Edward Stone – Guest Speaker at Association of BellTel Retirees 2018 Annual Meeting
Edward Stone, Special Counsel to ProtectSeniors.org was a guest speaker at the 2018 annual membership meeting of the Association of BellTel Retirees in Atlantic City, New Jersey on June 6, 2018. Mr. Stone’s presentation on pension derisking offered retirees information on the status of state legislative initiatives in New York, New Jersey, Virginia, Massachusetts, Pennsylvania, and Connecticut. Stone stressed to the retirees the importance of taking action now to protect their retirement benefits. Retirees lose all federal protections provided by the Employee Retirement Income Security Act (ERISA) and the Pension Benefit Guaranty Corporation (PBGC) in a pension derisking transfer. Protections that are lost include: uniform protection from creditors and bankruptcy trustees; ERISA’s fiduciary duty standards; mandated annual financial disclosures; minimum funding thresholds; ready access to the federal courts; and PBGC coverage. State legislation must be enacted to replace the protections that have been lost. If you would like more information on pension derisking, please contact Edward Stone Law at admin@edwardstonelaw.com.