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The Pension Rights Center is mentioned in articles where you see the PRC icon.

New law lets some pension plans cut promised benefits

12/19/2014 | Washington Post

For some retirees, Congress has played the Grinch this holiday season. Tucked into the federal spending bill were provisions that will allow certain struggling multi-employer pension plans to reduce benefits already being received by retirees.

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Prudential Piles on the Corporate Pensions

12/18/2014 | Bloomberg BusinessWeek

Big U.S. companies have found a way to escape the burden of ballooning pension obligations: pay an insurance company to take them over.

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After the new federal pension rules: What retirees need to know

12/18/2014 | Reuters

Buried in the $1.1 trillion "Cromnibus" legislation signed this week by President Barack Obama was a provision that aims to head off a looming implosion of multiemployer pension plans - traditional defined benefit plans jointly funded by groups of employers. More...

Latest News Releases (View all)

PRC Statement on Retiree Pension-Cut Legislation Included in Omnibus Bill

12/17/2014

Washington – On December 16, President Obama signed the 2015 Omnibus spending bill. The new law contains provisions that allow certain underfunded multiemployer pension plans to cut retirees’ benefits. The Pension Rights Center released the following statement from Executive Vice President Karen Friedman:

 

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House Votes to Allow Pension Plan Trustees to Reduce Retiree Benefits

12/12/2014

Washington – The Pension Rights Center released the following statement from Executive Vice President Karen Friedman, following the passage by the U.S. House of Representatives of an omnibus spending bill that includes measures that allow certain underfunded multiemployer pension plans to cut retirees’ benefits:

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Congress’ Holiday Present to Retirees: Slashing Their Pensions

12/10/2014

Policymakers say “Ho, Ho, Ho”…Retirees say, “NO, NO, NO” 

Washington – Today, the Pension Rights Center released the following statement from Executive Vice President Karen Friedman, urging the House Rules Committee not to include legislation cutting retiree pensions in the omnibus spending bill. 

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Speeches, Statements, and Letters (View all)

PRC letter to Congress opposing "stealth" provisions that would cut retiree benefits in multiemployer plans

12/03/2014

The Pension Rights Center sent a letter to every member of Congress, urging them to oppose measures that would allow certain multiemployer plans to cut the earned benefits of retirees.

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PRC letter to OMB, supporting the collection of additional information from terminating pension plans (November 18, 2014)

11/18/2014

The Pension Rights Center sent a brief letter to the Office of Management and Budget in support of the Pension Benefit Guaranty Corporation’s request to require addi

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