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The Republican Congress’s First Salvos: Corporations: 5 - Workers: 1

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The Omnibus spending bill just passed by Congress indicates clearly that the Republican Legislative Offensive is being rolled out faster than otherwise might have been predicted.

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A Historic End to the 113th Congress Caps a Remarkable Year in Politics

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The final days of the 113th Congress -- coming just days before Christmas and the new year -- brought with it the end of a turbulent month -- and year -- of American politics.

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That solid pension benefit? It may be subject to change

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In the fine print of the federal budget compromise, troubled pension plans now have the right to reduce benefits

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Pension law change alarms retiree groups

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Forty years after Congress took steps to guarantee that retirees get the pensions they were promised, another generation of lawmakers has taken a chisel to those legal protections.

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New federal law allows pension cuts

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More than 100,000 New Yorkers could face cuts in their union pensions in coming years, thanks to a provision that was tucked into Congress' omnibus spending bill this month to keep the federal government funded for another year. The measure would, under certain conditions, allow cuts to what are known as multi-employer pensions.

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Merry Christmas, Seniors. Eat, drink and be merry, for tomorrow they may cut your pension.

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House Republicans quietly snuck in a number of egregious add-ons to the spending bill. One of those add-ons allows employers of certain companies whose pension funding is in trouble to simply cut the amount of retirement pension they promised retirees.

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Multiemployer plans can cut benefits to stay solvent

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Trustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.

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New law lets some pension plans cut promised benefits

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For some retirees, Congress has played the Grinch this holiday season. Tucked into the federal spending bill were provisions that will allow certain struggling multi-employer pension plans to reduce benefits already being received by retirees.

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After the new federal pension rules: What retirees need to know

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Buried in the $1.1 trillion "Cromnibus" legislation signed this week by President Barack Obama was a provision that aims to head off a looming implosion of multiemployer pension plans - traditional defined benefit plans jointly funded by groups of employers.

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ERISA Changes Passed as Part of Controversial Spending Bill

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In one fell swoop last week, a once-sacrosanct tenet of the 1974 omnibus pension law, the Employee Retirement Income Security Act (more commonly known by its acronym, ERISA), was overturned. For its sponsors, the measure meant saving troubled multiemployer pensions heading for insolvency.

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