Month: February 2021
COVID-19 Relief Bill Could Rescue Union Retirees’ Pensions
The COVID-19 pandemic relief legislation set for a vote this week in the House contains a provision to save struggling union pension plans that experts say has a good shot at passing, forecasting a possible end to a $65 billion funding crisis that threatens one million retirees’ pensions.
Prospects Brighten for Much Needed Pension Rescue Bill as It Heads to House Floor Vote
By David Brandolph The House Ways and Means Committee significantly boosted the prospect for passage of much needed pension relief that would protect the hard-earned and promised benefits of active and retired truck drivers, nurses and health care workers, plumbers and construction trade workers – people who we now recognize and honor as America’s essential […]
PRC News, February 19, 2021
Wow…Our 45th anniversary is here! Forty-five years ago this week, consumer advocate Ralph Nader handed Karen Ferguson a key to an office, a check for $10,000 and told her to “make pensions an issue.” And with those four words, the Pension Rights Center was born. With gumption and a vision for a future where all […]
Why We Need a New Approach to Retirement Income Planning
If you are feeling nervous about funding your retirement, you’re not alone. A survey of more than 3,200 baby boomers by financial firm Allianz found that more than 6 in 10 baby boomers feared running out of money before they died more than death itself. The reason for this anxiety is that retirement has changed significantly over […]
Welcome Labor Department Guidance on Missing Participants
By Jane Smith Recently issued Department of Labor guidance is an important step toward resolving the “missing participants” problem. Following several years of investigating how plans do, or do not, stay in touch with former employees who are due benefits, in January 2021, the Labor Department published a best practices guide for pension and retirement […]
PRC letter to the Committee on Ways and Means in support of the Butch Lewis Emergency Pension Plan Relief Act of 2021
PRC sent a letter to the Committee on Ways and Means expressing our support for the Butch Lewis Emergency Pension Plan Relief Act of 2021.