by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project EDRO is the acronym for, Eligible Domestic Relations Order. Without getting too bogged down with the gory details, a EDRO is a document that is generated when a divorce occurs. A EDRO is used when one or both of the parties earned a pension through a public employer during the marriage. A pension … Continue reading What is an EDRO?
via Detroit Free Press, by Eric D. Lawrence, freep.com, December 3, 2015, Wayne County’s underfunded pension system will get a $10-million boost. Commissioners approved a budget adjustment Thursday that would shift the money toward the county’s pension system, which is believed to be underfunded by almost $818 million. A report from Dwayne Seals, the commission’s chief fiscal adviser, said the extra money could add more than $44 … Continue reading Wayne County Shifts $10 Million Toward Pension System
by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project The Mid-America Pension Rights Project assists clients with pension and 401(k) issues. There are no age or income restrictions. And there is never a charge for the services. The Pension Project works to find answers and solutions to your pension-related problem. Just ask Ms. T. Ms. T’s former employer had an employee pension plan. … Continue reading A Working Class Program that Works to Solve Your Pension Problems
Early last week, many of the Central States retirees received letters concerning the proposed cuts to their pension benefit. Although cuts to pension benefits is not a new concept, the fact that these cuts are now affecting participants who are already collecting their pension benefit, retirees, is a new concept. This is due to 2015 Omnibus spending bill which was passed by Congress and signed … Continue reading Looming Pension Cuts
via dispatch.com, by Mark Williams, The Columbus Dispatch, October 2, 2015, Retired truck drivers and others who draw a pension from an underfunded pension plan expect to find out in the next couple of days how much their monthly stipend may be cut. The Central State Pension Fund said today that it has mailed information to all fund participants about how its rescue plan to stabilize … Continue reading Retirees Soon to Learn How Much Pensions May Be Cut
Via Kycir.org, By James McNair, Kycir.org August 24, 2015 Foiled in state court, a Jefferson County Public Schools teacher filed a federal court suit Monday claiming the Kentucky Teachers’ Retirement System illegally raised teachers’ share of pension contributions to shore up a retirement plan that is only half-funded. Randolph “Randy” Wieck, a history teacher at DuPont Manual High School, launched the legal battle last November … Continue reading Louisville Teachers File Federal Lawsuit Against State Over Underfunded Pensions
Via Bna.com, By Lisa Nagele-Piazza, bna.com July 27, 2015 An employer’s corporate successor may be responsible for its $661,978 in multiemployer pension fund withdrawal liability under a theory of successor liability, even though the employer withdrew from the fund after it sold its assets, the U.S. Court of Appeals for the Seventh Circuit ruled July 27. The U.S. Supreme Court and the Seventh Circuit have … Continue reading Successor May Be on Hook for Pension Withdrawal
Via 9and10news.com, By David Eggert, 9and10news.com July 29, 2015 The Michigan Supreme Court has upheld a law requiring state employees to contribute a portion of their pay to qualify for a full pension in retirement. Justices ruled Wednesday that the 2011 law does not infringe on the Civil Service Commission’s powers because voters did not consider pensions or other fringe benefits to be “compensation” when … Continue reading Court Upholds Law Requiring State Workers to Pay to Pensions
Via Detroit Free Press, By Paul Egan, Detroit Free Press July 6, 2015 LANSING — The Michigan Supreme Court has sent back to the Court of Appeals a pension case affecting the possible repayment to Michigan teachers and other school employees of a $552.7-million escrow fund held by the state. Last week’s order by the Michigan Supreme Court is the latest development in a protracted … Continue reading Thorny teacher pension case returns to Court of Appeals
Via The Daily Reporter By Don Reid, The Daily Reporter July 7, 2015 COLDWATER — Branch County has made a $900,000 payment to to Michigan Employee Retirement System (MERS) after making a budgeted $970,000 payment this year. That is payment of $1.87 million for 2015.The vote was 4-1, with commissioner Dale Swift opposing the additional payment. Branch County Administrator Bud Norman explained this will help … Continue reading County approves extra $900,000 for pensions
