Economy – CORPaTH

Caregivers facing greater financial strain, lower retirement confidence

Source: Benefits Canada Employees with caregiving responsibilities face greater financial strain, lower retirement confidence and more concern about future retirement risks than employees without caregiving responsibilities, according to a new survey by the Employee Benefit Research Institute. The survey, which polled more than 2,500 U.S. employees aged 25 and older, found just 36 per cent of caregivers said their health status is excellent or very good, compared to 45 per cent of non-caregivers. Nearly two-thirds (64 per cent) said [...]

CORPaTH2026-07-29T11:48:19-07:00July 29th, 2026|Categories: Economy|Tags: caregivers, Retirement savings|

How Pensions Power the Economy

By Tim Walker Source: NEA Today Retired special education teacher KC Walsh started thinking about her pension a few years into her teaching career. “I might have been one of the few who did,” recalls Walsh, who lives in Oak Grove, Calif. “Teaching is an extremely hard job. You have other things on your mind, especially when you are young. But knowing that there was some security at the end my career helped keep me in the profession.” Walsh [...]

CORPaTH2026-04-09T08:44:14-07:00March 20th, 2026|Categories: Economy|Tags: DB Plans, economy|

A strong Alaska requires a strong public workforce aided by a defined benefits plan

By Bronson Fyre Source: Anchorage Daily News Alaska has always depended on people who are willing to commit their lives to this place — to raise families here, build communities here and serve the public good. But today, too many of the institutions that make Alaska work are struggling to hold onto the people who keep them running. Our schools are losing teachers faster than they can replace them. Police and fire departments are struggling to fill positions. Across [...]

CORPaTH2026-03-18T08:58:11-07:00March 14th, 2026|Categories: Defined Benefit Plans, Economy|Tags: alaska, DB Plans|

Honoring Black History Month with Secretary-Treasurer Fred Redmond

View video remarks here Black History Month is a time for reflection and recognition as we celebrate the Black labor leaders and union members, both past and present, who have advanced real change. The struggle for equity absolutely continues, and our task of protecting our fundamental rights remains as important as ever. The labor movement plays a critical protective role against the Trump administration and its enablers as they attack diversity, equity and inclusion policies and programs, attempt to [...]

CORPaTH2026-02-02T14:48:25-08:00February 2nd, 2026|Categories: Economy|

‘Sell America’ Is the Long Game for Europeans

By Chris Bryant Source: Bloomberg No sooner had Deutsche Bank AG currency strategist George Saravelos raised the possibility of Europeans selling some of their $8 trillion of US assets because of Donald Trump’s threats toward Greenland, a pile-on began. US Treasury Secretary Scott Bessent was bothered enough to take time out to argue why this was wishful thinking. But after the Americans initiated a swift climbdown on Greenland at Davos — no invasion or tariffs on disobedient Europeans — [...]

CORPaTH2026-01-22T09:45:07-08:00January 22nd, 2026|Categories: Economy|Tags: europe, greenland, tariffs|

Danish Pension Fund AkademikerPension to Exit US Treasuries

By Frances Schwartzkopff Source: Bloomberg The Danish pension fund AkademikerPension is planning to exit US Treasuries by the end of the month, amid concerns that the policies of President Donald Trump have created credit risks too big to ignore. “The US is basically not a good credit and long-term the US government finances are not sustainable,” Anders Schelde, chief investment officer at AkademikerPension, told Bloomberg on Tuesday. AkademikerPension, which manages around $25 billion in savings for academics, held about [...]

CORPaTH2026-01-21T16:07:30-08:00January 20th, 2026|Categories: Economy|Tags: denmark|

Trump Is Wiping Out Unions. Why Are They So Quiet?

By Erik Loomis Source: The New York Times This is a most unfortunate Labor Day for labor. The labor movement has taken it on the chin repeatedly in the last several decades, but President Trump is the most ruthlessly antilabor president since before the Great Depression. If the labor movement does not fight harder than it has since Mr. Trump regained the presidency, its future will be dire. Mr. Trump and his administration have unilaterally stripped collective bargaining rights [...]

CORPaTH2025-09-09T13:03:36-07:00September 1st, 2025|Categories: Economy|Tags: unions|

Public pension shocker: Shutting a pension plan actually costs taxpayers money

Source: Los Angeles Times Amid the nationwide panic over the rising costs of public employee pensions, one proposed solution is nearly universal: States and municipalities should shutter their traditional defined benefit plans and place all new employees in a 401(k)-style defined contribution plan instead. That’s the idea in a proposed California ballot initiative we reported on last week. The measure, which would end defined benefit plans for new employees as of Jan. 1, 2019, was praised by the Wall [...]

