Jump to Navigation
Jump to Content

In the News

Some news web sites require free registration to read the entire article, and some links may expire within several days after the article's publication date.

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

Labor Department’s Fiduciary Proposal: Key Provisions to Watch

10/01/2015 | Wall Street Journal

The battle over the U.S. Labor Department’s proposal to require financial advisers to put retirement investors’ interests ahead of their own has been fierce, with financial advisers, investor advocates and many financial-services companies watching every twist and turn in this multiyear saga.


Controversial Pension Advance Industry Flourishes With Little Federal, State Scrutiny

10/01/2015 | International Business Times

Effectively unregulated in all but two states, pension advance outfits offer lump-sum payments in exchange for a claim on future pension payouts, often from military retirees. As recent reports from the Government Accountability Office have found, the effective interest rates can be astronomical. In California, rates ranged as high as 84 percent, 7 times the state’s legal maximum. More...

PBGC says union pensions facing less risk

09/29/2015 | Bankrate.com

Multiemployer pension plans, those operated by unions on behalf of workers who are or were employed by more than 1 company in a particular industry, are facing less risk than they were last year. But the outlook is still not very good, according to a report issued Monday by the Pension Benefit Guaranty Corporation, or PBGC, the federal agency that guarantees private pensions.


Teamsters Protest as Treasury Debates Allowing Pension Cuts for 1.5 Million Retirees

09/17/2015 | In These Times

About 300 angry Teamsters descended on Washington, D.C., September 10, demanding federal action to protect the pensions of union members threatened with benefit cuts. The retired Teamsters are among a group of as many as 1.5 million retirees from a long list of different labor unions nationwide that could see their pensions slashed under a new law quietly approved late last year.


Proposed pension cuts have Teamster retirees worried

09/16/2015 | Columbus Dispatch

Retired truck drivers and other retirees who draw a pension from an underfunded pension plan expect to find out early this fall how much their pension will be cut.


Impassioned Voices Ring Loudly at Benefits Suspension Hearing Savings

09/15/2015 | Bloomberg BNA's Pension & Benefits Reporter

When crafting final regulations on suspending benefits under multiemployer pension plans, the IRS and Treasury Department should use the "maximum limits" of their authority to write rules that follow the law but are as fair as possible to workers and retirees, speakers said during an IRS hearing.


Retirees brace for hardship as multi-employer pension cuts loom

09/14/2015 | Chicago Tribune (syndicated)

Of all the negative financial surprises that can hit in retirement, learning a "guaranteed" pension could be severely cut is among the worst.


Is your adviser truly protecting your retirement?

09/11/2015 | Washington Post

There’s a discussion going on that is vital to the retirement money you’ve worked so hard to save. The Labor Department, directed by the Obama administration, is proposing that more advisers, when giving retirement investment advice, put their clients’ best interests first.


With union pensions in jeopardy, Ohio members plead with Congress and the feds

09/11/2015 | Plain Dealer

Alex Adams lifted his shirt so the panelists and audience could see the bandages and feeding tube. "This is how I eat," he said in a halting voice. 


Retirees, experts testify at Multiemployer Pension Reform Act hearing

09/10/2015 | Pensions & Investments

Federal regulators charged with implementing the Multiemployer Pension Reform Act of 2014 heard from concerned retirees and pension experts Thursday during a hearing convened by the IRS. More...