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PBGC

PBGC may need a financial safety net of its own

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Forty years after it was created, the future of the federal agency that guarantees employees' and retirees' pension benefits is in doubt.

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Multiemployer pensions rescue buys the PBGC some time

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While experts may disagree on the strength of the Pension Benefit Guaranty Corp.’s insurance program for single-employer pension plans, there is a broad consensus that lawmakers had to act last year to prevent the collapse of big, underfunded multiemployer pension plans, and with that the PBGC’s multiemployer insurance program.

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Got a pension? Act now to save it

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If you were among the 15.7 million private-sector workers with a traditional defined benefit pension plan in the U.S. in 2012, now might be good time to stop counting your blessings.

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Union retirees fear dramatic pension cuts under new federal law

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Bill Hendershot and his wife live on his union pension and Social Security. Hendershot, a retired Consolidated Freightways long-distance truck driver, gets around now in a 12-year-old Toyota Corolla.

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PBGC report highlights importance of pension counseling

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We at the Pension Rights Center have long recognized the important role that U.S. Administration on Aging’s Pension Counseling and Information Program (PCIP) plays in protecting the legal rights of retirees and their families.

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Court Watchers Looking at Plan Fees, Retiree Benefits, Church Plans in 2015

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Just as 2014 brought big rulings on stock-drop litigation and equitable remedies like reformation and surcharge, 2015 is shaping up to be another big year for ERISA litigation, with pending cases involving retiree health benefits, plan fee cases and ERISA's church plan exemption.

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Multiemployer, 4062(e) Changes Enacted, And Now It's Time to See How It Shakes Out

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Congressional negotiations over a budget bill late last year introduced a landmark change to ERISA on the law's 40th anniversary: To preserve their multiemployer defined benefit plans, trustees and participants can now voluntarily decide whether to reduce benefits instead of waiting for plan insolvency.

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Congress punishes retirees for company lapses

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When Congress passed the spending bill in December to keep the government running, a hidden provision in the act sent shivers of fear into the retirement industry. The provision allows underfunded multi-employer pension plans to reduce benefits for retirees so the government pension insurance fund won’t have to bail out the plans.

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That solid pension benefit? It may be subject to change

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In the fine print of the federal budget compromise, troubled pension plans now have the right to reduce benefits

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Pension law change alarms retiree groups

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Forty years after Congress took steps to guarantee that retirees get the pensions they were promised, another generation of lawmakers has taken a chisel to those legal protections.

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