- U.S. Navy to start giving gay couples marriage benefits in Japan
- Sen. Harry Reid goes to hospital as a precaution
- Fla.’s Trey Radel exits rehab, ‘excited’ to resume congressional role
- U.S. nuclear general boozed it up, chased ‘hot women’ in Russia: report
- 45 Calif. students at one school test positive for tuberculosis exposure
- Rob Ford on women: Give them cash ‘and they are happy’
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- Airport assassination: Mayor, 3 others killed at Manila airport
- Tea party-type lawmakers take mysterious, off-books trip to Mideast
- North Korea warns South: We’ll attack ‘without warning’
By Michael P. Orsi
Edward Snowden should declare his patriotism in court
Independent voices from the The Washington Times Communities
Topic - Pension Benefit Guaranty Corp.
Organized labor has long pointed to pensions as a key reason to join their unions, but many of those promised benefits are now in serious trouble. After decades of promising a secure retirement, unions need to chip in and protect their members' pensions.
The federal program that protects workers in multiemployer pension plans expects to be exhausted in 10 to 15 years, and the financial hit will most likely land on retirees, a new report said this week.
Phone company Verizon Communications Inc. on Monday said it has transferred $7.5 billion in pension obligations to Prudential Insurance after a retiree association failed to convince a court to stop the move.
Verizon retirees have sued the phone company because it's planning to transfer the responsibility of paying their pensions to an insurance company, where they will have weaker legal protection.
In 2009, the U.S. government bailed out the auto industry, ostensibly to save the livelihoods of thousands of Americans who work for automakers and their supporting companies.
New federal rules proposed Wednesday would require all high-risk mortgage lenders to obtain property appraisals for the first time.
President Obama famously pledged that his “administration is committed to creating an unprecedented level of openness in government” and that he would “establish a system of transparency.” For Delphi Corp. salaried retirees, the administration has failed to live up to its commitment and, even more troubling, has actively sought to evade providing answers both retirees and Congress have been seeking for years.
A new law will let companies contribute billions of dollars less to their workers' pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
Consumers are giving a modest lift to the economy.
The Washington Times wants the Pension Benefit Guarantee Corp. (PBGC) reforms to avoid a taxpayer bailout ("The coming pension earthquake," Comment & Analysis,Wednesday). I couldn't agree more.
More bailouts are on the horizon. Even though taxpayers will shell out at least $250 billion to cover losses from Fannie Mae and Freddie Mac, there's another, much less known federally chartered corporation that's racking up the red ink - currently $23 billion worth. The Pension Benefit Guaranty Corp. (PBGC) could be the next to fall.
The White House found itself on the defensive over Obama's appointment of a key official to help implement his health care overhaul, facing a torrent of criticism from lawmakers who said the move short-circuits the legislative-oversight process.