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Benefit cutback

Thought Secure, Pooled Pensions Teeter and Fall

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The pensions of millions of Americans are being threatened because of trouble in a part of the retirement world long considered so safe that no one gave it a second thought.

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Karen Friedman appears on MSNBC's Melissa Harris-Perry Show [VIDEO]

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PRC Executive Vice President and Policy Director Karen Friedman was a panelist on the Melissa Harris-Perry Show to discuss pensions and the retirement income crisis.

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Karen Friedman appears on the Michael Finney Show [AUDIO]

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PRC Executive Vice President appeared on the Michael Finney Show to talk about recent legislation that expands pensions and attacks on retirees benefits. Karen's segment begins at approximately 24:40 into the program and lasts 15 minutes.

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Multiemployer Plans in the Spotlight, But Congress May Broaden Retirement Focus

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The sunset of Pension Protection Act multiemployer plan provisions at the end of 2014 could provide Congress and others with the impetus to finds ways to change the U.S. retirement system.

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Motor City Madness

Blog entry

You’ve probably already heard that a judge has decided to allow the city of Detroit to file for Chapter 9 bankruptcy, which would make the Motor City the largest municipality in the country to do so. The judge also ruled that pensions for the city’s workers and retirees can be cut as part of the bankruptcy process. Not surprisingly, the Pension Rights Center is appalled by this decision.

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Retirement crisis grows as cities raid pension and health plans

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Across America, states, counties and cities are taking steps that will make retirement for ex-public employees much harsher. Courts, politicans and corporations are all working together to chip away at deferred wages: reducing pensions or eliminating promised healthcare, or both. Said simply, they’re looting retirements and pushing people toward poverty.

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PRC on the Detroit Bankruptcy: Allowing Cuts to Retirees’ Pensions is “Unprecedented and Unconscionable”

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The Pension Rights Center released a statement reacting to Judge Steven Rhodes’ decision to permit the city of Detroit to reduce pensions by entering Chapter 9 bankruptcy:

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Retired union workers facing 'unprecedented' pension cuts

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Hundreds of thousands of retired union workers are facing pension cuts that could slash their monthly payments in half — or even more.

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Pilfering Your Pension [audio]

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PRC Executive Vice President and Policy Director Karen Friedman appeared on the Heartland Labor Forum to discuss the retirement income crisis and the threat of unprecedented cuts to earned pension benefits. Segment begins at approximately 35:00 in the program.

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Pension rights group objects to cutting retiree benefits

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The Pension Rights Center agrees that many multiemployer pension plans are in financial distress right now, and that reforms are needed, but it told a House committee this week that it doesn’t agree with the idea of cutting existing benefits to retirees.

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