Tag: Benefit cutback|Congress|Legislation|Multiemployer plan|PBGC|Pension Rights Center|Traditional (defined benefit) pensions|Underfunding
Ohio congresswoman Marcy Kaptur, Bernie Sanders offer new legislation to repeal private pension cut provisions
Presidential candidate Bernie Sanders and U.S. Rep. Marcy Kaptur, D-Toledo, are introducing legislation Thursday to repeal pension cut provisions in the Multiemployer Pension Reform Act of 2014.
Pension Bill Seen as Model for Further Cuts
Measure Permits Multiemployer Funds to Reduce Benefits, Which Could Open Door to Moves in Other Troubled Programs
Rep. Kline’s proposed cuts catch pensioners by surprise
Dave Erickson of Isanti, Minn., believed his pension benefits were guaranteed when he contributed a fixed portion of his pay into the Teamsters Central States Pension Fund. On Wednesday, Erickson learned that those benefits might be cut under a provision that Minnesota Rep. John Kline aims to tack onto the new federal budget bill.
Congress considering plan to allow pension cuts
More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut if Congress passes a proposal aimed at shoring up some of the nation’s biggest pensions.