CORPaTH2025-08-20T13:27:44-07:00August 20th, 2025|Categories: Economy|Tags: taxpayers|

Global pension assets recover amid positive returns and growing contributions

Source: EuropeanPensions.net Global pension assets continued to grow in 2024, exceeding the previous record set in 2021 and fully offsetting the losses experienced in 2022, data from the Organisation for Economic Co-operation and Development (OECD) has revealed. The preliminary findings for the group's annual Pension Markets in Focus report showed that assets in pension plans grew by 8.5 per cent in the OECD and by 3.1 per cent in a group of non-OECD jurisdictions in 2024. In total, assets [...]

CORPaTH2025-07-09T09:24:43-07:00July 9th, 2025|Categories: Economy|Tags: europe, pension assets|

The Unsung Economic Engine: Retiree Pension Spending

By Dan Doonan Source: Forbes When we think of economic impact across the U.S., certain industries often come to mind — finance, technology, healthcare, and manufacturing. But one important driver of the U.S. economy that gets scant attention is spending of pension income by retirees. Pensions often are viewed only through the narrow lens of retirement, as reliable monthly income for many U.S. retirees. For context, some 26 million retirees working in both the private and public sectors across [...]

CORPaTH2025-03-04T16:15:17-08:00March 3rd, 2025|Categories: Economy|Tags: pensions|

Senate committee advances Labor secretary nominee

By Brian Croce Source: Pensions & Investments The Senate Health, Education, Labor and Pensions Committee on Feb. 27 advanced Lori Chavez-DeRemer’s nomination for Labor secretary in a 13-9 vote. Three Democrats joined with Republicans to send Chavez-DeRemer’s nomination to the full Senate for consideration. Sen. Rand Paul, R-Ky., was the lone Republican to vote against her nomination. Paul had signaled his apprehension toward Chavez-DeRemer’s nomination because of her past support of the Protecting the Right to Organize Act, or [...]

CORPaTH2025-03-03T12:45:43-08:00February 27th, 2025|Categories: Economy|Tags: Lori Chavez-DeRemer, senate|

Defined Benefit Pension Spending Helps Local and National Economies

Source: NYSTRS Retiree spending of defined benefit (DB) pension benefits generated $1.5 trillion in total economic output, supported 7.1 million jobs across the country, and produced $224.3 billion in tax revenue in 2022, according to “Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures,” a new study from the National Institute on Retirement Security (NIRS). Pension spending “supports the economy and supports jobs where retirees reside and spend their benefits,” write the study’s authors, NIRS Executive Director [...]

CORPaTH2025-02-06T12:24:36-08:00February 5th, 2025|Categories: Economy|Tags: DB Plans, nirs, pension spending|

California pension beneficiaries send billions in economic ripples across the state

By William Belhado Source: Sacramento Bee Researchers recently found former state and local government employees contributed $28 billion in wages and salaries over the span of a year across California through pension spending. Those receiving benefits from CalPERS and other California pension plans in 2022 supported nearly 400,000 jobs in various industries such as healthcare and restaurants, researchers found. From casual eateries to sit-down restaurants, the service industry was the largest beneficiary of pension spending. Hospitals were a close [...]

CORPaTH2025-02-06T11:44:45-08:00January 29th, 2025|Categories: Economy|Tags: CalPERS, pension spending, retirees|

A ‘silver tsunami’ approaches, and the U.S. economy is not prepared

By Michele Norris Source: MSNBC We’ve been having the wrong conversation about aging in America. Let me be clear. It’s not that we’ve completely avoided the topic. During an election that pitted with two of the oldest presidential candidates in American history against each other, and especially after President Joe Biden’s calamitous debate performance, we spent a lot of time jawing about the age and capabilities of our political leaders. But that focus on the candidates’ elder status distracts us from [...]

CORPaTH2025-01-27T08:30:32-08:00January 27th, 2025|Categories: Economy|Tags: retirement, seniors|

Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures

Source: National Institute on Retirement Security Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures finds pension spending powered by U.S. private and public sector defined benefit pensions contributed significantly to the economy. In 2022, retiree spending of public and private sector pension benefits generated $1.5 trillion in total economic output, supporting 7.1 million jobs across the nation. In addition to its impact on employment and economic activity, pension spending bolstered public finances in 2022, adding $224.3 [...]

