01.03.24 #22 NUCPP MAKES DONATION TO PRC
#22 NUCPP AT WORK!
JANUARY 3, 2024
NUCPP MAKES DONATION TO PRC
Dear Ken, Dana, Bernie and Davey and all of you,
On behalf of the Pension Rights Center’s staff and board of directors, I want to thank you for NUCPP’s generous December 2023 contribution. This donation will help us continue our important work to realize our vision of an America where all workers, retirees, and their families are able to enjoy a secure and adequate retirement.
Among our activities, we have been monitoring progress on the implementation of key consumer protections in the Setting Every Community Up for Retirement Enhancement Act of 2022 (commonly referred to as SECURE 2.0). In particular, we are working to ensure that the Retirement Savings Lost and Found Registry, a new online database administered by the Department of Labor, will be optimally effective in helping individuals find their lost retirement plans so they can apply for their earned benefits. We are also educating workers and retirees and their advocates about the recoupment provisions which protect retirees when their plans accidentally overpay them and then demand repayment. Already we have heard from some of the pension counseling project attorneys, to whom we provide technical assistance, that these provisions have helped them preserve benefits for vulnerable retirees and spouses.
In addition, this year we continued to advocate with the IRS/Treasury Department to protect key spousal protections and recently testified before the ERISA Advisory Council to recommend consumer protections when companies “de-risk” by transferring their pension liabilities to insurance companies. We also continue to educate the public about the success of the Butch Lewis Emergency Pension Plan Relief Act, which has been an unparalleled success in providing an important lifeline to financially challenged multiemployer pension plans – and bringing monetary and mental stress relief to hundreds of thousands of retiree-plan-members, their spouses, their families, and their communities.
As we have done for decades, we are directly helping workers and retirees recover the benefits they have earned, while also bolstering the work of the six regional pension counseling projects. We are also advancing our pioneering Initiative on Women and Retirement at Divorce, which is working to help women navigate retirement rights in divorce.
Thank you again for your generous support. The Pension Rights Center is an IRC Section 501(c)(3) nonprofit organization. No goods and services were provided in exchange for your gift, which is tax deductible if you itemize.
Sincerely,
Karen D. Friedman
Executive Director
cc: Dana Vargo, Bernie Anderson
Take Care and Stay Safe!
NUCPP Board of Directors
Dana M. Vargo
Director of Communications
National United Committee to Protect Pensions