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PRC Perspectives Blog

In case you missed it

Posted by on August 10, 2009

Here's some of the latest news from the world of pensions More...

In case you missed it

Posted by on July 28, 2009

Here's some of the latest news from the world of pensions More...

Can we call you, Al?

Posted by Nancy Hwa on July 21, 2009

When writer-comedian Al Franken was sworn in as Minnesota's junior Senator on July 7, I was intrigued to hear that he will be serving on the Committee on Health, Education, Labor, and Pensions (also known as the Senate HELP Committee). Not surprisingly, this is one of the committees that we deal with the most, and I wondered what kind of positions Senator Franken would take on retirement income issues. More...

In case you missed it

Posted by Joellen Leavelle on July 16, 2009

Here's some of the latest news from the world of pensions More...

Older Americans Act celebrates an anniversary

Posted by Rebecca Davis on July 14, 2009

Today marks the 44th anniversary of the Older Americans Act, a federal grant program that helps millions of older adults throughout the country.  One of the programs funded by the Older Americans Act is the Administration on Aging's Pension Counseling and Information Program, which supports regional pension counseling projects around the country.  These nonprofit counseling projects provide free legal assistance to individuals who have questions about their pensions and retirement savings plans.  Since their inception, the projects have recovered more than $75 million on behalf of their clients, representing a return of 5-to-1 for every federal dollar invested in the program. More...

A retirement reality check

Posted by Joellen Leavelle on July 10, 2009

A new study released by the Ariel Education Initiative and Hewitt Associates and funded by the Rockefeller Foundation confirms what many researchers and retirement policy experts have known for a while now: When it comes to providing retirement income, 401(k) plans just aren't cutting it for many minorities. More...

Relighting the match

Posted by Joellen Leavelle on July 08, 2009

Last week Zep Inc. announced plans to reinstate its 401(k) matching contributions.  This move comes six months after the company suspended its match and cut executive pay to reduce costs.  At the time, Zep's CEO said that restoring the match would be the top priority when the company returned to profitability.  Currently, Zep is restoring its match to half the level it was before the suspension, but the company expects to fully restore the match by January. More...

Pension Tension: Bankruptcy and Pensions

Posted by Joellen Leavelle on June 16, 2009

The recent bankruptcies of Chrysler and General Motors have caused a lot of workers to be concerned about their pensions. While Chrysler has now emerged from bankruptcy GM is still going through the bankruptcy process and the question. "What will happen to my pension?" is very much on the minds of workers and retirees in the automotive sector - and elsewhere. More...

Does it have to be all or nothing?

Posted by Rebecca Davis on June 11, 2009

For the past several months, the PRC has been maintaining a list of companies that have reduced or stopped matches to their 401(k) plans.  When the economy takes a turn for the worse as it has in the past year, companies view cutting 401(k) matches as an easy way to reduce costs.  Recently, Business Management Daily published an article for employers on how to break the news to employees and how to encourage employees to continue saving despite the loss of the match.  More...

Success!

Posted by Rebecca Davis on May 14, 2009

Today the IRS announced new tax "withholding adjustment procedures" for pension plans today, repairing a problem that we raised in a letter to the Treasury Department on April 1.  More...

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