Category: Mid-America Pension Rights Project

Stacks of coins.
FYI, Legal, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Pension, Tips

Trouble in candy land: How Peeps, pensions and a lawsuit threaten to upend the American retirement system

Via The Washington Post By Damian Paletta, Andrew Braford On April 1, hundreds of millions of marshmallow chicks and bunnies called Peeps will peer out from Easter baskets at American children. They are a pastel symbol of Easter joy, but behind the wax-eyed candy is a company at war with its union workforce over rising pension costs — an escalating legal tangle that could soon upend … Continue reading Trouble in candy land: How Peeps, pensions and a lawsuit threaten to upend the American retirement system

elderlawofmi
A calculator
FYI, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Pension

Congress looking at pension issue

Via Cantonrep.com By Edd Pritchard, GateHouse Media Ohio AKRON U.S. Sen. Sherrod Brown hopes Congress will resolve the crisis involving multiemployer pension plans before the year ends. On Thursday morning, Brown and Mike Walden, president of the National United Committee to Protect Pensions, reviewed Congressional efforts to resolve pension problems during a meeting at United Steelworkers Local 2 offices. More than 100 retirees representing a half-dozen … Continue reading Congress looking at pension issue

elderlawofmi
Mid-America Pension Rights Project, Money and Finances, Pension, Planning for the Future, Retirement

(Mid-America Pension Rights Project): Court rejects challenge to TVA pension changes

Via Times Free Press By Dave Flessner A federal appellate court has affirmed the legality of cost-of-living cuts and other changes made in 2009 by the Tennessee Valley Authority and its retirement system board to one of the South’s biggest pension plans. The Sixth Circuit Court of Appeals last week rejected a legal challenge to the pension reductions by beneficiaries of the TVA retirement plan. … Continue reading (Mid-America Pension Rights Project): Court rejects challenge to TVA pension changes

elderlawofmi
Exterior view of the Michigan Capitol Building illuminated at night.
Elder Law of Michigan, FYI, Legal, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Money and Finances, Pension, Tips

401(k) plans never meant to be a complete retirement plan. Where does that leave future retirees?

Via Michigan Radio By Stateside Staff Retirement accounts, specifically 401(k) plans, were never intended to be a substitute for a pension. But, the reality is, most people, if they have a retirement account at all, it’s a 401(k). Last year, the Wall Street Journal ran a piece in which the creators of the 401(k) worry about what they started. The 401(k) was designed to supplement income from Social Security and a pension. Frank Stafford, a professor … Continue reading 401(k) plans never meant to be a complete retirement plan. Where does that leave future retirees?

elderlawofmiLeave a comment
FYI, Legal, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Pension, Tips

GE’s pension problem could make breakup difficult

Via Timesunion By Larry Rulison SCHENECTADY – General Electric Co.’s $31 billion pension problem could make its breakup harder than expected. Bloomberg and other news outlets have been reporting that GE has a $31 billion pension shortfall that is becoming a concern for new CEO John Flannery as he decides how to maximize GE for shareholders, which could lead to the spin-off of some units … Continue reading GE’s pension problem could make breakup difficult

elderlawofmiLeave a comment
Legal, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Pension

(Mid-America Pension Rights Project): Third Circuit upholds nearly $16,000 penalty against R.L. Reppert over pension plan documents

Via PennRecord By Carrie Salls PHILADELPHIA – In December, the U.S. Court of Appeals for the Third Circuit affirmed rulings in a Pennsylvania lawsuit that alleges a Lehigh County company did not meet its pension requirements. Former employee Derrick Askew sued R.L. Reppert Inc. over its alleged failure “to properly contribute to its employees’ pension plan and its alleged subsequent failure to produce requested pension … Continue reading (Mid-America Pension Rights Project): Third Circuit upholds nearly $16,000 penalty against R.L. Reppert over pension plan documents

elderlawofmiLeave a comment
Elder Law of Michigan, FYI, Legal, Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Pension

Steelworkers Pension Trust alleges it is owed more than $112 million in withdrawal liability payments

Via PennRecord By Louie Torres PITTSBURGH – A nonprofit, multiemployer benefit pension plan alleges a New York private holding company and its subsidiaries failed to pay withdrawal liability payments. Steelworkers Pension Trust by Daniel A. Bosh filed a complaint on Jan. 31 in the U.S. District Court for the Western District of Pennsylvania against The Renco Group Inc., Ilshar Capital LLC, Blue Turtles Inc., Unarco Material … Continue reading Steelworkers Pension Trust alleges it is owed more than $112 million in withdrawal liability payments

elderlawofmiLeave a comment
a jar of pennies tipped over
Legal Hotline, Legal Hotline for Michigan Seniors, Legal Hotlines, Mid-America Pension Rights Project, Money and Finances, Pension, seniors, Tips

Retiree alleges Pfizer Retirement Committee failed to disclose information about his pension

Via Penn Record By Louie Torres PHILADELPHIA – A Pfizer retiree alleges he was not informed before he retired that his pension payments could not be rolled over to another account. Jeffrey A. Robertson filed a complaint on Jan. 19 in the U.S. District Court for the Eastern District of Pennsylvania against Pfizer Retirement Committee and Fidelity Executive Services, doing business as Fidelity Employer Services Co. … Continue reading Retiree alleges Pfizer Retirement Committee failed to disclose information about his pension

elderlawofmiLeave a comment
10-key pad calculator
Elder Law of Michigan, FYI, Mid-America Pension Rights Project, Pension, seniors

MAPRP Success Story: Mr. K 

By Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project   The Mid-America Pension Rights Project (MAPRP) assists clients with pension and 401(k) issues.  There are no age or income eligibility restrictions, and there is never a charge for services provided by MAPRP. The Mid-America Pension Rights Project works to find answers and solutions to your pension-related problem.  Just ask Mr. K.  Mr. K worked for a municipality for over 30 years. He began collecting his pension at age 62. At that time … Continue reading MAPRP Success Story: Mr. K 

elderlawofmiLeave a comment