Month: September 2014
PBGC Proposal to Track De-Risking Plans Seen by Pension Rights Center as Good Step
The Pension Benefit Guaranty Corporation’s recent request for comments on a proposal to require companies making pension risk-transfer offers to their employees to report such offers to the PBGC is aimed at helping the agency determine its future liabilities, but the information may also prove useful for the public, a spokeswoman for the Pension Rights […]
Retirement Plans For All? These States Say ‘Yes’
The federal government has been looking to introduce legislation designed to help workers save for retirement if they aren’t covered by an employer-provided pension plan or retirement savings plan. In the meantime, many states are taking up the charge.
Broad-Based Coalition Pushes For Updates To Retirement-Plan Advice
A broad-based coalition of labor unions and consumer protection groups has reiterated its support for the U.S. Department of Labor (DOL) to update, strengthen and clarify rules around advice provided to workers saving through retirement plans.
Group letter to Congress in support of a strengthened and updated fiduciary rule (September 17, 2014)
The Pension Rights Center, along with 43 other organizations, sent the letter below to every member of Congress, expressing support for updated and stronger rules to protect people with retirement plans and individual retirement accounts from conflict-ridden investment advice. The letter calls on the Department of Labor to proceed with the rule-making process. September 17, 2014 […]
ERISA Has Protected Participants, but Challenges Remain
Joe Lustig of Bloomberg BNA asked Karen Ferguson about the effect of the passage of ERISA in September 1974. Ferguson is director of the Pension Rights Center and a longserving member of the Benefits Practice Center Pension & Benefits Advisory Board.
Happy 40th, ERISA!
Forty years ago this week, bell-bottom jeans were still in style, the Vietnam War was coming to a close, and Watergate was still riveting the nation. Against this backdrop of social unrest, there was also a focus on broken pension promises. Back then, tens of thousands of people were losing their pensions because few laws […]
ERISA’s mid-life crisis
On its 40th birthday, plans sponsors and participants find plenty to be unhappy about.
ERISA at 40
The landmark legislation that promised security in retirement has fallen far short of its expectations