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PBGC may need a financial safety net of its own

03/29/2015 | Crain's Benefits Outlook

Forty years after it was created, the future of the federal agency that guarantees employees' and retirees' pension benefits is in doubt.

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Multiemployer pensions rescue buys the PBGC some time

03/29/2015 | Crain's Benefits Outlook

While experts may disagree on the strength of the Pension Benefit Guaranty Corp.’s insurance program for single-employer pension plans, there is a broad consensus that lawmakers had to act last year to prevent the collapse of big, underfunded multiemployer pension plans, and with that the PBGC’s multiemployer insurance program.

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Shortfalls sabotage promise of union retirees' pensions

03/28/2015 | Pittsburgh Tribune Review

Once considered sacrosanct, many retiree pensions may no longer be secure. A change in federal law passed last year with bipartisan support would allow struggling union pension funds to cut benefits for retirees younger than 75 by as much as 60 percent.

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Could these policy fixes help you save for retirement?

03/27/2015 | CNBC

Despite the challenges many Americans face in setting aside enough money to finance their golden years, experts say the retirement system is not a lost cause. But a few improvements—many already in the works—could make a big difference for savers.

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Two States Consider De-Risking Legislation; Insurance Lawmaker Group Adopts Guidelines

03/24/2015 | Bloomberg BNA's Pension & Benefits Reporter

As more companies offload their defined benefit pension obligations to insurance companies in multibillion-dollar transactions, legislators in some states are starting to take notice and to consider laws that are aimed at protecting retirees.

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6th Cir. Church Plan Case Against Ascension Remanded for Settlement Consideration

03/24/2015 | Bloomberg BNA's Pension & Benefits Reporter

The first church plan case to reach the federal appellate courts is being returned to the district court to consider a proposed settlement between the parties, according to an order issued by the U.S. Court of Appeals for the Sixth Circuit (Overall v. Ascension Health, 6th Cir., No. 14-1735, 3/17/15).

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8 Questions To Ask Before Taking A Pension Lump Sum Offer

03/23/2015 | Forbes

When it comes to analyzing a lump sum pension offer, employees need more help. That’s the conclusion of a new Government Accountability Office report, Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits.

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Significant pension cuts loom for retirees

03/22/2015 | Columbus Dispatch

Since Whitley Wyatt retired in 2000 after 33 years as a trucker, he’s collected a pension of $3,300 a month. Now, the 71-year-old says as much as $2,000 of his monthly check is at risk because of legislation passed by Congress last year that is meant to help underfunded multiemployer pension plans bolster their finances by giving them a way to cut benefits for some retirees.

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Retirement Income Gap Projected at $7.7T

03/12/2015 | PlanSponsor

The Pension Rights Center updated its aggregate U.S. retirement income deficit figure to $7.7 trillion—up from $6.6 trillion just five years earlier—in conjunction with today’s retirement preparedness hearing by the U.S. Senate Special Committee on Aging.

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Obama puts weight behind push for fiduciary standard

03/09/2015 | Pensions & Investments

With President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.

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