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Teamsters Local Pension Seeks Benefit Cuts, Third Multiemployer Plan to Request Approval

02/02/2016 | Bloomberg BNA's Pension & Benefits Reporter

A New Jersey-based Teamsters local pension fund has become the third multiemployer pension plan known to apply for Treasury Department approval of benefit suspensions.

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State-run retirement plans could offer a fix for future

01/30/2016 | Minnesota Star Tribune

At least half of the states have been working on some sort of plan, as tracked by the Pension Rights Center, an advocacy organization for workers based in Washington. Generally, workers’ contributions get deducted from their paychecks, like in a 401(k) plan, only the money goes into a government-sponsored plan.

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De-Risking and Rescue Plan Petitions Expected to Rise

01/25/2016 | Bloomberg BNA's Pension & Benefits Reporter

The de-risking of single-employer defined benefit pension plans and the suspension of benefits by multiemployer plans are poised to be two of the primary issues facing pension plan sponsors and participants in 2016.

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Pension cuts 'crippling' for retired Creve Coeur trucker and his family

01/23/2016 | Peoria Journal Star

When Joe Frakes stepped down from the cab of his truck for the last time, he thought he was set for life. After three decades on the road, he’d accrued a solid Teamster pension. But 13 years after retiring, the 75-year-old now fears a nosedive in his monthly check from $2,500 to less than $1,500.

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Carefully Considering Pension Payment Options

01/22/2016 | New York Times

Companies are increasingly offering retirees and former employees the option of taking their pensions in a lump-sum payment, rather than as a traditional monthly payment over a lifetime.

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Take a lump sum? It applies to Powerball and pensions.

01/20/2016 | Detroit Free Press

Take the lump sum? Or settle on the slow-but-steady monthly payout? No, we're not talking about winning a Powerball jackpot or some other winning lottery ticket. We're talking about what to do if your company or former employer actually has a traditional pension, not just a 401(k) plan, and offers you a lump sum if you give up the chance to receive a monthly pension check.

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Lump sum or annuity? It’s not just a question for Powerball winners

01/17/2016 | The Post and Courier

Should a lottery winner claim the cash value of a jackpot and receive a reduced amount of money right away in a single payment, or choose 30 years of annual payments that add up to the jackpot amount? Well, few people will get rich playing the lottery, but many people do face a similar question every year, with a pension plan.

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How safe is your pension?

01/17/2016 | Belleville News-Democrat

George Bauer of Troy and Bill Randolph of Collinsville both worked at the old Pevely Dairy processing plant in South St. Louis. More...

Is the Pension Benefit Guaranty Corp. worth propping up?

01/14/2016 | Institutional Investor

U.S. multiemployer pension plans disagree about the value of participating in the cash-strapped federal agency's insurace program.

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Iron Workers Fund Looks to Cut Benefits,Is Second Plan to Seek Treasury’s Approval

01/12/2016 | Bloomberg BNA's Pension & Benefits Reporter

An Iron Workers local pension fund has become the second multiemployer plan to apply for benefit suspension approval from the Treasury Department.

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