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Benefit cutback

Congress Says It Has to Cut Pensions to Save Them

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Joshua Gotbaum doesn’t like telling retirees that their pensions are about to be cut. After all, until August he was the director of the Pension Benefit Guaranty Corporation (PBGC), the federal insurance fund that’s supposed to safeguard pensions.

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Pension Deal In Spending Bill Will Cut Benefits Before Safety Net Fails

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The agreement comes as several "multi-employer" pension plans are insolvent. The federal government guarantees those plans' benefits, but might not be able to handle all of them failing at once.

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Rep. Kline's proposed cuts catch pensioners by surprise

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Dave Erickson of Isanti, Minn., believed his pension benefits were guaranteed when he contributed a fixed portion of his pay into the Teamsters Central States Pension Fund. On Wednesday, Erickson learned that those benefits might be cut under a provision that Minnesota Rep. John Kline aims to tack onto the new federal budget bill.

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Retirees outraged over provision allowing pension funds to cut benefits

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Karen Friedman of the Pension Rights Center says retirees could see almost 60 percent cuts in earned benefits

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Congress considering plan to allow pension cuts

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More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut if Congress passes a proposal aimed at shoring up some of the nation's biggest pensions.

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Deal to allow multiemployer pension benefits cuts

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Retirees covered by financially troubled multiemployer pensions could soon see their benefits cut under a congressional spending deal to keep the government running.

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Is Congress About to Cut Your Pension?

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Congress is set to vote on a $1.1 trillion spending bill this week, one with a troubling provision for U.S. retirees. If the bill passes, the promised retirement benefits of millions of workers could be slashed. The knee-jerk reaction: Fear that it could set a dangerous precedent and lead to more widespread cuts in retiree pension benefits. Is that realistic?

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Congress to vote on pension cut proposal

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Around 1.5 million pensioners could lose benefits, and the law would reverse a 1974 law that protects earned pensions

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Pensions of retirees, widows face cuts in action by House of Representatives

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While most seniors were focused on Thanksgiving with their families and then getting ready for Christmas, some members of the U.S. House of Representative have hit them with a nightmare…a reduction in pension benefits for those already retired or their widows.

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Congress’ Holiday Present to Retirees: Slashing Their Pensions

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Policymakers say “Ho, Ho, Ho”…Retirees say, “NO, NO, NO” 

Washington – Today, the Pension Rights Center released the following statement from Executive Vice President Karen Friedman, urging the House Rules Committee not to include legislation cutting retiree pensions in the omnibus spending bill. 

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