Please ensure Javascript is enabled for purposes of website accessibility
The Federal Government Gave Up on Retirement Security
News
By News
Published 5 years ago on
April 1, 2019

Share

[aggregation-styles]

The Federal Government Gave Up on Retirement Security

Recently, the U.S. Treasury said that it is perfectly okay for companies to swindle employees out of their pension by offering one-time payments worth less than the pension that those employees are giving up. The Department of Labor, nominally responsible for protecting workers in retirement plans, said nothing. This isn’t the first time the government stood by as American businesses shifted risks onto their employees and retirees. Treasury and Labor, whose decisions shape the retirements of millions of people, have for years been letting companies offer a one-time payment instead of the lifetime pension they committed to.
The scandal is that the one-time payment doesn’t even have to be equal in value to the pension. It can be worth less—in fact, under rules passed by Congress and regulations issued by the Treasury, it usually is.

Read More →

RELATED TOPICS:

DON'T MISS

Surprising Ways and Places You Can Use SNAP EBT Food Benefits

DON'T MISS

Californians Worry About Crime, Setting up a Ballot Measure Showdown

DON'T MISS

The Pickle Flavor Frenzy and Its Rise in Food Trends

DON'T MISS

Kate Hudson Had a Lifetime to Make a Record. The Result is ‘Glorious,’ Out in May

DON'T MISS

Long-Lost First Model of USS Enterprise from ‘Star Trek’ Boldly Goes Home

DON'T MISS

California Leaders Take Sides in Monumental Supreme Court Case on Homelessness

DON'T MISS

Man Sets Himself on Fire Outside Trump Hush Money Trial Court

DON'T MISS

McDonald’s Ice Cream Machines Are So Unreliable They’re a Meme. They Might Also Be a Climate Solution.

DON'T MISS

Real Estate Experts Talk Fresno’s Economic Future. Are Tough Times Ahead?

DON'T MISS

Unlocking the Secrets to Fresno State’s Superb Baseball Season

UP NEXT

Rise of the Anti-“Woke” Democrat

UP NEXT

High-Level Saudi Visit Follows Multimillion-Dollar Foreign Influence Operation

UP NEXT

Iran and Russia Move to Fill Diplomatic Vacuum in Afghanistan

UP NEXT

Pelosi’s Husband Locked In $5.3 Million From Alphabet Options

UP NEXT

Experts Reportedly See Major Damage in Attack on Iran Centrifuge Plant

UP NEXT

Opinion: School Choice Marches Ahead

UP NEXT

Zakaria: Americans Care About History Because the Stakes Are High

UP NEXT

California Democrats Are Reliably Pro-Labor. But One Union Is Testing Their Patience.

UP NEXT

The Tightrope Walk Democrats Have Ahead on Two Separate Infrastructure Bills

UP NEXT

Bill Barr on Trump’s Election Fraud Claims: “It Was All Bullsh*t”

Kate Hudson Had a Lifetime to Make a Record. The Result is ‘Glorious,’ Out in May

2 days ago

Long-Lost First Model of USS Enterprise from ‘Star Trek’ Boldly Goes Home

2 days ago

California Leaders Take Sides in Monumental Supreme Court Case on Homelessness

2 days ago

Man Sets Himself on Fire Outside Trump Hush Money Trial Court

3 days ago

McDonald’s Ice Cream Machines Are So Unreliable They’re a Meme. They Might Also Be a Climate Solution.

3 days ago

Real Estate Experts Talk Fresno’s Economic Future. Are Tough Times Ahead?

3 days ago

Unlocking the Secrets to Fresno State’s Superb Baseball Season

3 days ago

‘This Is How to Improve Reading Proficiency. We Just Have To Execute It’: FUSD Board President

3 days ago

Does Dyer Support (or Endorse) Bredefeld for Supervisor?

3 days ago

Get a 3D First Look at Merced’s High-Speed Rail Station Design

3 days ago

Surprising Ways and Places You Can Use SNAP EBT Food Benefits

Did you know that SNAP EBT benefits used to be called food stamps and that recipients can use those benefits to get healthy food in places o...

1 day ago

1 day ago

Surprising Ways and Places You Can Use SNAP EBT Food Benefits

1 day ago

Californians Worry About Crime, Setting up a Ballot Measure Showdown

2 days ago

The Pickle Flavor Frenzy and Its Rise in Food Trends

2 days ago

Kate Hudson Had a Lifetime to Make a Record. The Result is ‘Glorious,’ Out in May

2 days ago

Long-Lost First Model of USS Enterprise from ‘Star Trek’ Boldly Goes Home

2 days ago

California Leaders Take Sides in Monumental Supreme Court Case on Homelessness

3 days ago

Man Sets Himself on Fire Outside Trump Hush Money Trial Court

3 days ago

McDonald’s Ice Cream Machines Are So Unreliable They’re a Meme. They Might Also Be a Climate Solution.

MENU

CONNECT WITH US

Search

Send this to a friend