Plans that have filed "critical and declining" status notices with the U.S. Department of Labor
The Multiemployer Pension Reform Act of 2014 gives the trustees of underfunded multiemployer plans that meet the definition of being in “critical and declining” status almost unprecedented authority to cut retiree pension benefits.
Each plan listed below has notified the U.S. Department of Labor that it is in “critical and declining” status and eligible to make certain retiree benefit reductions. Click the name of each plan listed below to see the most recent notice for each plan.
- Read our summary of the retiree cutback provisions in the Multiemployer Pension Reform Act of 2014.
- U.S. Treasury Department page on multiemployer pension plans seeking MPRA benefit cuts.
- Pension Rights Center fact sheet, the Facts about Multiemployer Pension Plan Funding.
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If you have a problem with your retirement plan, free help may be available from the U.S. Administration on Aging's network of Pension Counseling and Information Projects. Find help now.
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Did You Know?
A 401(k) plan is a retirement savings plan in which the benefit is based on contributions to an individual account and the investment return on those contributions. Typically, employees make contributions to the plan and, in many cases, employers match the employees' contributions. These plans are called defined contribution plans. In most 401(k) and other retirement savings plans, the employee is responsible for choosing among the investments offered by the plan. Other types of retirement savings plans are 403(b) and 457 plans.