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Benefit cutback

Retirees soon to learn how much pensions may be cut

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Retired truck drivers and others who draw a pension from an underfunded pension plan expect to find out in the next couple of days how much their monthly stipend may be cut.

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An amazing "Day of Action"

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To help retirees around the country fight back against proposed reductions in their hard-earned pensions, the Pension Rights Center organized a “day of action” on September 10. The day was an amazing success with more than 200 retirees travelling to DC from 11 states to ask government officials and members of Congress to “stop the clock” on pension cuts.

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PBGC says union pensions facing less risk

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Multiemployer pension plans, those operated by unions on behalf of workers who are or were employed by more than 1 company in a particular industry, are facing less risk than they were last year. But the outlook is still not very good, according to a report issued Monday by the Pension Benefit Guaranty Corporation, or PBGC, the federal agency that guarantees private pensions.

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Teamsters Protest as Treasury Debates Allowing Pension Cuts for 1.5 Million Retirees

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About 300 angry Teamsters descended on Washington, D.C., September 10, demanding federal action to protect the pensions of union members threatened with benefit cuts. The retired Teamsters are among a group of as many as 1.5 million retirees from a long list of different labor unions nationwide that could see their pensions slashed under a new law quietly approved late last year.

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Proposed pension cuts have Teamster retirees worried

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Retired truck drivers and other retirees who draw a pension from an underfunded pension plan expect to find out early this fall how much their pension will be cut.

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Impassioned Voices Ring Loudly at Benefits Suspension Hearing Savings

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When crafting final regulations on suspending benefits under multiemployer pension plans, the IRS and Treasury Department should use the "maximum limits" of their authority to write rules that follow the law but are as fair as possible to workers and retirees, speakers said during an IRS hearing.

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Retirees brace for hardship as multi-employer pension cuts loom

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Of all the negative financial surprises that can hit in retirement, learning a "guaranteed" pension could be severely cut is among the worst.

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With union pensions in jeopardy, Ohio members plead with Congress and the feds

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Alex Adams lifted his shirt so the panelists and audience could see the bandages and feeding tube. "This is how I eat," he said in a halting voice. 

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Countdown to Cuts: Retirees Call on Policymakers to Stop the Clock on Cuts to Their Pensions

News Release

WASHINGTON – Hundreds of retired truck drivers and their spouses came to Washington, D.C., today to tell policymakers how proposed cuts to their pensions  More...

Retirees, experts testify at Multiemployer Pension Reform Act hearing

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Federal regulators charged with implementing the Multiemployer Pension Reform Act of 2014 heard from concerned retirees and pension experts Thursday during a hearing convened by the IRS.

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