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Benefit cutback

Union-Employer Proposal Would Hit Some Retirees

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A coalition of unions and employers is proposing changes to the federal law that governs the pension plans of about 10 million people, including reducing benefits paid to retirees, the first time in four decades that such cuts would be allowed.

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A New Chapter of Pension Plan Woes

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Pensions used to be a reliable stream of retirement income, but these twists and turns could put a pension benefit in jeopardy.

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American Airlines pension default Q&A

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American Airlines is heading toward the largest default of a defined-benefit pension plan in U.S. history.

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Retiree benefit cuts a given; which ones?

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Retiree benefits aren't as secure as they used to be, as auto and airline workers and others have learned in recent years.

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Analysis: Pension woes are complicating retirement

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Deteriorating conditions in the pension system are jeopardizing the lump sum payouts workers count on, and pushing some workers to retire ahead of schedule.

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Retired Delta pilots filing appeal over pensions

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A group of more than 6,000 retired Delta Air Lines Inc. pilots reported Wednesday an appeal set to be filed with the Pension Benefit Guaranty Corp. to get back $600 million in pension benefits they say were lost during Delta’s bankruptcy in 2005.

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Shining a light on a hidden pension world

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In a new book, Retirement Heist, prize-winning journalist Ellen Schultz has provided the ultimate backstage pass to the world of pensions, with plenty of drama and shocking details.

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The "happiest place on earth” doesn’t have retirement security

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It appears that Mickey Mouse and Donald Duck may find themselves in deep trouble when they retire.

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Restrictions on Shutdown Benefits

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Shutdown benefits are special benefits that some plans provide for workers at a plant or facility that closes. These benefits are especially important to workers who have not yet reached retirement age, but are not in a position to change careers or relocate for work. Shutdown benefits bridge the gap between the time when a plant closes and retirement age.

 

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Restrictions on Benefit Improvements

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The rules prohibit plans from adopting changes that would increase the cost of the plan if it is less than 80 percent funded or if such changes would cause the plan to become less than 80 percent funded.

 

The following changes are prohibited:

 

Increases in benefits

 

 

 

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