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Church pension plans

Milwaukee archdiocese pension funds fall short

News Item

Three pension funds operated by the Archdiocese of Milwaukee for priests, lay employees and unionized cemetery workers have unfunded liabilities totaling $41.8 million, according to documents filed as part of the archdiocese's bankruptcy proceedings.

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IRS Issues Revenue Procedure Requiring Notices of Requests for Church Plan Status

News Item

The Internal Revenue Service issued a revenue procedure and model notice Sept. 21 requiring church plans to notify participants and other interested parties if a plan applies to IRS for a letter ruling on church plan status. [Reproduced with permission from BNA Pension & Benefits Reporter, 38 BPR 1743 (Sept. 27, 2011). Copyright 2011 by The Bureau of National Affairs, Inc.

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Pension Rights Center Applauds IRS for Opening “Church Plan” Rulings Process to Comments by Employees and Retirees

News Release

The Internal Revenue Service has issued a long-awaited revenue procedure clarifying the process for retirement plans to apply for “church plan” status.

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Chilean miners get lifetime pensions, but …

Blog entry

A smile came to my face when I first saw the headline, Lifetime pensions awarded to 14 of the trapped Chilean miners. Of course the miners deserve pensions.

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Anticipated IRS Guidance on Church Plans May Be ‘Too Little, Too Late

News Item

A much-anticipated revenue procedure pertaining to church plans, which is in clearance at the Treasury Department, may be, as one practitioner described it, ‘‘too little, too late’’ for participants who have lost pension benefits they expected they would receive.

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Workers and Retirees Lose Pensions - and Take Action!

Blog entry

On New Year's Eve, current and retired employees of Augsburg Fortress, the publishing arm of the Evangelical Lutheran Church in America, learned that their traditional defined benefit pension plan would be terminated and that they could lose a substantial portion of their benefits as a result of the termination.  More...

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