Lawmakers in Connecticut have passed de-risking legislation that has been sent on to Governor Dannel Malloy for signature. Stone is quoted as saying “This bill is an important step in the right direction for retirees.” See “De-Risking Bill Sent to Connecticut Governor; N.Y. Measure Stalled in Insurance Committee”, by Sean Forbes. Reproduced with permission from BNA Pension & […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00lisahttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpglisa2015-06-09 21:37:202015-06-09 21:37:56“This bill is an important step in the right direction for retirees”
On Wednesday, June 3rd, 2015 the Connecticut Senate unanimously voted to pass H.B. 6772, providing creditor protections to retirees in pension de-risking transactions. The bill will now be presented to Governor Malloy for signature. ProtectSeniors.org, a non-profit group advocating for retirees in Connecticut and across the nation led the charge in passing this legislation. As special […]
Edward Stone testified before the U.S. Department of Labor’s Advisory Council on Employee Welfare and Pension Benefit Plans (ERISA Advisory Council) on May 28, 2015. Stone testified on the need for disclosures to retirees both pre and post pension risk transfers. Recommended disclosures prior to pension risk transfer included: A detailed disclosure statement that contains […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00lisahttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpglisa2015-06-01 19:11:312015-06-03 19:23:26Stone testifies before ERISA Advisory Council
Two Edward Stone Law cases were featured prominently in today’s Wall Street Journal – “Firms Help Settlement Holders Cash Out Payments Meant to Last a Lifetime”. What the WSJ article fails to describe is the high pressure predatory sales tactics used to raid large structured settlement annuities that were intended to last a lifetime. The […]
Edward Stone will be a guest speaker at the Society of Settlement Planners 2015 Annual Conference in Las Vegas on March 30, 2015. Mr. Stone’s presentation will focus on the risks to settlement planners in the aftermath of the Executive Life Insurance Company of New York (ELNY) failed rehabilitation and eventual liquidation.
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00lisahttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpglisa2015-03-22 13:40:372015-03-30 22:35:30Stone to Speak at Society of Settlement Planners Annual Conference
The structured settlement business is shrinking as falling demand makes them less attractive to claims professionals. But a potentially bigger issue for the industry involves ongoing litigation involving Executive Life of New York (ELNY). In a new article for LifeHealthPro, attorney Edward Stone highlights the impact this litigation has for both a major structured settlement […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00lisahttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpglisa2014-10-28 20:58:532015-06-09 21:38:24Tough Times for Structured Settlements
These issues keep coming up again, and again. Are annuities safe? Should you lock up all your money in one single annuity? As Dennis Beaver, columnist for the Hanford Sentinel, and a Bakersfield, California attorney told his readers in a recent column “determining if an annuity is right for you requires a careful financial analysis conducted […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00ginnyhttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpgginny2014-07-28 19:31:062014-07-28 19:31:06Once Again, “Don’t Put All Your Eggs in One Basket”
Defined benefit plan sponsors have been quietly working to reduce corporate liabilities by moving retirees out of defined benefit plans and into group annuity contracts. This practice, known to retirees as “pension stripping” takes away the uniform protections intended by Congress under the Employee Retirement Income Security Act (ERISA) and dumps the retirees into the […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00ginnyhttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpgginny2014-06-10 16:08:252014-06-10 16:08:25Pension Plan De-Risking Causes Concern for Unions and Retirees with Defined Benefit Plans
ProtectSeniors.Org is leading a grass roots campaign advocating for the enactment of state legislation to protect retirees who have been moved out of their ERISA protected defined benefit pension plans and into group annuity contracts. As Special Counsel to ProtectSeniors.Org, Edward Stone Law has assisted the organization in their efforts to educate their membership on […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00ginnyhttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpgginny2014-06-06 17:31:142014-06-06 17:32:12ProtectSeniors.Org is Leading Grass Roots Campaign Supporting Protections for Retirees in Pension Stripping Transfers
