Tag: Benefit cutback|Congress|ERISA|Legislation|Lump sum|Multiemployer plan|PBGC limits/ guarantees|Pension Rights Center|Traditional (defined benefit) pensions
Big change to law on union pensions
A new law passed by Congress in December could affect more than one million union workers and retirees who are covered by union-sponsored multiemployer pension plans. The law, which is now in effect, allows the trustees of severely distressed pension plans to reduce benefits for current and future retirees — if doing so can save […]
