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Future retirement security

Resources for Central States Pension Fund Retirees

Publication

This page is intended to serve as a resource hub for retirees who are subject to cuts as a result of the Central States Pension Fund’s application to the U.S. Department of the Treasury to reduce retiree benefits. This page will be updated on an ongoing basis.

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Pension Rights Center Calls Proposed Retiree Benefit Cuts by the Central States Pension Fund a “Pension Demolition Plan”

News Release

WASHINGTON – Last week, the Central States Pension Fund began notifying hundreds of thousands of retirees that it has applied to the U.S. Department of the Treasury to cut their pensions.

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Central States Pension Fund announces proposed pension cuts

Blog entry

In the last few days we at the Pension Rights Center have been inundated with calls from retirees who are receiving letters from their pension plan informing them that their pension is slated to be cut by as much as 70 percent.

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Retirees brace for hardship as multi-employer pension cuts loom

News Item

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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Should you take your pension as a lump sum?

Publication

Updated: August 2015

Some companies have offered to cash out the pensions of certain retirees and former employees and instead give them a one-time lump-sum payment.

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New statistics show a different type of income inequality

Blog entry

Lately, there’s been a lot of talk about income inequality – the increasing gap between our society’s highest-paid workers and the lowest-paid. Generally the term “income inequality” is used to highlight the difference in wages and salary for people while they’re working.

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Pension Rights Center Applauds Treasury Department/IRS for Protecting Retirees by Banning Lump-Sum Buyout Offers

News Release

WASHINGTON – In a welcome move by the Department of the Treasury and the IRS, the agencies released last week a notice to amend Treasury regulations to stop companies from offering lump-sum buyouts to retirees who are already receiving a monthly pension.

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A "Gettysburg Address" on pension promises

Blog entry

Last week, I spoke to an auditorium full of economics and public policy students at Gettysburg College, as part of the Economics Department’s Finance Symposium.

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Signed, Sealed and Delivered! 1,500+ comments delivered to the Internal Revenue Service

Blog entry

Yesterday afternoon, Karen Friedman, Nancy Hwa and I hand-delivered more than 1,500 comments to the Internal Revenue Service.

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Shortfalls sabotage promise of union retirees' pensions

News Item

Once considered sacrosanct, many retiree pensions may no longer be secure. A change in federal law passed last year with bipartisan support would allow struggling union pension funds to cut benefits for retirees younger than 75 by as much as 60 percent.

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