How Did It Happen? Disastrous Pension Bill Is Now Law
Congress approved pension cut legislation in a sneak attack amendment to the budget bill. The fight to protect Teamster pensions is on. Teamsters and retirees are joining the Pension Justice Campaign.
Congress punishes retirees for company lapses
When Congress passed the spending bill in December to keep the government running, a hidden provision in the act sent shivers of fear into the retirement industry. The provision allows underfunded multi-employer pension plans to reduce benefits for retirees so the government pension insurance fund won’t have to bail out the plans.
Illinois creates novel savings plan
Illinois has just adopted a unique plan to get its residents to invest for retirement — automatic enrollment in a savings program for private-sector workers whose employer doesn’t offer a 401(k) or similar plan.
Illinois Is First State With New Savings Plan for Workers
Illinois will become the first state with a broad-based effort to automatically enroll private-sector employees without retirement plans into a new savings program.
The Republican Congress’s First Salvos: Corporations: 5 – Workers: 1
The Omnibus spending bill just passed by Congress indicates clearly that the Republican Legislative Offensive is being rolled out faster than otherwise might have been predicted.
A Historic End to the 113th Congress Caps a Remarkable Year in Politics
The final days of the 113th Congress — coming just days before Christmas and the new year — brought with it the end of a turbulent month — and year — of American politics.
Courtney: Six more Triangle employees claim lost pension benefits
The New England Pension Assistance Project is mentioned again, in this follow-up article about the Triangle Wire mass recoupment case (see the December 23 story).
That solid pension benefit? It may be subject to change
In the fine print of the federal budget compromise, troubled pension plans now have the right to reduce benefits
Pension law change alarms retiree groups
Forty years after Congress took steps to guarantee that retirees get the pensions they were promised, another generation of lawmakers has taken a chisel to those legal protections.
Former Triangle Wire workers fight to retain pensions
The New England Pension Assistance Project is featured in this article about a mass recoupment case, in which a pension plan overpaid several retirees for years and now those pensions are being cut or eliminated entirely. In some cases, the plan is also demanding that the retiree pay back hundred of dollars at once.
New federal law allows pension cuts
More than 100,000 New Yorkers could face cuts in their union pensions in coming years, thanks to a provision that was tucked into Congress’ omnibus spending bill this month to keep the federal government funded for another year. The measure would, under certain conditions, allow cuts to what are known as multi-employer pensions.
Merry Christmas, Seniors. Eat, drink and be merry, for tomorrow they may cut your pension.
House Republicans quietly snuck in a number of egregious add-ons to the spending bill. One of those add-ons allows employers of certain companies whose pension funding is in trouble to simply cut the amount of retirement pension they promised retirees.
