Pension Rights Center

Time 2020-06-21 08:04:55

Web Name: Pension Rights Center

WebSite: http://www.pensionrights.org

ID:6554

Keywords:

Pension,Rights,Center,

Description:

As insurance companies take over pension plans, are your payments at risk?New article from NBC News explains the risk transfer process and it's how it could affect retirees.Read the article here Pension plan fiduciaries get relief from Supreme Court Defined benefit plan sponsors worried about fiduciary breach lawsuits welcomed a June 1 Supreme Court decision that significantly raises the threshold for when participants have standing to sue, while participant advocates fretted over what they see as a loss of long-standing protections.More... Are public pensions doomed because of the coronavirus pandemic? State, local budgets feel pain Corey Shelton, an eighth gradescience teacherinJackson, Michigan, has earned a pension after more than 20 years on the job, but now he’s concerned that the economic devastation from the coronavirus pandemic will threaten the monthly checks he’s been counting on to fund his retirement.More... Where to Check Up on the Health of Your Pension Plan I will be eligible for a pension when I retire, but the markets and the Covid-19 outbreak have me worried about the health of my retirement plan. How can I figure out where my pension stands?A lot of help is available. But rules governing how employees are kept informed about their plans are changing, which calls for more vigilance on your part.More... Supreme Court strips workers of their right to sue for pension plan mismanagementIn 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.More... New government "hide and seek" rule tells workers to hunt for retirement information on websitesIn 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.More... On Saving Pensions, One Step to Go, On Composites and GROW, We Say No!PRC is thrilled that on May 15, as part of the latest COVID-19 relief bill (known as the HEROES Act), the House of Representatives passed the well-crafted Emergency Pension Plan Relief Act (EPPRA) to shore-up underfunded multiemployer pension plans. We urge the Senate to ensure that EPPRA’s provisions are retained in any compromise bill it works out with the House.More... PRC and National Women's Law Center comments on Federal Retirement Thrift Investment Board rule allowing withdrawal from TSPs without spousal consent (May 18, 2020)The Pension Rights Center and the National Women's Law Center submitted comments to the Federal Retirement Thrift Investment Board expressing concerns on an Interim Rule allowing federal retirees to withdraw their Thrift Savings Plan money without notarized spousal consent during the COVID-19 emergency.More... House relief act comes with multiemployer changes – and controversy The House narrowly approved another coronavirus relief legislative package late Friday that includes major changes for multiemployer pension plans, but with far less bipartisan support than previous measures.More... Looking for help with your retirement plan?If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now. PensionHelp America connects people who need help with their pension, 401(k), and other retirement plans with the pension counseling projects, legal services providers, and government agencies that can help answer their questions. Visit www.pensionhelp.org. PRC is thrilled that on May 15, as part of the latest COVID-19 relief bill (known as the HEROES Act), the House of Representatives passed the well-crafted Emergency Pension Plan Relief Act (EPPRA) to shore-up underfunded multiemployer pension plans. We urge the Senate to ensure that EPPRA’s provisions are retained in any compromise bill it works out with the House. Roadmap to retirementLet our roadmap to helpful information about retirement plans for private-sector workers put you on the path toward a secure retirement. Get started. Each state retirement system hasits own rulesrelating to the division ofstateemployees' pensions indivorce proceedings. Learn the rules for each state by reading our fact sheet,State Retirement Plans and Divorce. Pension Rights Center1730 M Street, NW, Suite 1000 | Washington, DC 20036 | (202) 296-3776 |1-888-420-6550

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The Pension Rights Center is the country’s only consumer organization dedicated solely to protecting and promoting the retirement security of American workers, retirees, and their families.

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