Category: defined-benefit pensions

New Bill Will Protect Employee Pensions if Company Declares Bankruptcy

The House of Commons passed a private member’s bill on Nov. 23 that will protect employee pensions if a company declares bankruptcy. Sponsored by Conservative MP Marily Gladu, Bill C-228 passed unanimously with a vote of 318 to 0. The bill was based on a concept that had previously been attempted in multiple legislative attempts over the…


Meal Ticket No More: The ‘Gold Standard’ Private Pensions Exposed Now as High-Wire Busts

Like many retirees, Jesus Nunez knew he was due a pension but was having a hard time tracking it down. Now 66, the Burbank, Illinois, resident had worked as a painter and garage worker for the Checker Taxi Co. Inc from 1978 to 1986 and then another year for its successor concern. But when Checker Motors…