Press Release
12/08/22

Butch Lewis Act saves Central States Pension Fund

FOR IMMEDIATE RELEASE  The Pension Rights Center and thousands of retired truck drivers, warehouse workers and spouses across the country are celebrating the approval of an infusion of funds that will keep the Central States Pension Fund going strong for decades to come.    The White House announced today that the Pension Benefit Guaranty Corporation (PBGC) […]

Press Release
07/08/22

PBGC Issues Final Guidance on Butch Lewis Act

For Immediate Release The Pension Benefit Guaranty Corporation (PBGC) on July 8 released a long-awaited final rule implementing the Special Financial Assistance Program (SFA) under the Butch Lewis Emergency Penson Plan Relief Act (BLA). The BLA, passed in March 2021 as part of the American Rescue Plan Act, authorizes the U.S. Treasury Department to give […]

Press Release
05/23/22

Karen Ferguson to Receive Honor from International Foundation of Employee Benefit Plans

For Immediate Release The Pension Rights Center is thrilled to announce that the International Foundation of Employee Benefit Plans will be giving its 2022 Public Service Award, posthumously, to Karen Ferguson, the Center’s beloved founder and former president, who died in December at age 80. The award will honor Karen for her lifetime of advocacy […]

Press Release
02/16/22

Consumer Groups and Others to Launch Retirement-Security-For-All Call for Action

For Immediate Release Tomorrow, February 17th, the consumer advocacy organization the Pension Rights Center and other like-minded groups will be celebrating PRC’s 46th anniversary. They will also be celebrating the birthday of the Center’s late founder, Karen Ferguson, who died in late December. On this special day, PRC will be joined by Social Security Works […]

Press Release
01/24/22

Local 707 retirees in New York on road to getting benefits restored due to Butch Lewis Act and PBGC

For Immediate Release                   Contact: Karen Friedman, 202-296-3776 The Pension Benefit Guaranty Corporation (PBGC), the federal agency that backstops failing pension plans, recently announced some great news— that it has, for the fourth time in less than one month, approved financial assistance under the Butch Lewis Emergency Pension […]

Press Release
10/04/21

The Pension Rights Center urges the IRS to protect retirement spousal rights

For Immediate Release                   Contact: Karen Friedman, 202-320-6518 The Pension Rights Center (PRC) sent a comment letter to the IRS in opposition to efforts to weaken spousal rights to retirement benefits. The Pension Rights Center has been a leading consumer voice working to protect the retirement security of workers, retirees […]

Press Release
03/26/21

New Law Causes Musicians’ Pension Trustees to Rethink Benefit Cuts

  For Immediate Release Contact: Karen Friedman, 202-320-6518 Tens of thousands of musicians— pianists, trumpeters, celloists, saxophonists and others— who were fighting cuts to their pensions are reaping immediate gains from the newly enacted Butch Lewis Emergency Pension Plan Relief Act, which was passed as part of the $1.9 trillion Covid-19 aid package, known as the American […]

Press Release
01/08/21

Musicians Paul Livant and Andy Snitzer Contribute “Service Award” to Pension Rights Center

Andy Snitzer and Paul Livant, the named plaintiffs in a class action lawsuit against the trustees of the American Federation of Musicians and Employers Pension Fund (AFM-EPF), received a service award of $10,000 each when that case settled.  Rather than keep their awards, which compensated them for their time and the risks they took on, […]

Press Release
08/13/20

Treasury Department rejects application by musicians’ pension fund to cut benefits – saving retirees’ pensions. Now it’s up to Congress to act!

Musicians across the country are cheering the U.S. Treasury Department’s decision Tuesday to reject the application filed by the Trustees of the American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) to reduce their benefits. The Pension Rights Center joined more than 180 retired musicians, who were facing 40 percent cuts, in urging the Treasury […]

Press Release
07/27/20

Pension Rights Center Calls on Retirement Plan Participants to “Ask for Paper!” in Response to New Anti-Consumer Labor Department Disclosure Rule

In response to the U.S. Department of Labor’s new anti-consumer “notice-and-access” disclosure regulation that goes into effect today, the Pension Rights Center is urging workers and retirees to tell their pension and 401(k) plans that they want to continue receiving their key retirement information on paper – not just by getting a text or email […]

Press Release
06/03/20

Supreme Court strips workers of their right to sue for pension plan mismanagement

In a 5-4 decision issued on Monday, the U.S. Supreme Court ruled that pension plan participants have no right to sue the people running their plans for fund mismanagement. The Court’s majority opinion in Thole v. U.S. Bank holds that since most people participating in a traditional pension plan will receive their promised benefits regardless […]

Press Release
05/29/20

New government “hide and seek” rule tells workers to hunt for retirement information on websites

In the midst of an economic collapse and at a time of heightened financial insecurity, the U.S. Department of Labor has issued a regulation that tells workers and retirees that to find information about their retirement rights they will have to hunt for it on a website. No longer will people automatically receive yearly statements […]