Pension Rights Center applauds release of consumer protection rule

At an event hosted by AARP, President Obama announced that the U.S. Department of Labor is taking critical steps toward protecting the retirement money that millions of American workers and retirees have invested in 401(k) plans and IRAs. The Department has sent a proposed regulation to the Office of Management and Budget that would require brokers to give their clients unbiased advice. In a statement supporting the release of the rule, Karen Friedman, the Center’s executive vice president and policy director, noted that “there is a dire need to ensure that all professional advisers and brokers who recommend investments for retirement money put their clients’ interests first.” The Center has joined with other organizations to launch SaveOurRetirement.org, a website dedicated to ensuring that all Americans get reliable investment advice. Read Karen Friedman's blog entry about President Obama's announcemnt.

More: Pension Rights Center Applauds Labor Department’s Release of Proposed Rule on Conflicted Investment Advice to OMB | President Obama calls for new consumer protections

Lawyer referral service has a new (old) home

The National Pension Lawyers Network is a referral service linking people who need an attorney with lawyers who can help them enforce their retirement rights. Started by the Pension Rights Center in 1986, NPLN was later transferred to the Pension Action Center, which administered it for 18 years. NPLN is once again operated by the Pension Rights Center. The Network currently consists of nearly 600 lawyers who are available to represent workers, retirees, and their families in pension, 401(k), and other retirement plan matters on a regular-fee, reduced-fee, or pro bono basis.

More: Join NPLN | Request assistance from an NPLN attorney

PRC co-sponsors Pension Benefit Guaranty Corporation's 40th anniversary event

The Pension Rights Center and the U.S. Chamber of Commerce joined with the Pension Benefit Guaranty Corporation to co-sponsor a January 12 event celebrating the 40th anniversary of the PBGC and the federal private pension law. The event featured Secretary of Labor Thomas Perez and many of the country’s foremost pension experts, including Center board member Regina Jefferson. In her opening remarks PRC director Karen Ferguson praised the PBGC for its success in helping to achieve the law's objective of ensuring that reasonable pension expectations are met.  

More:  Remarks by Karen Ferguson at the PBGC's 40th anniversary forum | PBGC Celebrates 40 Years of Protecting Pension Benefits of the Nation’s Workers and Retirees 

PRC board chair calls for expansion of Social Security

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.
--  Obama Attacks Advisors Selling Snake Oil, Lauds New DOL Fiduciary Rule
--  Supreme Court to hear case that could impact your 401(k) fees
--  State private retirement programs get help from president
--  Pension plans, once inviolable promises to employees, are getting cut
--  Court Watchers Looking at Plan Fees, Retiree Benefits, Church Plans in 2015