As a result of a recent change to Internal Revenue Service procedures, many people covered by pension plans of organizations that are affiliated with churches have begun to receive notices informing them that their employers are seeking approval from the IRS to convert their plans to church pension plans. The notices say that if the plans are granted "church plan status", they will no longer be protected by the private pension law. Thanks to a recent Center blog entry, many employees around the country now realize that tis means that they could lose their pensions, and have begun organizing to protest their employers' actions. With PRC's help, one group has already succeeded in persuading their employer to withdraw its request for an IRS ruling.  

Have you been reading our blog? If so, you've read our take on American Airlines' bankruptcy filing and what it means for the retirement security of its employees, learned about the impact of a new IRS rule on the people who work at organizations associated with religious institutions, and you know the real story behind a recent study whose findings seem to indicate that older Americans have fared better than younger Americans during the current economic crisis. Stay in the know by subscribing to PRC Perspectives today.