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Treasury Curtails Lump Sum Pension Payouts

07/14/2015 | Forbes

In a sudden move, the Treasury Department said it will stop allowing employers to offer certain workers the option to take out their pensions in a lump sum. Notice 2015-49, Use of Lump Sum Payments to Replace Lifetime Income Being Received By Retirees Under Defined Benefit Pension Plans, applies as of July 9, 2015.

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IRS, Treasury Halt Lump-Sum Buyouts for Retirees Getting a Pension

07/13/2015 | ThinkAdvisor

The Treasury Department and Internal Revenue Service amended Treasury regulations last week to stop companies from offering lump-sum buyouts to retirees who already receive a monthly pension.

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Pension advocate backs IRS rule banning annuity conversions to lump sums

07/13/2015 | Business Insurance

A new IRS and Treasury Department ban on employers offering pension plan participants currently receiving monthly annuity benefits the option to convert their benefit to a cash lump sum was needed to protect retirees, a consumer advocacy group says.

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Legislation offers workable solution to multiemployer plan underfunding

07/13/2015 | Pensions & Investments

This is a Letter to the Editor from Karen Ferguson, director of the Pension Rights Center, responding to a negative editorial that Pensions & Investments published on the Keep Our Pension Promises Act of 2015.

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Conn. Passes Protection for Transferred Pension Assets

07/10/2015 | PlanSponsor

Connecticut Governor Dannel Malloy signed Public Act 15-167 into law, bringing additional protections to retirees’ assets from creditor claims.

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Teamster Retirees’ Campaign Against Pension Cuts Draws Support from Bernie Sanders

07/06/2015 | In These Times

Less than six months after getting started, a grassroots campaign among Teamsters union retirees to protect their pensions appears to be picking up steam, attracting the support of presidential candidate Bernie Sanders and threatening to influence the outcome of the union’s own leadership elections next year.

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PBGC readies rules to cut retiree pension benefits

06/30/2015 | Northwest Labor Press

The Pension Benefit Guaranty Corporation (PBGC) is getting ready to implement a new law that allows distressed union multi-employer pension plans to reduce retiree benefits — if that can halt them from sliding into insolvency.

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PBGC Partition Rules Give Clear Guidance, Will Help Preserve Plans, Commenters Say

06/30/2015 | Bloomberg BNA's Pension & Benefits Reporter

Regulations issued by the Department of Treasury and the Pension Benefit Guaranty Corporation will help troubled multiemployer plans from sliding into insolvency, but not without forcing participants and beneficiaries to make hard choices, pension professionals told Bloomberg BNA in recent interviews.

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Critics question proposed rules for cutting pensions

06/21/2015 | Pittsburgh Post-Gazette

Six months after Congress approved reducing benefits promised to workers covered by certain troubled pension plans, the IRS and the Pension Benefit Guaranty Corp. have published proposed rules for how pension promises can be broken.

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ERISA’s Demise: The Domino Effect and Huelga: Story from a Casino Utility Closet

06/18/2015 | Heartland Labor Forum

PRC Executive Vice President and Policy Director Karen Friedman appeared on this radio program to discuss Sen. Bernie Sanders' bill to repeal benefit cutbacks for retirees in certain underfunded multiemployer pension plans. Karen's segment begins at 19:40 in the podcast and lasts for approximately 30 minutes. [AUDIO]

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