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Red flags for those mapping out their retirement years

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You think your Social Security benefits aren’t vulnerable? Then you should pay attention to what’s happened with pensions.

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Retirees Facing Severe Pension Cuts [VIDEO]

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Whit Wyatt of Washington Court House worked as a teamster truck driver for 33 years. Now Whit and his wife Barb have a comfortable retirement living on Whit's teamster pension and social security. But Wyatt is one of hundreds of thousands of union retirees who may soon see severe cuts to their monthly pension checks.

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Union retirees fear dramatic pension cuts under new federal law

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Bill Hendershot and his wife live on his union pension and Social Security. Hendershot, a retired Consolidated Freightways long-distance truck driver, gets around now in a 12-year-old Toyota Corolla.

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Pension plans, once inviolable promises to employees, are getting cut

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The stock market has soared more than 75 percent in the past five years, yet many pension funds, where many middle-class workers should benefit from the market’s rise, continue to struggle, jeopardizing benefits for the workers who were counting on them in retirement.

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Big change to law on union pensions

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A new law passed by Congress in December could affect more than one million union workers and retirees who are covered by union-sponsored multiemployer pension plans. The law, which is now in effect, allows the trustees of severely distressed pension plans to reduce benefits for current and future retirees — if doing so can save the plan from future insolvency.

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Retirements reduced by the stroke of a pen in D.C.

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About 100,000 New Yorkers who depend on a variety of private-sector union pensions could be facing lowered payments in coming years.

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Multiemployer, 4062(e) Changes Enacted, And Now It's Time to See How It Shakes Out

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Congressional negotiations over a budget bill late last year introduced a landmark change to ERISA on the law's 40th anniversary: To preserve their multiemployer defined benefit plans, trustees and participants can now voluntarily decide whether to reduce benefits instead of waiting for plan insolvency.

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Organizing to Protect Our Pensions

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Reckless Wall Street schemes tanked the economy and Teamster pension funds. Now Teamsters and retiree advocates are coming together to hold Wall Street accountable and take on pension cuts.

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How Did It Happen? Disastrous Pension Bill Is Now Law

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Congress approved pension cut legislation in a sneak attack amendment to the budget bill. The fight to protect Teamster pensions is on. Teamsters and retirees are joining the Pension Justice Campaign.

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Congress punishes retirees for company lapses

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When Congress passed the spending bill in December to keep the government running, a hidden provision in the act sent shivers of fear into the retirement industry. The provision allows underfunded multi-employer pension plans to reduce benefits for retirees so the government pension insurance fund won’t have to bail out the plans.

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