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Public pension plans

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

News Release

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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Spouses deserve an equal voice in retirement decisions

Blog entry

Preparing for retirement is a bit like competing in a marathon. It’s long and hard, and it requires a steady pace. It also requires information about the course ahead.

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Detroit Pensions Battle

News Item

PRC's Karen Friedman discusses the impact of Detroit's bankruptcy filing on retirees' pensions and the safety of pensions in general. Segment starts 8:00 minutes into the program.

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State Retirement System Rules on “Spousal Consent”

Publication

Does your husband or wife work in a job covered by a state retirement system? If so, it is important for you to know if you have a say in whether you will receive a pension if you outlive your spouse.

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Adjustable pension plan design begins to gain converts

News Item

A new pension plan design that allows employers to drastically reduce their risk while still providing lifetime income to participants is gaining support as an alternative to moving employees into a defined contribution plans.

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Young workers’ retirement hopes grow bleaker amid economic downturn

News Item

The economic downturn is pressing more employers to reduce pension benefits and significantly delaying when people launch their careers, darkening the already bleak picture that young workers face in saving for retirement.

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Questions Answered About Pension Plans

News Item

Readers recently submitted questions about pension plans to Mary Williams Walsh, a business reporter for The New York Times who has written about how companies manage their pension plans; what happens when companies go bankrupt; public workers’ pensions and how they may affect state and local finances; and Chapter 9 municipal bankruptcy.

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Companies pitch lump sums to dig out of pension holes

News Item

Former longtime employees of two big Atlanta companies recently got an intriguing offer – a check for tens or even hundreds of thousands of dollars.

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California Enacts Groundbreaking Pension Legislation

News Release

The Pension Rights Center and the Schwartz Center for Economic Policy Analysis (SCEPA) join in applauding Governor Jerry Brown for signing into law the California Secure Choice Retirement Savings Trust Act.

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Weak jobs rate in Michigan may be 'the new normal'

News Item

Labor Day means more than a chance to relax and eat hot dogs. It's also a time to reflect on the challenges facing the American worker. (NOTE: this article also appeared in USA Today.)

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