Press Release

Pension Rights Center Receives $560,000 Cy Pres Award

Issued by Pension Rights Center

Feb. 27, 2023

The Pension Rights Center, a nonprofit consumer organization dedicated to protecting and promoting retirement security, is grateful to have been designated as a recipient of a $560,000 cy pres award by the law firm Bailey & Glasser. 

A cy pres award allows for the distribution of leftover funds from the settlement of a lawsuit to be disbursed to charitable organizations whose mission generally aligns with the purpose of the lawsuit. Attorney Gregory Porter is “delighted that undisbursed money is going to the Pension Rights Center, which has been working for 47 years to protect retirement security for workers and retirees, particularly for lower and moderate wage earners.” 

Karen Friedman, Executive Director of the PRC, said she is extremely grateful. “We are delighted to be the recipient of the cy pres award to support our critical work. This award will go a long way toward supporting legal assistance activities to help thousands of individuals recover retirement benefits they have earned and to promote policies that expand retirement income savings and close gaps in the pension system.”

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.