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Labor Unions Accuse Congress of Sneak Attack on Pensions in Lame Duck

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As lawmakers pressed Monday to finalize the legislative language of a must-pass omnibus spending bill, labor unions and retiree groups were mobilizing to defeat what they are characterizing as a lame-duck sneak attack on the pensions of some already-retired workers.

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Financial planning issues wrapped into government spending bill?

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Members of Congress are considering adding provisions to the government spending bill that would impact at least two crucial issues for financial advisers: the DOL's action on fiduciary duty and the right of pensions to cut benefits.

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Bill could slash pensions across America

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A new bill that could be passed before Congress leaves for winter break has a lot of retirees upset. Donna and Daniel McAuliffe are heading into a nightmare next week, as Congress could pass a bill that opponents say will slash some retiree's pensions by 65 percent. This scares the Brunswick couple.

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The lame-duck Congress plots to undermine retiree pensions

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Passing legislation on a tight deadline--especially a bogus deadline--is invariably a formula for serious mischief. That's what's happening with a proposal to deal with a supposed crisis in worker pensions by allowing trustees to slash the pensions of already-retired workers to shreds.

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Congress could soon allow pension plans to cut benefits for current retirees

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Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans. Several unions and pension advocates opposing the move, which would be unprecedented...

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Congress could cut pensions in ailing plans

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A proposal in Congress that could lead to cuts in pension benefits for retirees in financially troubled multiemployer plans drew fire Thursday from worker advocates and unions.

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Lame-Duck Congress Nears Last-Minute Vote On Sweeping Pension Reform

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Congress is nearing a vote on arguably the biggest change to private pension law in decades. The proposed reforms would grant sweeping new authority to the trustees of some “deeply troubled” multi-employer pension plans to slash benefits promised to current retirees—something that’s illegal under existing law.

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Amicus Briefs Filed in Church Plan Appeal, Organizations Debate Use of Exemption

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The first challenge to the exemption of a religiously affiliated health-care organization’s pension plan from federal regulation to reach the federal appellate courts has drawn the attention of a nonprofit consumer organization, two religious organizations and a nonprofit law firm dedicated to free expression of religion, all of which have filed amicus briefs with the U.S.

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The Most Important Symbol for Investors Is 'DOL'

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Many investors are glued the financial news, tracking the latest reports about interest rates, earnings reports and stock movements. They believe this kind of intense focus will help them maximize returns. They couldn't be more wrong.

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Pension crisis looms

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First we had the fiscal cliff, then the highway cliff. Now get ready for the pension cliff.

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