Month: November 2015
This is what we do: help people
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. Back in March, Kyle […]
Retirement Issue Gets Presidential ‘I Beg Your Pardon?’
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. Buch joked that if recording artist Kanye West gets serious about running for president in 2020 and if he starts talking about retirement issues — maybe, just […]
A big step forward for state-based initiatives
For the past 15 years, one of the Center’s top priorities has been to find innovative ways of finishing the formidable task of expanding pensions and retirement savings for the about 50 percent of the workforce – 70 million Americans – who are not currently participating in an employer-sponsored retirement savings or pension plan. Getting […]
Why Retirees Are Losing Their Pensions (AUDIO)
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 […]
Teamsters Local 371 organizes to protest pension cuts
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.
Speech by Karen Friedman to the Minneapolis Teamsters Committee (November 14, 2015)
Good morning, my friends from the Pension Rights Committee. I’ve flown in from Washington, D.C., and I know I’m in a fighting mood – and I bet you are too. Minnesotans, let’s get mad! Many of you met me when I was here last April, so you know that I’m the executive vice president and […]
Retiree benefits are facing many threats
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.
So, You Think That You Have The Right To A Pension?
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. We […]
Lawmakers Announce Principles for Bill As Alternative to DOL Fiduciary Rule
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.
The fight to protect savers from bad financial advice heats up
The U.S. Department of Labor’s effort to update its fiduciary rules – rules that protect Americans trying to save for retirement – has reached yet another new level. After asking the public for its thoughts on its proposal to close a loophole that, among other things, allows financial advisers to enrich themselves at the expense […]