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Multiemployer plan

First Mutltiemployer Plan to Make Benefit Cuts Under MPRA

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Cleveland Iron Workers Local 17 Pension Fund announced that its retirees will be the first in the country to face pension benefit cuts as a result of the Multiemployer Pension Reform Act (MPRA), which allows ongoing plans that are severely underfunded to take action to cut retiree pension benefits.

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Cleveland Iron Workers vote to approve pension cuts: Iron Workers Local 17 becomes first plan to cut retiree pensions

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WASHINGTON – Today, Cleveland Iron Workers Local 17 Pension Fund announced that its retirees will be the first in the country to face devastating pension benefit cuts as a result of the More...

Will change in Washington bring help to ailing multi-employer pension funds?

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Last year, a group of retirees collecting pension benefits from the financially struggling Central States Pension Fund were able to block big cuts in their monthly check that the fund said it needed to keep it afloat.

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Failing Multi-Employer Pension 'Rehabilitation Plans' Don't Address Mismanagement of Investments

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According to the Pension Rights Center, there are more than 10 million workers and retirees in 1,400 multi-employer plans. Approximately 150 to 200 of these plans are projected to run out of money within the next 20 years.

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Iron Worker Retirees Face Stacked Deck in Vote to Cut Pensions

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Nearly 2,000 Iron Workers in the Cleveland area will be voting by Jan. 20 to accept or reject cuts to their pensions, and the vote could pit active employees against retirees.

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Donald Trump collected a massive $168,000 union pension. Will he fight for yours?

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Now that Trump is about to be president, the most important question is: What is Trump's plan to save the system that is designed to protect millions of union pensions like his own?

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Cleveland union becomes first for MPRA acceptance

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The first multiemployer pension plan to win approval to reduce benefits offers lessons for other struggling plans facing insolvency.

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Retired iron workers could face pension cuts next month

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Larry Burruel is starting the new year with a grim reality: His monthly pension check could be cut in half at the end of the month.

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New York’s Teamsters May Have Their Pensions Cut. What Went Wrong?

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As troubled pension funds go, the New York State Teamsters Conference Pension and Retirement Fund, with some $1.3 billion in assets, is by no means the largest. Neither is it in the direst financial shape, even though just 44.8 percent of its obligations are funded.

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How safe is your pension?

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But for millions of union workers, part of the attraction of paying union dues over a lifetime of work was the promise that a pension. Many of those pensions are so-called multiemployer plans, which cover workers for unrelated employers in the same industry.

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