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COVID-19 Relief Bill Could Rescue Union Retirees' Pensions

02/23/2021 | Law360

The COVID-19 pandemic relief legislation set for a vote this week in the House contains a provision to save struggling union pension plans that experts say has a good shot at passing, forecasting a possible end to a $65 billion funding crisis that threatens one million retirees' pensions.

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Why We Need a New Approach to Retirement Income Planning

02/19/2021 | The Street

If you are feeling nervous about funding your retirement, you’re not alone. A survey of more than 3,200 baby boomers by financial firm Allianz found that more than 6 in 10 baby boomers feared running out of money before they died more than death itself. The reason for this anxiety is that retirement has changed significantly over the past decades.

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Pension Solvency Relief Gets Fresh Shot in Democratic Congress

01/19/2021 | Bloomberg Law

Saving underfunded pension plans from bankruptcy has a better chance of coming to fruition now that Democrats control both the White House and Congress.

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Pension Rights Center Aims to Protect the Retirement Security of Millions of Americans Through Resources and Advocacy

11/20/2020 | badcredit.org

In a Nutshell: Pensions help supplement the Social Security income of millions of retirees each year and were supposed to be paid out in full when a worker reached retirement. However, many workers who are owed benefits have found them dramatically reduced, or denied altogether. More...

Transfer of Power

11/10/2020 | Comstock's Magazine

In March, Truckee-based Mountain Hardware and Sports was up against the toughest test of its 43-year record of no layoffs. As the economy was going into a deep freeze, company president Doug Wright sent a letter to his staff on March 17.

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The spectre of pension failures haunts this election

10/28/2020 | The Hill

It’s imperative that a new COVID-19 relief package — whenever it’s passed — shore up multiemployer pensions (retirement plans negotiated by a union with two or more employers), because if this piece of the retirement system is allowed to collapse, it would not only hurt current and future pensioners, it would deal an outsized blow to the employers who contribute to their plans, and to the econo More...

Few powering up with electronic disclosure

10/19/2020 | Pensions & Investments

When the Department of Labor finalized a rule in May that permitted default electronic delivery of retirement plan disclosures, record keepers and plan sponsors welcomed the move by saying it will increase participant engagement and cut mailing costs.

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How to Find a Lost Pension Plan

09/29/2020 | U.S. News

Some people lose track of their pension plan from an old job. A company might merge with or be bought by another company and change its name, move to a new location in a different city or go out of business.

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How to Choose Between a Pension and Lump Sum Payout

09/11/2020 | AARP

In the midst of a COVID-19-induced sales slump, Honda recently offered early retirement to some of its U.S. workers 55 and older. 

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Retirement Savers Could Be Put At Risk By Proposed Rollover Rule, DOL Warned

09/03/2020 | Forbes

Retirement savers could be put at risk by a proposed Department of Labor rule on workplace retirement plan rollovers and lump sum distributions, DOL was warned today.

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