Here you will find articles, blog posts, press releases, newsletters and more. You can read the most recent information below, and you can also search for materials on specific retirement topics by using the filters in the yellow boxes on the left.
Comments & Letters
08/11/22
The Pension Rights Center submitted comments to the IRS requesting the agency to include in its Priority Guidance Plan several items to better protect consumers, including: (a) directing plans to provide former employees who leave before retirement with a single complete statement of their earned benefits ; (b) asking the agency to rethink its position on allowing plans […]
Comments & Letters
03/29/22
PRC sent a letter to Chairman Neal and Ranking Member Brady of the House Ways and Means Committee in support of specific provisions of the Securing a Strong Retirement Act of 2022, including those related to recoupment and the Retirement Savings Lost and Found.
Comments & Letters
10/14/21
PRC submitted comments with Covington & Burling LLP to the IRS on Rev. Proc. 2021-30, which updated selected correction procedures for benefit overpayments under the Employee Plans Compliance Resolution System (“EPCRS”).
Blogs & Newsletters
08/13/21
By Emily Gilbert In my last blog post, I talked about how often we hear from people who cannot locate their retirement plans, and how Congress is taking steps to address this issue. Provisions related to lost retirement plans are included in legislation now pending in the Senate and House of Representatives. Two of these bills also […]
PRC In the News
07/29/21|CNBC
For some retirees, getting a large pension payment can become a big problem. Let’s say a pension plan mistakenly has been paying a participant too much and requires the person to pay back the money, typically through reduced future payments.
Blogs & Newsletters
08/06/18
By Karen Friedman This weekend’s edition of the Wall Street Journal features a front page article by Theo Francis highlighting pension plans’ practice of trying to recover money they have mistakenly paid their retirees, often years later when the retiree cannot afford to pay back the money. Although this practice, often called “recoupment,” has gone […]
Blogs & Newsletters
11/30/15
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 […]
Comments & Letters
07/20/15
The Pension Rights Center submitted comments to the Internal Revenue Service regarding Revenue Procedure 2015-27 and Revenue Procedure 2013-12, both of which address corrective action that pension plans should take when they overpay retirees. The Center discusses the financial hardships caused by “recoupment” — when a plan overpays a retiree and demands repayment — and offers […]
PRC In the News
05/19/15|Bloomberg BNA's Pension & Benefits Reporter
Pension plans have been ratcheting up demands that retirees reimburse them for benefit overpayments, and a lack of government guidance has pushed those efforts even further, advocates for pensioners told Bloomberg BNA.
Blogs & Newsletters
04/16/15
In a recent article, “Can They Grab Your Pension?”, AARP Bulletin highlights the problem of recoupment – when a pension plan overpays a retiree and then demands that the retiree pay back the overpayment. To recoup the money, the plan usually reduces the retiree’s benefit. It might also demand that the retiree pay a lump […]
PRC In the News
07/06/14|Pittsburgh Post-Gazette
An article in the Pittsburgh Post-Gazette details the problem of recoupment — when a pension plan demand repayment of money that it overpaid to a retiree — and highlights the work of the Mid-America Pension Rights Project.
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