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March 26, 2014

Karen Friedman tackles retirement crisis on MSNBC’s Melissa Harris-Perry Show

If you watch Sunday morning news talk shows, you might have seen PRC executive vice president and policy director Karen Friedman discussing how the proposed settlement in Detroit would dramatically affect retirees, the state of public plans, and the magnitude of the retirement income crisis with guest host Jonathan Capehart on MSNBC’s Melissa Harris-Perry Show this past weekend. Karen joined writer Arun Gupta, Lynnette Khalfani-Cox of The MoneyCoach.net, and Connie Razza of the Center for Popular Democracy as panelists on the program. Karen cautioned viewers that, if Detroit and other cities and states are able to reduce retirees’ pensions, America, which has been the land of promise, will become the “land of broken promises.”
More: Segment 1: How pension plans are at risk | Segment 2: How CEO pensions compare to average workers’ pensions | Segment 3: Why cities are watching Detroit

March is Women’s History Month

While women have made great strides in the workforce, they continue to lag behind men when it comes to being able to live comfortably in retirement. In 2012, more than 10 percent of women age 65 and older were living in poverty. To highlight the problem of retirement security as it affects women, Pension Rights Center executive vice president and policy director Karen Friedman took part in a video produced by the Service Employees International Union for Women’s History Month, “I am not Margaret Mead.” Karen also wrote a blog entry detailing the reasons that women are more economically vulnerable than men in retirement. The blog entry, cross-posted on Huffington Post, advocates strengthening Social Security and developing innovative cost effective ways to help women save for retirement.
More: PRC blog entry: March: Women's History Month -- and the Winter of Our Retirement Discontent | SEIU video:
I am not Margaret Mead"

New ideas for state-sponsored retirement plans on the move in Connecticut and Illinois

Legislation intended to strengthen economic security for private-sector workers in retirement is making its way through the legislative bodies in Connecticut and Illinois. In Connecticut, Karen Friedman testified in support of S. 249, An Act Promoting Retirement Savings, a bill allowing the state to create a state-run retirement savings plan for private-sector workers whose employers do not already sponsor a retirement plan. The bill is expected to be voted on by the General Assembly’s Appropriations committee in April. A similar bill, the Illinois Secure Choice Savings Program Act, would create a state-run Individual Retirement Account for private-sector workers. This bill has been reported out of the Senate Executive Committee and is now before the state Senate. These bills are part of a wave of legislation being considered in Oregon, Maryland, Minnesota and other states.
More: Pension Rights Center
testimony before Connecticut General Assembly

Pension Counseling and Information Program in the news

The vitally-important work of the Pension Counseling and Information Program has been profiled on KGO-TV and in the Reading Eagle. Western States Pension Assistance Project was featured in a segment on ABC’s San Francisco affiliate, KGO-TV. In what the report dubs “the most important government benefit you have that you’ve never heard of,” Western States Pension Assistance Project director Parisa Ijadi-Maghsoodi describes the work of the counseling project and the key role it plays in keeping older Americans out of poverty. In the Reading Eagle, Jean Spring, an attorney with the Mid-America Pension Rights Project describes the types of cases handled by the program. The six U.S. Administration on Aging Pension Counseling and Information Projects provide free legal assistance to 30 states, and have recovered more than $191 million in benefits for their clients since the program was launched in 1993.
More: KGO-TV:
Little-known government benefit protects retirees | Reading Eagle: Tips for how to find a lost pension

PRC in the News

Below are just a few of the articles we've been quoted in. Check out the PRC in the News section of our website for more.

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  Pension Rights Center
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