Tuesday Dec 3
Hardwick Clothes Files Bankruptcy
Hardwick Clothes, Inc. filed a voluntary bankruptcy petition for Chapter 11 reorganization on Monday.
Underwater: Horribly Underfunded, The PBGC May Not Have Funds To Cover Failed Union Pensions
With so many unions' multi-employer pension funds in critical status , there is an increasing likelihood that union members expecting a pension may not actually receive one.
Retirement Weekly: Duly noted: PBGC maximum insurance benefit increases
The Pension Benefit Guaranty Corporation announced this week that the yearly maximum guaranteed benefit for a 65-year-old retiree has increased to almost $59,320 from about $57,500.
PBGC Finds Deep Pocket in Japan: U.S. Court Finds Parent Liable for Termination Underfunding
As the U.S. Pension Benefit Guaranty Corporation faces increasing strain on the pension insurance program it runs, it has become more aggressive in pursuing deep pockets after underfunded defined benefit plans are terminated.
Albany Times Union
Workers' pensions are at risk
It is one of the biggest bait-and-switch schemes in American history and it is about to impact tens of millions of private sector retirees.