeful that they will put aside their differences and work in a bipartisan fashion to develop a fair and comprehensive solution to the multiemployer crisis by year’s end.

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Tax breaks for retirement plans should benefit more people

Posted by Jane Smith on January 22, 2018

The tax law enacted in December 2017 generated much discussion about “tax breaks” – who benefits from them and whether those benefits are distributed fairly. While most people are familiar with tax breaks such as the home mortgage interest deduction, there is less awareness of the tax breaks for retirement plans, and their impact on federal revenues and programs.  

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