CORPaTH2025-01-13T15:11:54-08:00January 13th, 2025|Categories: Economy|Tags: DB Plans, nirs, Pensionomics 2025|

Pension Income Contributed $1.5T to US Economic Output in 2022

By Matt Toledo Source: Chief Investment Officer More than $680 billion in pension benefits were paid to 26.3 million beneficiaries in 2022, according to new researchfrom the National Institute on Retirement Security’s “Pensionomics 2025” report, which quantified the economic impact of defined benefit pension expenditures. “Virtually every state and local economy across the country benefits from the spending of pension checks,” wrote the report’s authors, NRIS Executive Director Dan Doonan and Ilana Boivie, an assistant director of strategic resources [...]

CORPaTH2025-01-08T15:38:34-08:00January 8th, 2025|Categories: Economy|Tags: Dan Doonan, National Institute on Retirement Security, Pensionomics 2025|

Many workers believe pensions are key to achieving the American Dream. But getting those plans back isn’t easy

By Lorie Konish Source: CNBC Many Americans long for the days when companies guaranteed workers income in retirement. That includes Sara Schambers, a fourth-generation Ford auto worker and member of the United Auto Workers union, who saw her grandparents retire with financial security. But after obtaining a permanent position in 2012, the same benefits have not been available to her. “Without a pension and post-retirement health care, you have people leaving this company after 30 years’ service with nothing [...]

CORPaTH2024-03-12T08:45:34-07:00March 1st, 2024|Categories: Economy|Tags: retirement income|

Julie Su’s Nomination for Secretary of Labor Passes Senate Committee

By Paul Mulholland Source: Plan Sponsor The Senate Committee on Health, Education, Labor and Pensions advanced Julie Su’s nomination to be Secretary of Labor to the full Senate late Tuesday by an 11 to 10, party-line vote. Su has served as acting secretary since March 2023, having been confirmed as deputy secretary in July 2021. The hearing was initially scheduled as a public hearing for Wednesday. Senator Bernie Sanders, I-Vermont and the chair of the HELP Committee, did not [...]

CORPaTH2024-02-29T11:11:34-08:00February 28th, 2024|Categories: Economy|Tags: HELP Committee, Julie Su, Secretary of Labor|

Public Pensions Support Race, Class, and Gender Equity in California

By Nari Rhee Source: UC Berkley Labor Center This report analyzes the impact of public sector employment and defined-benefit pensions—which provide secure monthly retirement income based on salary and years of service—on poverty and wealth outcomes by race, gender, and educational attainment in California. Based on data from the U.S. Census Bureau, this report complements the author’s national-level study, Closing the Gap: The Role of Public Pensions in Reducing Retirement Inequality, available at https://www.nirsonline.org/reports/closingthegap/. We find that public pensions [...]

CORPaTH2023-09-14T09:00:50-07:00September 14th, 2023|Categories: Economy|Tags: california, Class, Gender Equity, public pension, Race|

How portable benefits can support inclusivity among gig workers

By Wendy Cukier Source: Benefits Canada The concept of employee benefits was established on a foundation built decades ago, when employees worked full time and long term with one employer. Those days are long gone. Temporary, part-time and gig work have become the norm, accounting for 60 per cent of job growth in advanced economies since the 1990s. Gig work is popular in sectors such as the arts, entertainment and recreation and it’s also more prevalent among immigrants than [...]

CORPaTH2023-07-06T11:13:56-07:00July 6th, 2023|Categories: Economy|Tags: canada, gig work, portable benefits|

Building Trades promote “Opportunity Pipeline” for underserved

By Alec Larson Source: The Philadelphia Inquirer Philadelphia’s Building Trades business manager Ryan Boyer hosted North America’s Building Trades Unions (NABTU) president Sean McGarvey as part of his national push to promote the Building Trades’ training infrastructure with a focus on building pathways forward for underserved communities. Local labor leaders and city officials, including Democratic mayoral nominee Cherelle Parker and Philadelphia Mayor Jim Kenney, gathered at the Laborers’ Training Center on Thursday as McGarvey made the next stop on [...]

