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Missing Pensions Costly to Retirees

06/03/2016 | Kiplinger's Retirement Report

People who have earned a defined-benefit pension seem to be in an enviable position -- retiring with the promise of a steady income stream for life. But it's not so enviable if the promised benefits don't show up. And an investigation by the U.S. Department of Labor is finding that many retirees aren't getting the benefits they've earned. More...

When Your 401(k) Is Better for Your Employer

06/03/2016 | New York Times

Is your retirement plan set up to benefit you or your employer? Such a question may seem out of place. After all, the Employee Retirement Income Security Act of 1974, known as Erisa, requires overseers of 401(k) plans and other benefit programs to ensure they are run safely, soundly and in participants’ best interests. More...

Retirees Win Round One

05/31/2016 | Labor Notes

Who could have predicted a year ago, as Congress-sanctioned pension cuts gathered momentum, that thousands of retired truckers self-organizing in diners and union halls across Middle America would manage to apply the brakes?

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Supreme Court Hands Verizon Retirees Victory In Pension Spinoff Case

05/24/2016 | Advisor News

In a significant victory for a group of Verizon retirees whose pensions were spun off by the company, the U.S. Supreme Court vacated a lower court decision and sent the case back to be re-evaluated, giving the class action suit, advanced by the Association of BellTel Retirees Inc (BellTel), a significant shot in the arm.

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Big pensions add to city's retirement fund woes

05/23/2016 | Philadelphia Inquirer

The median private-pension benefit of individuals age 65 and older was $9,227 a year in 2014, according to the Pension Rights Center, a nonprofit advocacy group based in Washington. That same year, the median state- and local-government pension benefit was $14,158.

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`Zombie' Pension Plans Need Autopsies, Financial Watchdog Says

05/20/2016 | Bloomberg BNA

The finances of the Central States pension fund, like those of other dead or dying “zombie” pension plans, need to be investigated, a financial watchdog said.

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Treasury Is Right to Block Subpar Settlement

05/19/2016 | The Wall Street Journal

The Treasury Department rejected the Central States Pension Fund’s application to cut thousands of retirees’ benefits by 40%-70%, not because it was “nitpicking” but because the application was legally flawed and didn’t meet the conditions set forth by the Multiemployer Pension Reform Act of 2014 (MPRA).

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Central States pension decision: Pyrrhic victory for Teamsters

05/19/2016 | BenefitsPro

Soon after the Treasury Department announced it was rejecting the Central States Pension Fund’s application to cut retiree benefits in a bid to stave insolvency, the International Brotherhood of Teamsters and their supporters were quick to applaud the decision.

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Teamsters pension fund won’t propose another plan to cut benefits

05/19/2016 | Belleville News-Democrat

The struggle to fix a Teamsters retirement fund took another turn Thursday when the Central States Pension Fund said it will not propose another plan to prevent the fund from running out of money in 10 years. Instead, Central States Pension Fund wants Congress to pass legislation to protect pension benefits.

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