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Multiemployer plan

Treasury Department Gives Thumbs Up to Second Pension Rescue

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A pension fund in Nashville is now the second plan covering unionized workers to receive Treasury Department approval to cut members’ benefits.

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Federal Treasury Department approves potential Teamster pension cuts

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The U.S. Treasury Department has approved a proposal for a 29 percent pension cut for members of a Teamsters unit based in upstate New York.

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Another blow for heartland workers: Slashed pensions

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February was a bad month for Larry Burruel and thousands of other retired Ohio iron workers. His monthly take-home pension was cut by more than half from $3,700 to $1,600.

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Now to save coal miners’ pensions

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The pension crisis threatens almost 120,000 miners and widows, including 9,000 in Kentucky, and will be thornier than health care to fix because it’s part of a wider problem.

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Union pension crisis threatens retirement funds

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John Raffiani's retirement didn't last long. Facing a steep cut in his Teamsters trucking pension, the 70-year-old Greene County man went back to work more than a year ago after a short time away from full-time labor.

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Tell Congress: Protect retiree pensions!

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For 40 years, one of the foundations of pension law was the principle that once a retiree started receiving benefits, those benefits couldn’t be taken away unless a plan ran out of money. A 2014 law changed that. The Multiemployer Pension Reform Act overturned 40 years of precedent and placed retirement in jeopardy for the 10 million workers covered by multiemployer pension plans.

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Retirees to Congress: Protect Our Pensions!

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Senator Bernie Sanders and Rep. Marcy Kaptur Reintroduce Bill to Save Retiree Pensions

WASHINGTON – The Pension Rights Center joins retirees, members of Congress and others in declaring today a Day of Action to call attention to the threats to the retirement security of millions of workers and retirees covered by the financially-troubled multiemployer pension plans.

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Pensioners Fight Back Against Cuts

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The Pension Rights Center's Karen Friedman discusses a new pension law that could negatively impact millions of retirees.

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Flurry of Pension Rescue Filings May Indicate Renewed Confidence

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Four more financially beleaguered multiemployer pension plans are testing the rescue application waters, seeking Treasury Department permission to cut benefits.

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20,000 Union Members, Retirees at Risk of Losing Pension Benefits

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"The guy who worked harder got hit the hardest," Wargo said. "If you could prove that it [the cuts] would keep the plan solvent for 100 some odd years I'd take it, but it's baloney. There are other ways this could have been mended instead of singling out a group of people."

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