CORPaTH2023-06-12T16:29:42-07:00June 1st, 2023|Categories: Economy|Tags: North America's Building Trades Unions, philadelphia|

Unions welcome new protections for workers’ pensions

Source: Canadian Labour Congress Canada’s unions are happy to see Bill C-228 passed in the House of Commons today. This bill aimed to ensure that in the event of an employer becoming insolvent, the employer will have to prioritize paying pensions before addressing other financial liabilities. ‘‘Bill C-228 is about fairness for workers. We’re encouraged by the cross-party support for this legislation,’’ said Bea Bruske, President of the Canadian Labour Congress. “For decades we have seen companies pay out [...]

CORPaTH2023-02-23T16:43:36-08:00February 23rd, 2023|Categories: Economy|Tags: Bill C-228, canada, unions|

World’s biggest pension fund posts loss in longest losing streak in two decades

By Jenni Reid Source: CNBC Japan’s Government Pension Investment Fund — the world’s largest — reported a fourth consecutive quarterly loss on Friday, taking it to its longest losing streak in 20 years. The world’s largest pension fund saw a 0.97% loss on its investments in the last three months of 2022, equating to 1.85 trillion yen ($14.3 billion). The string of quarterly losses marks the pension fund’s longest stint in the red since it reported four quarters of falls [...]

CORPaTH2023-02-03T11:36:06-08:00February 3rd, 2023|Categories: Economy|Tags: Government Pension Investment Fund, Japan|

Washington puts indefinite hold on Albertsons’ $4-billion dividend as FTC begins asking questions

By Don Day Source: Boise Dev Albertsons Companies, in connection with its merger with Kroger, hoped to hand out a $4 billion dividend payment to shareholders last month. But it won’t be happening soon. The Washington State Superior Court decided to extend a temporary restraining order against the payment indefinitely. That extends an earlier order from a lower court that started in November and saw several delays. Last week, Albertsons won in a lower court, but the judge said [...]

CORPaTH2022-12-19T10:10:34-08:00December 19th, 2022|Categories: Economy|Tags: albertsons, dividend payment, Washington|

Largest U.S. Pension Buys Up Apple, Intel, and 2 More Big Stocks

By Ed Lin Source: Barrons The coming recession may be the most widely predicted recession in U.S. history. In the past, forecasters often did not realize we were in a recession until several months after it started. But professional forecasters surveyed in October projected an increase in the unemployment rate of 0.6 percentage point in 2023, to 4.3% from 3.7% this year. That suggests a recession is likely according to a rule promoted by economist Claudia Sahm, who found [...]

CORPaTH2022-11-17T14:31:26-08:00November 17th, 2022|Categories: Economy|Tags: apple, intel|

Employers favouring wage hikes over benefits enhancements amid high inflation

Source: Benefits Canada While Canadian employers recognize the value of retirement benefits, the current high inflation environment is driving them to favour wage hikes instead, according to a new survey by the Healthcare of Ontario Pension Plan and Angus Reid Group. The survey, which polled nearly 800 business owners and senior leaders, found employers’ leading concerns are greater competition for hiring (82 per cent), employee burnout (79 per cent), labour shortages (79 per cent) and high turnover (77 per [...]

CORPaTH2022-11-07T11:24:18-08:00November 7th, 2022|Categories: Economy|Tags: canada, retirement, wage hikes|

The Private Equity Guys Trying to Shoplift a Supermarket Chain Before They Sell It

By Moe Tkacik Source: Slate Earlier this week, four state attorneys general filed two separate lawsuits seeking to stop a clique of private equity firms from swiping $4 billion from the massive supermarket chain they own. It was a frankly shocking turn of events, given that, as anyone who has ever worked for one can attest, looting companies is quite literally what private equity firms do. Crazier still is what happened Thursday night: A judge granted the Washington AG’s [...]

CORPaTH2022-11-07T11:17:47-08:00November 7th, 2022|Categories: Economy|Tags: albertsons, dividend payment, kroger, merger|

Global CORPaTH Pension Alliance Seeks Delay of Albertsons’ Plan to Give $4 Billion in Dividends Pending Fulfillment of Pension Obligations

Source: Yahoo! Finance CORPaTH, a global alliance of pension administrators, trustees and advisers, joins local Unions of the United Food and Commercial Workers in demanding Albertsons delay an anticipated $4 billion dividend to shareholders until the company’s current pension obligations are assessed and fulfilled. Noting the UFCW has a significant role in applying for billions of dollars in support for its members’ pension plans from the American Rescue Plan Act’s Special Financial Assistance Program, CORPaTH Executive Director Ron Auer [...]

