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So far CORPaTH has created 1070 blog entries.
30 06, 2020

A Pandemic Problem for Older Workers: Will They Have to Retire Sooner?

2020-06-30T08:46:57-07:00June 30th, 2020|Categories: Retirement|Tags: , |

Dorian Mintzer loves her work. A 74-year-old psychologist, coach and author, she has no plan to retire, and has continued to work during the pandemic, doing teletherapy from her home in the Boston area. Now, like millions of other older working Americans, Dr. Mintzer is uncertain about the future of her job — much will depend on whether health insurers continue to cover teletherapy post-pandemic. “I’m going to keep working virtually — the idea of going into an office [...]

26 06, 2020

DOL proposal could hurt prospects for ESG in ERISA plans

2020-06-26T14:53:25-07:00June 26th, 2020|Categories: ERISA, ESG|Tags: , , |

A proposal from the Department of Labor stipulates that ERISA plan fiduciaries cannot invest in ESG vehicles that sacrifice investment returns or take on additional risk, which sources say could curb environmental, social and governance investments. "Private employer-sponsored retirement plans are not vehicles for furthering social goals or policy objectives that are not in the financial interest of the plan," Labor Secretary Eugene Scalia said in a news release. "Rather, ERISA plans should be managed with unwavering focus on [...]

10 06, 2020

Pandemic Puts More Stress On Struggling Pension System

2020-06-10T14:54:52-07:00June 10th, 2020|Categories: Pension Funding|Tags: |

The coronavirus outbreak has presented daunting challenges for an already-struggling multiemployer pension plan system. It's also amplifying calls for Congress to step up and pass legislation to protect against millions of retirees losing their financial livelihood. More than a hundred multiemployer pension plans covering over a million workers and retirees were on the ropes even before COVID-19 became a household term, and that number could more than double depending on how the pandemic plays out, according to a letter [...]

13 05, 2020

Union Pension Partitions Included in Democrat’s 4th Relief Proposal

2020-05-13T15:38:17-07:00May 13th, 2020|Categories: Economy|Tags: , , , |

The Democratic majority in the U.S. House of Representatives has published a draft version of a fourth economic relief package in response to the coronavirus pandemic, dubbed the Health and Economic Recovery Omnibus Emergency Solutions Act or the “Heroes Act.” The wide-ranging legislation addresses a host of issues, from providing supplemental funding to the SNAP food security program to creating a special fund to support struggling fisheries. Notably, the entire Division D section of the legislation is dedicated to [...]

6 05, 2020

Protecting pensions after coronavirus

2020-05-06T14:49:06-07:00May 6th, 2020|Categories: Pension Funding|Tags: , |

Unions and pension schemes are being supportive of employers struggling with the pandemic. When the recovery starts that support should be repaid. Across the whole economy, employers are under unprecedented strain as they deal with lockdown and economic contraction. Companies with defined benefit pension schemes could face particular short-term pressures, as turmoil in financial markets may increase deficits – the gap between the assets a scheme has and the pensions it must pay – at exactly the time they are [...]

6 05, 2020

Public pension funds are a net gain for state and local revenue – study

2020-05-06T14:47:18-07:00May 6th, 2020|Categories: Economy|Tags: |

Public pension funds were net revenue generators for state and local governments in 2018, surpassing taxpayer contributions by $179 billion, according to a biennial study released Tuesday by the National Conference on Public Employee Retirement Systems. That represents a 30.6% increase from the original study covering 2015-2016. In 2018, pension funds generated about $341.4 billion in state and local revenues through investments and retiree spending, while the taxpayer contribution to those pension plans was $162 billion. For 40 states, [...]

27 04, 2020

NCCMP seeks congressional aid for pensions in ‘CARES 2’

2020-04-27T10:25:51-07:00April 27th, 2020|Categories: Multiemployer Plans|Tags: , , , |

Below is an April 24, 2020 letter written by NCCMP Executive Director Michael D. Scott. Dear Multiemployer Community, Today, the President signed H.R. 266 which provided additional authority for the Paycheck Protection Program and support for health care providers. This is commonly referred to as the COVID 3.5 stimulus package. In less than eight weeks, the COVID-19 pandemic has put more than 26.4 million Americans out of work and driven Congress and the Federal Reserve to structure more than [...]

22 04, 2020

McConnell rules out pension aid for states

2020-04-22T15:27:04-07:00April 22nd, 2020|Categories: Defined Benefit Plans|Tags: , |

States should be able to pursue bankruptcy rather than relying further on the federal government during the coronavirus pandemic, and any federal assistance should not be spent on addressing pension underfunding, said Senate Majority Leader Mitch McConnell, R-Ky., Wednesday during a radio interview. Radio host Hugh Hewitt asked whether Mr. McConnell would insist on reforms of state pension plans if states get more funding from the next COVID-19 assistance measure expected from Congress. "There's not going to be any [...]

22 04, 2020

Senate passes coronavirus relief package aimed at small business

2020-04-22T15:24:35-07:00April 22nd, 2020|Categories: Economy|Tags: , , |

The Senate via unanimous consent passed a nearly $500 billion coronavirus relief package Tuesday aimed mostly at small businesses impacted by the COVID-19 pandemic. After weeks of negotiation between key Republicans and Democrats on Capitol Hill and White House officials, an agreement was reached on an additional $321 billion for the small-business-oriented Paycheck Protection Program. Under the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, which was signed into law March 27, roughly $350 billion [...]

22 04, 2020

CORPaTH’s letter to Congress Leaders

2020-04-22T13:52:55-07:00April 22nd, 2020|Categories: Defined Benefit Plans|Tags: |

CORPaTH has reached out to Congressional leaders to offer a variety of powerful and pragmatic ideas to assist in creating positive solutions to the pension crisis affecting millions of Americans who are currently retired or who hope to retire in the future. Click here to read the letter. Click here to read the letter.

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