Tag: Benefit cutback|Congress|Legislation|Multiemployer plan|PBGC|Pension Rights Center|Red zone/ critical status|Regulation|Traditional (defined benefit) pensions|Treasury Department|Underfunding
PBGC readies rules to cut retiree pension benefits
The Pension Benefit Guaranty Corporation (PBGC) is getting ready to implement a new law that allows distressed union multi-employer pension plans to reduce retiree benefits — if that can halt them from sliding into insolvency.
Critics question proposed rules for cutting pensions
Six months after Congress approved reducing benefits promised to workers covered by certain troubled pension plans, the IRS and the Pension Benefit Guaranty Corp. have published proposed rules for how pension promises can be broken.