CORPaTH2022-11-04T11:32:47-07:00November 4th, 2022|Categories: Economy|Tags: albertsons, dividend payment, kroger|

That big Albertsons-Kroger merger will enrich millionaire insiders at your expense

By Michael Hiltzik Source: Los Angeles Times It should be obvious by now that the driving force of many corporate mergers, if not most or even all mergers, is the goal of enriching insiders. The pending merger of supermarket giants Albertsons and Kroger, however, injects that impulse with steroids. At the heart of the $20-billion deal announced Oct. 14 is a $4-billion dividend that was scheduled to be paid Monday to Albertsons stockholders until it was temporarily blocked by [...]

CORPaTH2022-11-04T11:12:15-07:00November 4th, 2022|Categories: Economy|Tags: albertsons, kroger|

(Just Some) of the Fruits of Our Labor

By Tom Croft Source: Heartland Capital Strategies The Heartland Network has been advocating— thru words and deeds — for a sustainable industrial policy since our inception over a quarter century ago. Heartland has been advising and pushing the Biden Administration and Congress for nearly two years now to bridge the gap between where we are and a truly sustainable productive economy strategy. We're getting close! Heartland was born in 1995 to rebuild America by sustainably investing workers’ capital in [...]

CORPaTH2022-10-27T16:05:47-07:00October 27th, 2022|Categories: Economy|Tags: Bipartisan Infrastructure Bill, Inflation Reduction Act, sustainable industrial policy|

Plan Sponsors Are Exploring Renewed Pensions

By Noah Zuss Source: Plan Sponsor In an employer’s battle to attract and retain the best employees, enhanced workplace benefits and robust retirement plans are ammunition. According to Jonathan Price, senior vice president and national retirement practice leader at Segal, employers that recognize the myriad financial challenges workers face—from everyday financial wellness habits to short-term budgeting and long-term retirement planning—are enhancing retirement and workplace benefits to recruit and retain workers, and help current employees feel more financially secure. “What [...]

CORPaTH2022-08-08T15:21:50-07:00August 8th, 2022|Categories: Economy|Tags: pensions, work force|

Global Trade Unions Release Baseline Expectations for Asset Managers on Fundamental Labour Rights

Source: Committee on Workers' Capital The Global Unions’ Committee on Workers’ Capital (CWC) has released its Baseline Expectations for Asset Managers on Fundamental Labour Rights (“CWC Baseline Expectations”). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable on fundamental labour rights. Global asset managers invest capital on behalf of workers’ retirement savings funds. Pension fund trustees [...]

CORPaTH2022-07-15T16:38:14-07:00July 15th, 2022|Categories: Economy|Tags: asset managers, esg|

Gender gaps in retirement readiness and financial know-how persist, despite strides made by women in last 50 years

By Sarah O'Brien Source: CNBC Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay. Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap [...]

CORPaTH2022-06-29T16:14:43-07:00June 29th, 2022|Categories: Economy|Tags: gender pay gaps|

China’s State Council outlines third pillar private pension framework

By Douglas Appell Source: Pensions & Investments China's State Council on Thursday unveiled the outlines of a long-awaited framework for a voluntary private pension system as the third pillar of the country's retirement safety net. Under the plan, participants will be able to contribute a maximum of 12,000 yuan ($1,885) a year to personal pension accounts, with preferential tax policies to encourage participation. The scale of the coming tax breaks wasn't specified. An announcement on the China Securities Regulatory [...]

CORPaTH2022-04-22T16:13:53-07:00April 22nd, 2022|Categories: Economy|Tags: china, China's State Council, voluntary private pension system|

Health and retirement benefits jump as key reasons employees join or stay with employer

Source: Yahoo! With the tight labor market showing little sign of abating, the importance of health and retirement benefits to attract and keep workers has soared to its highest level in a decade. Additionally, the number of employees willing to pay for more generous benefits has rebounded following a dip during the pandemic. These are among the key findings in a survey of more than 9,600 U.S. employees by WTW (Willis Towers Watson), a leading global advisory, broking and [...]

