PRC In the News
12/11/14|Los Angeles Times

Congress poised to allow cuts to private pension payouts

More than 1 million Americans who were promised secure, predictable retirement income probably will see part of their monthly benefit checks evaporate as Congress moves to stabilize some private pension systems veering toward insolvency.

PRC In the News

Congress Says It Has to Cut Pensions to Save Them

Joshua Gotbaum doesn’t like telling retirees that their pensions are about to be cut. After all, until August he was the director of the Pension Benefit Guaranty Corporation (PBGC), the federal insurance fund that’s supposed to safeguard pensions. But yesterday Gotbaum interrupted a vacation in Madrid to return my call asking about a bill working […]

PRC In the News

Pension Deal In Spending Bill Will Cut Benefits Before Safety Net Fails

The agreement comes as several “multi-employer” pension plans are insolvent. The federal government guarantees those plans’ benefits, but might not be able to handle all of them failing at once.

PRC In the News
12/10/14|Associated Press via Yahoo! News

Deal to allow multiemployer pension benefits cuts

Retirees covered by financially troubled multiemployer pensions could soon see their benefits cut under a congressional spending deal to keep the government running.

PRC In the News

House delay leaves pension reform in question

An amendment to let troubled multiemployer pension plans cut retiree benefits initially moved forward in Congress on Thursday but faced an uncertain future after the House recessed mid-afternoon without taking a vote on a massive spending plan.

PRC In the News

Congress could cut pensions in ailing plans

A proposal in Congress that could lead to cuts in pension benefits for retirees in financially troubled multiemployer plans drew fire Thursday from worker advocates and unions.