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First Mutltiemployer Plan to Make Benefit Cuts Under MPRA

Date Published: 
Friday, January 27, 2017

Cleveland Iron Workers Local 17 Pension Fund announced that its retirees will be the first in the country to face pension benefit cuts as a result of the Multiemployer Pension Reform Act (MPRA), which allows ongoing plans that are severely underfunded to take action to cut retiree pension benefits.