PRC launches new "Roadmap to Retirement"

If you’ve ever wondered where you can find helpful information about your retirement plan, visit the new Roadmap to Retirement section of our website. Divided into five sections, Starting a job, Participating in a retirement plan, While you are working, Switching jobs or retiring, When your family status changes, and When your employer or plan changes, the Roadmap to Retirement connects users with fact sheets, guides and other helpful resources to guide them through various stages of their working lives.
More: Roadmap to Retirement

New fact sheet and calculator help certain retirees predict possible pension loss

More than 10 million workers and retirees are covered by multiemployer pension plans. Although the majority of multiemployer plans are well funded, about 200 plans covering one million participants are projected to run out of money in the next 10 to 20 years. There are a number of common-sense proposals to address this situation. However, many retirees are worried about one proposal that would allow the trustees of these plans to reduce the already-earned benefits of current retirees. A new PRC fact sheet explains the financial situation of multiemployer plans and discusses this proposal. The fact sheet links to our new on-line calculator which concerned retirees can use to gauge the impact benefit cuts could have on their pensions if the proposal were to become law. 
More: PRC fact sheet: Facts about Multiemployer Pension Plan Funding | Multiemployer Retiree Cutback Calculator

Counseling projects record significant victories for clients

Having recovered more than $190 million in benefits for its clients since its launch in 1993, the Pension Counseling and Information Program continues to win for clients. Thanks to the work of the Mid-America Pension Rights Project, a widow whose deceased husband’s pension plan had no record of him having been married is now receiving a monthly pension of more than $850 per month. Another Mid-America Pension Rights Project client is receiving a monthly pension that will enable her to continue living in a nursing home.
More: No divorce means widow is entitled to husband’s pension | Restarting a pension becomes a family matter

PRC asks the Labor Department to add traditional pensions to its regulatory focus

When the Labor Department’s Employee Benefit Security Administration announced its 2014 Spring Regulatory Agenda, the Pension Rights Center noticed traditional pension plans were missing from the agenda. In response, the Center wrote a letter asking EBSA to focus attention on what we consider to be four key issues that affect participants in traditional pension plans: Updating claims and appeals procedures for pension plans; Providing guidance on records retention; Establishing more equitable rules for recoupment; and Issuing rules to improve the clarity and accuracy of individual benefit statements.
More: PRC Letter to the Department of Labor on Its Spring 2014 Regulatory Agenda | EBSA Spring 2014 Regulatory Agenda

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.

• Logistics Management: Teamsters rank and file digging in against possible pension benefit cuts

• Bloomberg: Retirees Suffer as $300 Billion 401(k) Rollover Boom Enriches Brokers

• Pensions & Investments: Challenge of income adequacy perplexes execs

• New York Times: Brokers fight rule to favor best interests of customers

• AARP: The Magazine: The Great Pension Sell-Off: Should you take a lump sum or an insurer's annuity?