A Message From the Editor
“When their company files for bankruptcy, employees should not have to worry” that they will lose their retirement savings, said Senator Dick Durbin, introducing the Protecting Employees and Retirees in Business Bankuptcies Act this week. The bill would “ensure that all employees, not just C-suite executives, receive the benefits they were promised.” A case in point: St. Clare’s Hospital, where 1,100 workers have been attempting to recover their pensions, after the hospital closed 17 years ago. Now at the New York Supreme Court, AARP and the state attorney general have joined the case, which could have implications nationwide.
– Lynn Cavanaugh, Senior Editor, Retirement,
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