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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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Save Our Retirement Coalition response to letter sent to Secretary Perez on the fiduciary rule

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The Pension Rights Center, as part of the Save Our Retirement Coalition, issued a statement in reaction to a letter sent to Labor Secretary Tom Perez by several members of Congress regarding the Department's proposed fiduciary rule.

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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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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

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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...

Can you afford to retire?

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Many Americans are facing the reality that they might not be able to retire in their 60s as planned. In 2014, President Obama and Congress passed the 2015 Omnibus spending bill, which includes provisions that allow trustees of certain multiemployment plans to cut retirees pensions - part of the Multiemployer Pension Reform Act of 2014.

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Multiemployer pension plans in critical and declining status, by state

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The Multiemployer Pension Reform Act of 2014 allows the trustees of certain multiemployer pension plans to reduce pensions, including the benefits of retirees.

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Legislation offers workable solution to multiemployer plan underfunding

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This is a Letter to the Editor from Karen Ferguson, director of the Pension Rights Center, responding to a negative editorial that Pensions & Investments published on the Keep Our Pension Promises Act of 2015.

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