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Under current law, employers may only use surplus pension assets for other benefits if they terminate the pension plan, but the American Benefits Council said their proposals would raise billions of dollars of revenue and be beneficial for employees, employers and taxpayers.
While President Trump promises to “always protect” Social Security, the Schwarz Center for Economic Policy Analysis has tactical recommendations for President Trump, as well as legislative action Congress should take, to restore trust in the federal agency.
With the steep plunge in Tesla shares this year, the Lehigh County Pension Board, which oversees $500 million in retirement funds, passed a resolution last week to pause new investment in Tesla and will seek to completely divest its holdings.
The proposal, which calls for hiking the required pension contribution for federal employees to 4.4% of salary, will now advance to the House Budget Committee.
Earlier this month, the American Federation of Teachers president urged chief fiduciary officers to urgently review their Telsa holdings in pension funds. Now Canada’s largest federal public sector union is following suit.
Following the administration’s tariff announcement, approximately $169 billion was lost during the April 3-8 trading day period (and $248.8 billion in assets in 2025), according to the non-profit pension fund institution.
The class action lawsuit filed by employees who alleged they were shorted on pension payments, was originally dismissed after plaintiffs missed the 3-year deadline to file a fiduciary claim, however, the Labor Department came to the workers’ defense.
To clear up any confusion for administrators of both single-employer and multi-employer defined benefit plans, the Department of Labor has issued new guidance for annual AFN notices that are due by April 30, 2025.
Given the steep plunge in Tesla shares this year, the AFT President is urging money managers to "safeguard retirement assets" and urgently review their current holdings in electric car Tesla, which is a target of political protests amid growing animosity for the brand.