In the News

For Carol Podesta-Smallen, the pain of a broken promise grows worse with time.

The Garfield, N.J., retiree framed her first pension check, along with a picture of herself and her husband. “That was our retirement,” she says, referring to the monthly benefit she earned after 26 years as a clerical worker.

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.

For years, members of Congress have been trying to pass legislation that will allow the federal government to establish a centralized database to help retirees locate their pension and 401(k) plans.

Tucked into the American Rescue Plan — the coronavirus stimulus that passed in early March — is the greatest victory for American workers in recent memory: the Butch Lewis Emergency Pension Plan Relief Act.