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Financial planning issues wrapped into government spending bill?

12/08/2014 | Investment News

Members of Congress are considering adding provisions to the government spending bill that would impact at least two crucial issues for financial advisers: the DOL's action on fiduciary duty and the right of pensions to cut benefits.


Bill could slash pensions across America

12/05/2014 | WOIO/19 Action News (Cleveland, OH)

A new bill that could be passed before Congress leaves for winter break has a lot of retirees upset. Donna and Daniel McAuliffe are heading into a nightmare next week, as Congress could pass a bill that opponents say will slash some retiree's pensions by 65 percent. This scares the Brunswick couple.


The lame-duck Congress plots to undermine retiree pensions

12/05/2014 | Los Angeles Times

Passing legislation on a tight deadline--especially a bogus deadline--is invariably a formula for serious mischief. That's what's happening with a proposal to deal with a supposed crisis in worker pensions by allowing trustees to slash the pensions of already-retired workers to shreds.


Congress could soon allow pension plans to cut benefits for current retirees

12/04/2014 | Washington Post

Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans. Several unions and pension advocates opposing the move, which would be unprecedented...


Providence lawsuit raises questions about Catholic health providers' church pension plans

12/04/2014 | Puget Sound Business Journal

Employees of Providence Health & Services, the state's largest health care provider, are suing the Catholic health system in federal court alleging it is using a religious tax exemption to skirt federal pension law.


Congress could cut pensions in ailing plans

12/04/2014 | BenefitsPro

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.


Lame-Duck Congress Nears Last-Minute Vote On Sweeping Pension Reform

12/03/2014 | In These Times

Congress is nearing a vote on arguably the biggest change to private pension law in decades. The proposed reforms would grant sweeping new authority to the trustees of some “deeply troubled” multi-employer pension plans to slash benefits promised to current retirees—something that’s illegal under existing law.


Amicus Briefs Filed in Church Plan Appeal, Organizations Debate Use of Exemption

11/25/2014 | Bloomberg BNA's Pension & Benefits Reporter

The first challenge to the exemption of a religiously affiliated health-care organization’s pension plan from federal regulation to reach the federal appellate courts has drawn the attention of a nonprofit consumer organization, two religious organizations and a nonprofit law firm dedicated to free expression of religion, all of which have filed amicus briefs with the U.S. More...

Multiemployer Program Posts Record Deficit, Single-Employer Shortfall Shrinks, PBGC Says

11/25/2014 | Bloomberg BNA's Pension & Benefits Reporter

The deficit of the Pension Benefit Guaranty Corporation’s multiemployer plan program rocketed to an all-time high in fiscal year 2014 of $42.4 billion—more than five times its previous high in 2013— the agency said in its annual report.


1 Million American Pension Plans Could Be Insolvent In 10 Years

11/19/2014 | NPR

The federal agency that regulates the nation's pension system issued a stark warning this week about some retirement plans.