Month: September 2012
NFL sacks referees’ retirement security
If you’re a sports fan, chances are that you’ve heard about the standoff between the NFL and its referees. The impasse, resolved on Thursday, resulted in three weeks of officiating by replacement referees who, according to some, fumbled more calls than the players. For many, this would have been the news. However, we at the […]
PRC letter in support of California SB 1234 (09/28/2012)
The Pension Rights Center sent a letter to California Governor Jerry Brown, urging him to sign SB 1234, a bill that would expand pension coverage by establishing a state-based retirement plan for private-sector workers. Gov. Brown signed the bill. Read the letter. [PDF]
Women face host of obstacles to retirement
When Jeanne Majors, 63, took an early retirement in December 2005, she assumed that she would pick up a part-time job and be in good financial shape. She didn’t know that her future would quickly fall apart.
Will pension plans stage a comeback?
A looming retirement crisis prompts a rethink about DB and DC models
Speakers See Need to Simplify Pensions But Spar Over Changing Retirement System
Pension plans need to be simplified, agreed representatives of the pension plan community at a Sept. 20 roundtable discussion before the Senate Health, Education, Labor and Pensions (HELP) Committee. [PDF]
Comments to the IRS on reporting and notice requirements for deferred vested benefits (09/24/2012)
The Pension Rights Center submitted comments to the Internal Revenue Service on reporting and notice requirements for deferred vested benefits under Section 6057 of the Internal Revenue Code. Read our comments.
Delphi retirees gaining ground in fight to restore pensions
Many of the nation’s 20,000 Delphi salaried retirees believe they are gaining ground in their three-year fight to have their full pensions restored.
PRC participates in a Senate HELP Committee roundtable discussion on the future of pensions (September 20, 2012)
On September 20, the Senate Committee on Health, Education, Labor, and Pensions held a roundtable discussion on “Pension Modernization for a 21st Century Workforce.” Eight panelists, including the Pension Rights Center’s Karen Friedman, were invited to discuss three questions about the future of pensions and to submit written responses to the questions. Karen’s written responses […]
The Road to Retirement
Even before the Great Recession, Americans were not saving enough, if anything, for retirement, and policy experts were warning of a looming catastrophe. The economic downturn and its consequences — including losses in jobs, income, investments and home equity — have made that bad situation much worse.
Retirement Security for All: A Forum for State Action
Event description: On September 14, 2012, the Pension Rights Center, the Schwartz Center for Economic Policy Analysis (SCEPA) at the New School, and Dēmos hosted a forum in New York City on expanding pension plan coverage at the state level. The forum brought together state officials with experts from a variety of organizations to discuss proposals for state-administered retirement […]
Spouse’s Consent Is Required to Change Retirement Account Beneficiary
Why does a married person who has certain kinds of accounts have to get his or her spouse’s permission to change the beneficiary of those accounts?
Should the 401(k) Be Reformed or Replaced?
John Greene worked for 30 years at an Oscar Mayer plant in Madison, Wis., deboning hams and loading boxes of hot dogs. His plan grew to $60,000, and soon after retiring he began withdrawing $3,600 a year from it, money that allowed him and his wife to take what he called a wondrous two-week trip […]