CORPaTH2022-04-21T14:41:41-07:00April 21st, 2022|Categories: Economy|Tags: health benefits, labor market, retirement benefits|

Public-Sector Pensions Help Drive Canadian Economy

Source: AI-CIO.com Canadian public pension funds are proving to be an important driver of the country’s economy, contributing more than 877,100 jobs and over C$82 billion (US$65.5 billion), or 3.6%, of its gross domestic product (GDP) annually, according to a recent report from the Canadian Centre for Economic Analysis (CANCEA). The report found that through the economic activity supported by spending their pension incomes, retired public pension members alone support more than 794,000 jobs and C$74 billion of Canada’s [...]

CORPaTH2021-11-22T15:45:21-08:00November 22nd, 2021|Categories: Economy|Tags: canada, Canadian public pension funds|

Alcoa purchases annuity to transfer $55 million in pension plan assets

By Rob Kozlowski Source: Pensions & Investments Alcoa Corp., Pittsburgh, agreed to purchase a group annuity contract to transfer $55 million in pension plan assets to an insurance company. The agreement, signed this month, transfers the benefit-paying responsibility for about 800 retirees and former employees in one of the company's pension plans in Suriname, the aluminum company disclosed in its 10-Q filing with the SEC. The transfer also moves $55 million in pension plan liabilities to the undisclosed insurer, [...]

CORPaTH2021-10-29T16:53:07-07:00October 29th, 2021|Categories: Economy|Tags: Alcoa Corp., annuity|

Middle Class U.S. Households Have Few Financial Assets

Source: National Institute on Retirement Security A new analysis finds that across generations, middle class households in the U.S. own few financial assets and the median amounts held fall far short of the assets needed to fund a secure retirement. In 2019, middle class Millennials owned only 14 percent of their generation’s financial assets. The numbers are even worse for middle class Gen Xers and Baby Boomers, which owned eight percent and six percent, respectively, of their generation’s financial [...]

CORPaTH2021-10-18T15:17:15-07:00October 18th, 2021|Categories: Economy|Tags: financial assets, middle class|

How to close the wealth gap from the bottom up

Source: The Washington Post More taxation of capital gains and estates could help shrink the United States’ wealth gap from the top down. The gap must also be closed from the bottom up, by bolstering access to the three key ingredients of middle-class wealth: owner-occupied homes, which represented the majority of household wealth for most people in 2019; financial assets, such as stocks, whose value, measured by the Dow Jones industrial average, has increased sevenfold since 1989; and human [...]

CORPaTH2021-07-27T13:40:40-07:00July 27th, 2021|Categories: Economy|Tags: wealth gap|

Uber grants UK drivers worker status after losing major labor battle

On the heels of losing a major labor battle in the United Kingdom, Uber will reclassify all U.K.-based drivers as workers. Under the new designation, more than 70,000 drivers will receive some benefits, including minimum wage, holiday time and pension contributions, but they will not get full employee benefits. Uber announced the change in a Securities and Exchange Commission filing, adding that its U.K. ride-hailing business accounted for 6.4% of all mobility gross bookings in the fourth quarter of [...]

CORPaTH2021-03-16T15:27:38-07:00March 16th, 2021|Categories: Economy|Tags: uber, uk|

Multiemployer Pension Relief Expected by March 14

The US Senate on March 6 passed the Butch Lewis Emergency Pension Plan Relief Act of 2021 (EPPRA) as part of the American Rescue Plan of 2021 (H.R. 1319), the Biden administration’s $1.9 trillion COVID-19 stimulus package. The bill was passed under the reconciliation process, requiring a simple majority vote. Because the Senate made some last-minute changes to EPPRA (which was initially proposed in the House of Representatives), the bill now moves back to the House, where it will [...]

CORPaTH2021-03-11T11:45:02-08:00March 11th, 2021|Categories: Economy, Multiemployer Plans|Tags: butch lewis act, EPPRA|

Biden’s 36-Year-Old Economist Has Her Eye on an Equal Recovery

In a one-bedroom apartment above a Washington neighborhood of bars, clubs and brunch spots, Janelle Jones is busy trying to fix the U.S. labor market -- one economic report and one Mario Kart race at a time. The Biden administration appointed the 36-year-old as the Department of Labor’s chief economist, a little-known position that will influence the futures of millions of people. In between wading through endless spreadsheets, enduring hours of video meetings and analyzing reams of economic data, [...]

