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 9 and 10 News, by The Associated Press, 9and10news.com, December 1, 2015, Certain retired teachers could return to the classroom because of a shortage of substitutes and not enough full-time teachers in some subjects under legislation that has cleared the Michigan Senate. The chamber approved the bill 35-0 Tuesday. A law allowing teachers who retired after mid-2010 to teach again without losing their pension … Continue reading Senate OKs Letting Some Retired Teachers Return With Pension
Via peoplesworld.org, By Bruce Bostick, People’s World, November 2, 2015, Thousands of retired Teamsters have been blasted this month by major cuts to their pensions. The cuts are part of a little known part of the 2012 Omnibus Spending Bill (Pension Reform Act of 2012), which was put forward supposedly to help fund the underfunded Pension Benefit Guaranty Corporation (PBGC). The cuts are averaging 22 … Continue reading Retired Teamsters Slammed By Budget Bill
via Chicago CBS Local, by Pam Zekman, chicago.cbslocal.com, October 2, 2015, You retire assuming the pension you were told you’ll get is correct. But imagine being told you were overpaid by your pension fund and now you have to pay back tens of thousands of dollars. That’s what happened to more than 500 retirees who were overpaid more than $5 million over 40 years because … Continue reading 2 Investigators: Pensioners Fight Back When Fund Demands Overpayments Be Returned
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 Freep.com, By Matt Helms, Detroit Free Press, September 30, 2015, A federal judge today ruled against Detroit pension beneficiaries who had appealed the city’s final bankruptcy plan of adjustment, the post-bankruptcy blueprint for city finances and operations after it emerged from the nation’s largest-ever municipal insolvency. Judge Bernard Friedman of the U.S. District Court in Detroit tossed out appeals by city retirees who had … Continue reading Pensioners Lose Appeal of Detroit Bankruptcy Cuts
Via Fortune.com, By Jonathan Chew, fortune.com, September 30, 2015, A pension fund in Michigan has filed what is believed to be the first investor lawsuit against Volkswagen over its drastic stock drop in the aftermath of its emissions cheating scandal. As the German car maker braces for a barrage of lawsuits in the U.S. over its attempt to subvert emissions testing in its diesel cars … Continue reading Investors Are Suing Volkswagen Over Its Stock Drop
via NWI Times, by F. Marc Ruiz, Nwitimes.com, October 1, 2015 The traditional defined benefit, or pension plan, is truly becoming a thing of the past. A recent GAO survey of 183 pension plans indicated that even among those plans that do still exist, 20 percent of employer sponsors intended to terminate the plan in 2015 alone. This trend is certainly in full swing in … Continue reading What To Do When Your Pension Plan Is Terminated?
via Reuters.com By Jonathan Stempel, Reuters.com, August 20, 2015 U.S. regulators on Thursday filed a lawsuit accusing two companies of preying on retirees and military veterans by advancing high-cost loans disguised as pension advances, jeopardizing victims’ retirement savings. The lawsuit against Pension Funding LLC and Pension Income LLC was brought by the U.S. Consumer Financial Protection Bureau and the New York State Department of Financial … Continue reading Pension Advance Firms Cheat Retirees: U.S. Lawsuit
