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Loopholes in the law

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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Unfair Pension Takebacks: What Can Be Done to Protect Retirees

Publication

Recoupment occurs when a pension plan administrator erroneously overpays pension benefits to retirees. Often these overpayments are made for many years before anyone realizes that a mistake has been made. When a plan finally realizes it has made a mistake, it corrects future payments and recoups the overpaid amounts either by reducing future payments or demanding a lump sum.

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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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"Wake Up, Washington!" on Women and Retirement

Blog entry

As we approach the end of the second week of Retirement USA's "Wake Up, Washington!" Month" we have learned a great deal about the challenges women face in retirement. Women face special challenges because they make less than men and spend less time in the workforce.  Yet they typically live longer than men, requiring more retirement income.  As Retirement USA's Facts of the Day have shown, women have far less retirement security than men.  More...

And the rich get richer...

Blog entry

Certain rules in the Internal Revenue Code are designed to prevent employers from discriminating against non-highly paid employees in their pension plans. Unfortunately for the retirement security of their employees, some employers look for ways to get around the nondiscrimination rules. More...

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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