Edward Stone spoke at the Society of Settlement Planners, 2014 Annual Conference in New Orleans on April 28th. Mr. Stone’s presentation, “ELNY – Lessons Learned and the Impact Going Forward” was well received by those attending the conference. For those settlement planners present who were not active in the industry over 20 years ago when […]
https://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpg00ginnyhttps://edwardstonelaw.com/wp-content/uploads/2019/07/Edward-Stone-Law-Logo-Web-1.jpgginny2014-04-30 19:52:072014-04-30 19:52:07Stone Speaks at Society of Settlement Planners 2014 Annual Conference
“This bill is an important step in the right direction for retirees”
Lawmakers in Connecticut have passed de-risking legislation that has been sent on to Governor Dannel Malloy for signature. Stone is quoted as saying “This bill is an important step in the right direction for retirees.” See “De-Risking Bill Sent to Connecticut Governor; N.Y. Measure Stalled in Insurance Committee”, by Sean Forbes. Reproduced with permission from BNA Pension & […]
CT Senate Passes H.B. 6772 – Pension De-Risking
On Wednesday, June 3rd, 2015 the Connecticut Senate unanimously voted to pass H.B. 6772, providing creditor protections to retirees in pension de-risking transactions. The bill will now be presented to Governor Malloy for signature. ProtectSeniors.org, a non-profit group advocating for retirees in Connecticut and across the nation led the charge in passing this legislation. As special […]
Stone testifies before ERISA Advisory Council
Edward Stone testified before the U.S. Department of Labor’s Advisory Council on Employee Welfare and Pension Benefit Plans (ERISA Advisory Council) on May 28, 2015. Stone testified on the need for disclosures to retirees both pre and post pension risk transfers. Recommended disclosures prior to pension risk transfer included: A detailed disclosure statement that contains […]
Structured Settlement Fraud
Two Edward Stone Law cases were featured prominently in today’s Wall Street Journal – “Firms Help Settlement Holders Cash Out Payments Meant to Last a Lifetime”. What the WSJ article fails to describe is the high pressure predatory sales tactics used to raid large structured settlement annuities that were intended to last a lifetime. The […]
Stone to Speak at Society of Settlement Planners Annual Conference
Edward Stone will be a guest speaker at the Society of Settlement Planners 2015 Annual Conference in Las Vegas on March 30, 2015. Mr. Stone’s presentation will focus on the risks to settlement planners in the aftermath of the Executive Life Insurance Company of New York (ELNY) failed rehabilitation and eventual liquidation.
Tough Times for Structured Settlements
The structured settlement business is shrinking as falling demand makes them less attractive to claims professionals. But a potentially bigger issue for the industry involves ongoing litigation involving Executive Life of New York (ELNY). In a new article for LifeHealthPro, attorney Edward Stone highlights the impact this litigation has for both a major structured settlement […]
Once Again, “Don’t Put All Your Eggs in One Basket”
These issues keep coming up again, and again. Are annuities safe? Should you lock up all your money in one single annuity? As Dennis Beaver, columnist for the Hanford Sentinel, and a Bakersfield, California attorney told his readers in a recent column “determining if an annuity is right for you requires a careful financial analysis conducted […]
Pension Plan De-Risking Causes Concern for Unions and Retirees with Defined Benefit Plans
Defined benefit plan sponsors have been quietly working to reduce corporate liabilities by moving retirees out of defined benefit plans and into group annuity contracts. This practice, known to retirees as “pension stripping” takes away the uniform protections intended by Congress under the Employee Retirement Income Security Act (ERISA) and dumps the retirees into the […]
ProtectSeniors.Org is Leading Grass Roots Campaign Supporting Protections for Retirees in Pension Stripping Transfers
ProtectSeniors.Org is leading a grass roots campaign advocating for the enactment of state legislation to protect retirees who have been moved out of their ERISA protected defined benefit pension plans and into group annuity contracts. As Special Counsel to ProtectSeniors.Org, Edward Stone Law has assisted the organization in their efforts to educate their membership on […]
Stone Speaks at Society of Settlement Planners 2014 Annual Conference
Edward Stone spoke at the Society of Settlement Planners, 2014 Annual Conference in New Orleans on April 28th. Mr. Stone’s presentation, “ELNY – Lessons Learned and the Impact Going Forward” was well received by those attending the conference. For those settlement planners present who were not active in the industry over 20 years ago when […]