© 2024 Pension Rights Center. This work is licensed under a Creative Commons Attribution-Non Commercial 2.5 Generic License.
Historically, it was illegal for pension plans to cut core benefits to people who are already retired; if the plan had money in the bank, it had to pay promised benefits. But many so-called “multi-employer” plans, which serve workers from multiple companies in a particular industry, have been falling into financial distress for years.
