PRC letter to Congress opposing "stealth" provisions that would cut retiree benefits in multiemployer plans (December 3, 2014)
The Pension Rights Center sent a letter to every member of Congress, urging them to oppose measures that would allow certain multiemployer plans to cut the earned benefits of retirees. Such a provision might be slipped into the omnibus spending bill without public debate during the lame-duck session of the 113th Congress. Not only is including the provision in such an underhanded way fundamentally undemocratic, but, if it passes, the cuts would be devastating to the retirement security of hundreds of thousands of older Americans.
NEW: Read our summary of the retiree pension cutback provisions in the spending bill.
- Our fact sheet on multiemployer plan funding (May 29, 2014)
- Our multiemployer pension benefit cutback calculator (under the pension cutback provisions, this applies only to retirees under the age of 75)
- PRC's statement to a House subcommittee on strengthening the multiemployer plan system (October 29, 2013)
- U.S. Senator Tom Harkin's statement opposing the pension cutback provisions (December 10, 2014)
- U.S. Senator Ron Wyden's statement opposing the pension cutback provisions (December 11, 2014)
- Tell Congress: Don’t make a last-minute deal to cut retirees’ pensions (PRC Action Alert)
- A letter from the International Association of Machinists and Aerospace Workers, opposing retiree benefit cuts (December 3, 2014)
In the News:
- 4 Ways Congress Just Screwed Up Pensions, Huffington Post, December 15, 2014
- Editorial: Middle-class retirees deserve better from Congress, St. Louis Post-Dispatch, December 15, 2014
- Congress approves pension measure that could cut benefits for many retirees, St. Louis-Post Dispatch, December 14, 2014
- Pension Bill Seen as Model for Further Cuts, Wall Street Journal, December 14, 2014
- Congress’ No-Bailout Pension Plan Is No Solution for Retirees, Reuters, December 11, 2014
- Pension Deal In Spending Bill Will Cut Benefits Before Safety Net Fails, NPR, December 11, 2014
- Rep. Kline's proposed cuts catch pensioners by surprise, Star Tribune, December 11, 2014
- Congress considering plan to allow pension cuts, CNN Money, December 10, 2014
- Deal to allow multiemployer pension benefits cuts, Associated Press via Yahoo! News, December 10, 2014
- Is Congress About to Cut Your Pension?, Bloomberg, December 10, 2014
- That awful congressional plan to allow pension cuts heads for enactment, Los Angeles Times, December 9, 2014
- Labor Unions Accuse Congress of Sneak Attack on Pensions in Lame Duck, National Journal, December 9, 2014
- Financial planning issues wrapped into government spending bill?, Investment News, December 8, 2014
- The lame-duck Congress plots to undermine retiree pensions, Los Angeles Times, December 5, 2014
- Bill could slash pensions across America, WOIO/19 Action News, December 5, 2014
- Congress could soon allow pension plans to cut benefits for current retirees, Washington Post, December 4, 2014
- Lame-Duck Congress Nears Last-Minute Vote On Sweeping Pension Reform, In These Times, December 3, 2014
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