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PBGC readies rules to cut retiree pension benefits

06/30/2015 | Northwest Labor Press

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.


PBGC Partition Rules Give Clear Guidance, Will Help Preserve Plans, Commenters Say

06/30/2015 | Bloomberg BNA's Pension & Benefits Reporter

Regulations issued by the Department of Treasury and the Pension Benefit Guaranty Corporation will help troubled multiemployer plans from sliding into insolvency, but not without forcing participants and beneficiaries to make hard choices, pension professionals told Bloomberg BNA in recent interviews.


Critics question proposed rules for cutting pensions

06/21/2015 | Pittsburgh Post-Gazette

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.


ERISA’s Demise: The Domino Effect and Huelga: Story from a Casino Utility Closet

06/18/2015 | Heartland Labor Forum

PRC Executive Vice President and Policy Director Karen Friedman appeared on this radio program to discuss Sen. Bernie Sanders' bill to repeal benefit cutbacks for retirees in certain underfunded multiemployer pension plans. Karen's segment begins at 19:40 in the podcast and lasts for approximately 30 minutes. [AUDIO]


Groups start working to pass federal law intended to stave off private pension cuts

06/18/2015 | Akron Beacon Journal

Mike Walden used a baseball metaphor in describing the introduction Thursday of federal legislation that would, if passed, eliminate pension cut provisions that are now law and could impact more than a million people in upcoming years.


Teamsters, machinists, aerospace unions supports bill to repeal multiemployer reforms

06/18/2015 | Pensions & Investments

International Brotherhood of Teamsters, Washington, endorsed legislation introduced Thursday that would repeal the Multiemployer Pension Reform Act of 2014.


Ohio congresswoman Marcy Kaptur, Bernie Sanders offer new legislation to repeal private pension cut provisions

06/17/2015 | Akron Beacon Journal

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.


IRS's W. Thomas Reeder Nominated To Lead PBGC; Pick Widely Lauded

06/02/2015 | Bloomberg BNA's Pension & Benefits Reporter

President Barack Obama nominated W. Thomas Reeder Jr. as director of the Pension Benefit Guaranty Corporation, and initial reaction the day after was positive from various realms of the employee benefits community.


IRS Moves to Ease Pension Pain

06/01/2015 | AARP Bulletin

AARP Bulletin story exposed drastic payment reductions


States seek workplace retirement plans

05/22/2015 | Consumers Digest

According to the latest data, about 55 million U.S. private-sector workers don’t have access to a workplace retirement-savings plan, and states want to change that.