Tag: Benefit cutback|Congress|ERISA|Legislation|Multiemployer plan|PBGC|PBGC limits/ guarantees|Pension Rights Center|Traditional (defined benefit) pensions|Underfunding
Editorial: Middle-class retirees deserve better from Congress
The devastating pension reform crammed into the omnibus spending bill that will likely soon become law would allow pension trustees to slash the benefits of retired workers and cut future benefits for a shrinking pool of middle-income employees.
House approves bill to allow multiemployer pension plan benefit cuts
Trustees of financially distressed multiemployer pension plans would be allowed to cut participants’ benefits to prevent the plans from becoming insolvent under legislation narrowly approved by the House of Representatives Thursday night.