Tag: Benefit cutback|Congress|ERISA|Legislation|Multiemployer plan|PBGC|PBGC limits/ guarantees|Pension Rights Center|Single-employer plan|Traditional (defined benefit) pensions|Treasury Department
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.
