Retirees

Battling the Oil Giant: Texas Judge Rules in Favor of 7,000 BP Retirees in Pension Dispute

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Houston, Texas—A federal judge in Texas has ruled in favor of more than 7,000 BP retirees who claimed that the energy company interfered with their pension plans and shortchanged their retirement benefits. The judge’s decision comes after a lengthy legal battle between the retirees and BP, and could have significant financial implications for the oil giant. The retirees alleged that BP manipulated their pension plans, resulting in lower retirement benefits than what they were entitled to. The class-action lawsuit, which was filed in 2019, accused BP of violating federal pension laws and breaching its fiduciary … Read more

New California Law Allows Retirees to Keep Assets and Qualify for Medi-Cal

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Los Angeles, California – A new California law set to take effect on January 1, 2024 could have significant implications for retired individuals. Under this law, assets such as bank accounts, cash, and second vehicles will no longer be considered when determining eligibility for Medi-Cal, the state’s Medicaid program. This means that even those with significant assets, including a million dollars in the bank, could still qualify for Medi-Cal. For retired individuals on Medicare, qualifying for Medi-Cal can be like having long-term care insurance without the expensive premiums or the need for a physical exam. … Read more