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Pension Rights Center

Proposal to slash Teamsters' pension benefits to be discussed tonight

News Item

Facing cuts in their promised pensions of 30%, 50% and even more, retired Teamsters on Wednesday evening blasted the "rescue plan" that the Central States Pension Fund says it needs to save it from going broke.

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This is what we do: help people

Blog entry

My colleague Kyle often brings to my attention news articles that might merit a response from us. Sometimes the article contains a factual error. Sometimes we disagree with a statement in the article and write an opposing view in a letter to the editor. Sometimes we have additional information to add. 

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Retirement Issue Gets Presidential ‘I Beg Your Pardon?’

News Item

The race to the Oval Office is shaping up, and people like Brianna Buch are noticing one sizable employment issue is getting little attention from presidential candidates: retirement.

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Why Retirees Are Losing Their Pensions (AUDIO)

News Item

You didn't read wrong. Retirees, after working for 30 years or more, will lose up to 70% of their pensions. These are some of our neighbors & friends. As a result of Congress' 2015 omnibus spending bill, the pensions of up to 400,000 Americans, many of whom spent lifetimes working here, will see their pensions evicerated.

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Teamsters Local 371 organizes to protest pension cuts

News Item

Fred Lowry, a truck driver for 57 years, is facing a cut of $10,000 a year from his $33,600 annual pension unless federal action is taken on a controversial pension restructuring plan.

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Retiree benefits are facing many threats

News Item

Retirees face a less secure future due to decisions soon to come from the U.S. Supreme Court, due to changes to Social Security and Medicare, and due to the enactment of the Kline-Miller Multiemployer Pension Reform Act. They deserve full disclosure and the truth.

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So, You Think That You Have The Right To A Pension?

News Item

As a baby boomer, my interest in pension plans has grown as I approach the magic age when "mailbox money" will appear in my bank account every month. When I entered the workforce in the late 1970s, pension plans were a foundation of every employment contract along with a monthly salary and health insurance.

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Lawmakers Announce Principles for Bill As Alternative to DOL Fiduciary Rule

News Item

A bipartisan group of House lawmakers teamed to release a set of "best interest" principles to form the basis of financial education and advice legislation they are developing to counter the Department of Labor’s proposed fiduciary rule.

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Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)

Regulations

The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding all conflicts of interest unless they are expressly allowed.

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Plucking people’s pensions

News Item

That’s what’s happening for some folks who are giving up rights to future pension payments, reports The Washington Post’s Jonnelle Marte. It’s called pension advances, which offer retirees a lump-sum cash advance in exchange for all, or part, of their future pension payments, according to Marte.

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