Forbes: One Easy Way To Boost Your 401(k) Account, Starting Now
“Participants who withdraw plan funds to cover non-retirement expenses,” notes the Pension Rights Center, “no matter how justified, are shortchanging their future. Every dollar withdrawn will no longer be in the account where it can grow tax deferred. That lost principle, combined with the loss of potential interest and investment gains over what could be […]
Our 2024 Resolutions Reflect our Commitment to Retirement Security for All
By Karen Friedman The New Year is always a great time to take stock and resolve to do better. I’m already making headway on my personal goals of hitting the gym, eating healthier (mostly), and generally getting in better shape. Our resolutions at the Pension Rights Center, however, are a bit more ambitious. We’re working […]
Uptick in Withdrawals Exposes the Inadequacy of Do-It-Yourself Retirement
By David Brandolph For decades, employers have been steadily ridding themselves of the responsibility of funding and making payments to traditional defined benefit pensions in favor of 401(k)-type defined contribution plans. But are these individual account retirement savings plans providing sufficient retirement income for most Americans? For millions of workers, that answer is “No.” A […]
Speech by Karen Friedman at the ARA Retiree Security Symposium
Karen Friedman, Executive Director of the PRC, gave a speech to attendees at the 2023 ARA Retiree Security Symposium in Washington, D.C. on October 17th. You can read her comments here.
Forbes: Transferring Your 401(k) To An IRA? 5 Things You You Need To Know To Avoid Getting Burned
Trillions of dollars in 401(k) assets are on the move as employees retire or change jobs. It’s not difficult to transfer these funds, but there’s a lot you need to know to avoid getting fleeced.
NYT: Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses
Federal law generally protects retirement savings when a company files for bankruptcy. But that’s not always the case.
CNN: Traditional pension plans are pretty rare. But here’s who still has them and how they work
The phrase “pension benefits” may come up a lot in the next several days as negotiations between the United Auto Workers union and the Big Three automakers go down to the wire to avert a strike. But for most private-sector US workers, pensions disappeared long ago.
Barbienomics: from panacea to real world poverty
By Karen Friedman I joined the throngs of people who flocked to see the monumentally popular movie, Barbie. I dressed up in hot pink from head to toe – because I can’t resist any opportunity for theatricality and a fun community event (which won’t surprise anyone who has been to our fundraising galas). My younger […]
When Swimming in 401(k) Asset Transfer Water: Beware of Sharks
By David Brandolph I expect a 401(k)-type plan customer service call center to be a place to get impartial information about the plan and one’s account. But a recent experience with a center representative has made me question the impartiality of anyone—including such a representative–who recommends transferring plan assets to an IRA, particularly if that […]
Ralph Nader Radio Hour Features Pension Rights Center
By David Brandolph Pension Rights Center Executive Director Karen Friedman was recently interviewed on the Ralph Nader Radio Hour (the interview begins at 27:48) about current retirement issues. Referring to the protests over retirement issues in France, Friedman started the interview by telling Nader and co-hosts Steve Skovran and David Feldman that “Retirement issues are so […]
Racial and Income Inequities Threaten Older Workers’ Retirement Security, Study Shows
By Jane Smith A joint study from The New School’s Schwartz Center for Economic Policy Analysis (SCEPA) and the Economic Policy Institute (EPI) provides insight into the systemic inequities and retirement challenges faced by lower income workers, particularly Black and Hispanic people and women. As a result, many people must overcome substantial hurdles to achieve […]
PRC, National Women’s Law Center, and WISER comments to the Federal Retirement Thrift Investment Board on new TSP recordkeeping system
PRC, National Women’s Law Center, and WISER offered comments on the Notice of Proposed Rulemaking issued by the Federal Retirement Thrift Investment Board and the ways in which the Thrift Savings Plan’s new recordkeeping system will impact the rights of participants and beneficiaries. Read the full comments here.