CORPaTH2021-03-05T15:42:58-08:00March 5th, 2021|Categories: Economy|Tags: dept of labor, Janelle Jones|

COVID-19 Relief Bill Could Rescue Union Retirees’ Pensions

The COVID-19 pandemic relief legislation set for a vote this week in the House contains a provision to save struggling union pension plans that experts say has a good shot at passing, forecasting a possible end to a $65 billion funding crisis that threatens one million retirees' pensions. The American Rescue Plan, which cleared the House Budget Committee on Monday, would provide direct assistance to roughly 200 financially struggling union pension plans through the federal government's safety net for [...]

CORPaTH2021-02-25T14:42:15-08:00February 25th, 2021|Categories: Economy, Pension Funding|Tags: American Rescue Plan, COVID-19, House Budget Committee|

Employees want climate change pensions information

Research by workplace savings fintech Cushon has revealed employees overwhelmingly worry about whether their pensions are invested in firms that contribute to climate change – but still feel uninformed about it. The study found 84% of respondents are concerned about climate change and 69% are worried their company pension could be investing in businesses that are contributing to it. But according to the research, 99.5% of employees have no idea about the scale of carbon emitted as a result [...]

CORPaTH2021-02-18T10:27:10-08:00February 18th, 2021|Categories: Economy, Pension Funding|Tags: climate change|

Walsh pledges revamped effort on worker rights

Tackling issues on workers' rights and safety will be top of mind for Marty Walsh if he's confirmed to lead the Department of Labor, but he also vowed to address the mounting multiemployer pension crisis during his Senate confirmation hearing Thursday. Mr. Walsh, who has served as Boston's mayor since 2014 and is President Joe Biden's nominee for labor secretary, has an extensive labor background, including leading the Boston Metropolitan District Building Trades Council from 2011-2013. Retirement issues weren't [...]

CORPaTH2021-02-04T14:23:56-08:00February 4th, 2021|Categories: Economy|Tags: dept of labor, Marty Walsh|

Rep. Andy Levin pledges involvement for fossil fuel workers in green energy shift

Rep. Andy Levin on Tuesday stressed that a push by the Biden administration and Congressional Democrats towards clean energy must not ignore the workers whose fossil fuel industry jobs would be displaced. A union organizer and former assistant director of organizing at the national AFL-CIO, Levin (D-Mich.) said that it's important to let workers who will be affected by the transition know that the shift will be done with their needs in mind. "We're going to build this transition [...]

CORPaTH2021-02-04T14:22:06-08:00February 4th, 2021|Categories: Economy|Tags: andy levin, fossil fuel industry|

Essential workers face major Covid-19 risk because of outdated safety rules

The TUC Tuesday called on the government to urgently update workplace safety rules to protect essential workers and those who can’t work from home from Covid-19. Since the rules were published in March 2020, the scientific understanding of how the virus spreads has changed. And the UK is now battling a strain that is far more easily transmitted. Yet the rules have not been fully updated – and the union body says that this is putting workers at risk. [...]

CORPaTH2021-01-06T14:26:27-08:00January 6th, 2021|Categories: Economy|Tags: safety rules, TUC, uk|

Vast majority of managers still on lockdown

The number of money management firms with employees working from home has barely budged over the summer, a Callan survey released Wednesday showed. Callan said 81% had not opened their offices as of Aug. 15, nearly the same as the 84% that had reported keeping their doors closed in June. The investment consultant's second "Coping with COVID-19" survey report said 44% of the 98 responding firms have not set a date for returning to the office. Of the remaining [...]

CORPaTH2020-09-17T08:54:46-07:00September 17th, 2020|Categories: Economy|Tags: COVID-19, money management firms|

Real estate executive Peter Palandjian lines up a who’s who of Corporate Boston for voting initiative

Low voter turnouts in the US have always bothered Peter Palandjian. After the COVID-19 pandemic and waves of racial unrest overlapped this spring, he decided to do something about the issue. Palandjian, chief executive of Boston-based Intercontinental Real Estate Corp., is launching the “A Day for Democracy” project this week. It’s a nonpartisan pledge card initiative aimed at rounding up employers of all sizes who will work to increase voter participation, in part by promising to give employees some [...]

CORPaTH2020-08-04T11:40:02-07:00August 4th, 2020|Categories: Economy|Tags: intercontinental, peter palandjian, voting|

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

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 [...]

CORPaTH2020-05-13T15:38:17-07:00May 13th, 2020|Categories: Economy|Tags: CARES Act, COVID-19, HEROES Act, PBGC|