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New York’s Teamsters May Have Their Pensions Cut. What Went Wrong?

12/30/2016 | The New York Times

As troubled pension funds go, the New York State Teamsters Conference Pension and Retirement Fund, with some $1.3 billion in assets, is by no means the largest. Neither is it in the direst financial shape, even though just 44.8 percent of its obligations are funded.

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President-elect Trump, please help protect Cleveland ironworkers' pension rights

12/30/2016 | Cleveland Plain Dealer

If President-elect Donald Trump wants to do right by working-class Americans, he should work with Congress to repeal a cruel law that could slash the pensions of hundreds of retired ironworkers in Cleveland. Over time, it could reduce the benefits of more than one million other retirees and workers nationwide.

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Cleveland union becomes first for MPRA acceptance

12/26/2016 | Pensions & Investments

The first multiemployer pension plan to win approval to reduce benefits offers lessons for other struggling plans facing insolvency.

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How safe is your pension?

12/22/2016 | Chicago Tribune

But for millions of union workers, part of the attraction of paying union dues over a lifetime of work was the promise that a pension. Many of those pensions are so-called multiemployer plans, which cover workers for unrelated employers in the same industry. More...

Pension Plan Owes Rescue Petition Success to Past Rejection

12/22/2016 | Pension & Benefits Reporter

A multiemployer pension plan that gained Treasury Department approval for a petition to reduce participants’ benefits did so by scanning a road map gleaned from a department rejection letter. This road map may now pave the way for other plans seeking such approval.

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Pre-Retirement Checkup: What You Should Do in the 5 Years Before You Retire

12/22/2016 | US News & World Report

For people who turned 60 this year, retirement is beginning to come into sight. The question is, are they actually ready for it?

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Should I take my pension as a lump sum or lifetime payments?

12/22/2016 | CNNMoney.com

The lump sum-or-annuity decision can be a complicated one, and the decision that's right for one person may not be best for another. Which makes it all the more important that you really think through your choices and settle on an option that makes the most sense for your particular circumstances.

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The Legacy of DOL’s Champion for Employee Benefits

12/21/2016 | Pension & Benefits Reporter

Phyllis Borzi has one month to go in office as assistant secretary for the Department of Labor’s Employee Benefits Security Administration, but stacks of files are still heaped on her desk and on the floor.

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Treasury: Troubled Multiemployer Pension May Reduce Payouts

12/21/2016 | SHRM Online

The U.S. Treasury Department, for the first time, approved an application from a troubled multiemployer pension plan to reduce vested benefits paid to retirees. Other deeply underfunded union plans could follow the same path.

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Obama Wants Millions of Americans in His Retirement Plan. So Far He’s Got 20,000

12/16/2016 | Bloomberg

The starter retirement account is designed for low- and moderate-income Americans without access to workplace retirement savings programs. It has no fees that could gobble up the small amounts invested and holds funds in a new Treasury security created for the program.

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