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House relief act comes with multiemployer changes – and controversy

05/15/2020 | Pensions & Investments

The House narrowly approved another coronavirus relief legislative package late Friday that includes major changes for multiemployer pension plans, but with far less bipartisan support than previous measures.

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House Bill Promises Free Coronavirus Treatment, Pension Aid

05/12/2020 | Law360

House Democrats' $3 trillion proposal for the next coronavirus relief package, released Tuesday, promises free coronavirus treatment, aid to troubled pension plans and more benefits assistance to out-of-work Americans, including help with health insurance payments and access to enhanced unemployment benefits until January.

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Pandemic Relief Could Risk Spousal Retirement Security

05/05/2020 | Chief Investment Officer

Retirement plan industry groups are requesting changes to regulations that would make it easier for employees and retirees to access their retirement savings during the COVID-19 pandemic. 

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Multiemployer Plans Urgently Need Help to Avoid Catastrophe

04/28/2020 | Plan Sponsor

Many multiemployer plans were already on the brink of collapse before the market downturn caused by COVID-19 came in like a wrecking ball.

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Estranged Couples to Fight Over Virus-Stung Retirement Funds

04/16/2020 | Bloomberg Law

The coronavirus pandemic could give estranged couples something else to fight over: shrinking retirement accounts stuck in a bureaucratic limbo between courts and plan administrators.

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Unions Say Next Virus Relief Package Needs Pension Reform

04/15/2020 | Law360

Union pension funds — already ailing and facing the possibility of a faster demise in a strained economy — are pushing Congress to use the next round of coronavirus relief legislation to give them the help they need to avoid going belly up.

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Pandemic Spurs Push for Easing Pension Change Consent Rules

04/09/2020 | Bloomberg Law

Business groups want to make it easier for pension holders facing pandemic-induced financial problems to take large lump sum withdrawals.

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Companies hammered by coronavirus pandemic look to drop 401(k) matches

04/02/2020 | Fox Business via Yahoo Finance

A growing number of companies are reducing, or eliminating, the contributions they make to their employees’ 401(k) plans, trying to cut costs as the coronavirus pandemic wallops their profits and revenues. 

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Companies slammed by coronavirus look to cut contributions to their employees' 401(k)s

04/01/2020 | USA Today

More corporations are looking to temporarily halt 401(k) contributions, trying to cut costs as the coronavirus crisis hits their revenue and profits, labor attorneys said.

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Construction Company Workers Get Support in Stock Plan Appeal

03/31/2020 | Bloomberg Law

The Pension Rights Center waded into a dispute involving Choate Construction Co.'s employee stock ownership plan, urging the Fourth Circuit to revive the employees’ lawsuit and recognize the “special risks” these plans pose for workers.

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