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PBGC Missing Participants Proposal Gets Broad Support From Array of Organizations

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Reuniting missing retirement plan participants with their savings is a cause that everyone can rally around, as comments on proposed rules by the Pension Benefit Guaranty Corporation show.
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PBGC Proposes Lost & Found For 401(k) Money

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Lost track of your old 401(k)? In keeping up with the times, the Pension Benefit Guarantee Corporation has issued proposed rules on a depository to hold orphaned retirement accounts for workers whose former employers terminate their 401(k) plans. 

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Joint Statement Opposing Consideration of “Composite” Pension Legislation

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The International Association of Machinists and Aerospace Workers, the International Brotherhood of Boilermakers, the International Brotherhood of Teamsters, the National Retirees Legislative Network, the Pension Rights Center, and the United Steelworkers strongly oppose legislation

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How safe is your pension?

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George Bauer of Troy and Bill Randolph of Collinsville both worked at the old Pevely Dairy processing plant in South St. Louis.

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Is the Pension Benefit Guaranty Corp. worth propping up?

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U.S. multiemployer pension plans disagree about the value of participating in the cash-strapped federal agency's insurace program.

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1 Million Affected by De-Risking in 5 Years, PBGC Says

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More than a million defined benefit plan participants in larger plans were affected by pension de-risking activities from 2009 through 2013, and more than half of those were involved in 2012 transactions, the Pension Benefit Guaranty Corporation said in a report.

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Resources for Central States Pension Fund Retirees

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This page is intended to serve as a resource hub for retirees who are subject to cuts as a result of the Central States Pension Fund’s application to the U.S. Department of the Treasury to reduce retiree benefits. This page will be updated on an ongoing basis.

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The Pension Accountability Act

Legislation

In the last days of 2014, Congress passed the Multiemployer Pension Reform Act of 2014 (MPRA) as part of a year-end budget compromise. As a result of MPRA’s enactment, for the first time in 40 years multiemployer pension plan trustees have been given the authority to cut already earned retiree pension benefits while a plan is still solvent.

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Pension Rights Center Response to Central States Teamsters Pension Fund Letter

News Release

On September 22, James P. Hoffa, General President of the International Brotherhood of Teamsters, wrote to Thomas Nyhan, Executive Director of the Central States Teamsters Pension Fund, to ask that the Fund’s trustees not propose “draconian benefit cuts that will impose significant hardships” on the Fund’s participants. 

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Pension Rights Center Calls Proposed Retiree Benefit Cuts by the Central States Pension Fund a “Pension Demolition Plan”

News Release

WASHINGTON – Last week, the Central States Pension Fund began notifying hundreds of thousands of retirees that it has applied to the U.S. Department of the Treasury to cut their pensions.

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