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Multiemployer plan

PBGC girds for pending union plan catastrophe

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Only one struggling multiemployer pension fund has landed on the doorstep of the Pension Benefit Guaranty Corp. so far after failing to win Treasury Department approval to reduce benefits, but the agency's dire financial condition has officials predicting painful cuts for more than 1 million multiemployer plan participants projected to need its help.

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Threatened pension cuts will test Trump ties to U.S. Rust Belt voters

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Karen Friedman has been traveling the country speaking at meetings of retired union members - and they are angry. What riles them is the prospect of deep cuts in promised pension benefits, and they are hoping for relief from President Donald Trump.

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About one million American workers have pension plans on verge of insolvency

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Nearly one million working and retired Americans are currently covered by pension plans that are in imminent danger of insolvency, according to an organization trying to help people keep their retirement earnings.

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How To Save For Retirement? Tips For Saving Early To Avoid Stress About What To Do When Reaching Retiring Age

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Fewer than half of Americans know or have figured out how much they need for retirement – a scary thought when taken into consideration that the typical American spends about 20 years in retirement.

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Joellen Leavelle appears on the Ron Ponder Show

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Joellen Leavelle, PRC's communications and outreach director, appeared on the Ron Ponder Show where she discussed recent pension cuts affecting Iron Workers Local 17 retirees as a result of the Multiemployer Pension Reform Act.

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Can President Trump help ironworkers about to lose part of pensions? Retiree family makes an unlikely plea

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Congress didn't help Cleveland's retired ironworkers, who are about to lose part of their pensions. The Treasury Department didn't either, although it said it did all it could. Can President Donald Trump help?

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Cleveland-Area Iron Workers Approve Pension Cuts

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Members of Iron Workers Local 17 in Cleveland have approved cuts to their pension benefits in an effort to keep their pension plan from going insolvent, and it’s the fund’s retirees who are going to take the hardest hit.

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Iron Workers pension benefit reductions to start in February

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Iron Workers Local 17 Pension Fund, Cleveland, will implement a benefit reduction plan Feb. 1, following approval by plan participants by a ratio of 2-to-1, the pension fund announced Friday.

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Iron Workers pension cuts approved; retirees to get smaller checks

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In a vote pitting current workers against retirees, the retirees in the Iron Workers Local 17 union in Cleveland lost. Starting next week, their pension payments will shrink, some by half or more.

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In unprecedented move, pension plan cuts benefits promised to retirees

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A pension fund in Cleveland became the first plan to approve benefit cuts for current retirees — before the plan has run out of money. The move, some critics say, could open the door for other troubled pension plans to follow suit.

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