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Multiemployer pension plans need saving

08/21/2019 | Tribune Content Agency

I have frequently written of the potential difficulties facing those preparing for retirement who do not have the advantage of a defined-benefit pension. Today I’d like to address a different crisis: the potential insolvency of pension funds that cover millions of people who have lived, worked and planned their retirement on the assumption that their pension would be there.

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Op-Ed: Social Security isn’t in crisis. It just needs a tune-up

08/14/2019 | Los Angeles Times

Eighty-four years ago Wednesday, President Franklin D. Roosevelt signed Social Security into law. He advised future generations to continue building on the program’s foundation, which he explained “represents a cornerstone in a structure which is being built but is by no means complete.”

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Retired Teamsters wait for Congress to act on wobbly pension fund

08/08/2019 | StarTribune

Roger Spencer uses part of his pension check from the failing Central States Pension Fund to buy a lifesaving cancer drug that costs $500 a month.

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Companies are racing to dump their pension plans

08/07/2019 | AXIOS

The younger you are, the less retirement security you’re likely to have, as employers accelerate efforts to shed costly pensions and replace them with alternatives that make workers shoulder more of the risk and responsibility.

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U.S. House passes Butch Lewis Act

08/01/2019 | nwLaborPress.org

The U.S. House of Representatives passed HR 397 July 24 on a bipartisan vote of 264-169. All 235 House Democrats voted for the bill, as did 29 Republicans. More...

Senate to Deal with Union Pension Crisis After House Passes Butch Lewis Act

08/01/2019 | Chief Investment Officer

Out to save the retirement plans of over 1.3 million pensioners, the US House of Representatives passed legislation that seeks to address a nationwide multi-employer pension funding crisis by providing low-interest loans to help fund the institutions.

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Central States pension fund continues to bleed as Congress debates aid

07/30/2019 | The Columbus Dispatch

The finances of the Central States Pension Fund continue to deteriorate as Congress debates whether it should shore up the fund and other struggling multi-employer pension funds.

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Saving America's Pension Plans Is A Rare Chance for Bipartisan Accomplishment

07/24/2019 | Newsweek

Recent studies have made news highlighting how few Americans have adequate retirement savings or pensions. But there's an additional problem bedeviling retirement: even those who have good pensions could lose them. Scores of financially troubled pension plans are at risk of collapse, which could lead to substantial benefit cuts for up to 1.5 million Americans. More...

U.S. House Passes Pension Bailout as Democrats Eye Union-Heavy States for 2020

07/24/2019 | Bloomberg

The U.S. House on Wednesday night passed legislation to bolster failing pension funds, an issue that Democrats are hoping will help win over voters in the Midwest’s union-heavy states for the 2020 presidential election.

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Cuts in Multiemployer Pension Plans Hurt Older Americans

07/12/2019 | AARP

For 30 years, Mary Fry's husband, Virgil, worked in construction. The pension he earned — $3,568 per month — was guaranteed to continue for Mary if he died first. More...

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