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PBGC limits/ guarantees

Editorial: Middle-class retirees deserve better from Congress

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The devastating pension reform crammed into the omnibus spending bill that will likely soon become law would allow pension trustees to slash the benefits of retired workers and cut future benefits for a shrinking pool of middle-income employees.

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Congress approves pension measure that could cut benefits for many retirees

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Glenn Zichler worked 30 years driving a bread truck around St. Louis before retiring. Now, he may be facing a sharp cut in his $33,600 annual pension. A provision just approved by Congress would let troubled multi-employer pension plans cut benefits for current retirees.

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House approves bill to allow multiemployer pension plan benefit cuts

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Trustees of financially distressed multiemployer pension plans would be allowed to cut participants' benefits to prevent the plans from becoming insolvent under legislation narrowly approved by the House of Representatives Thursday night.

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Pension Cuts in the 2015 Federal Spending Bill

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Karen Friedman of the Pension Rights Center talked about cuts to government-guaranteed pension plans that would affect benefit recipients. The cuts were outlined in the 2015 federal spending bill.

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Proposed Congress spending bill allows some multiemployer plans to cut retiree benefits

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Controversial reforms for multiemployer pension funds will be part of a congressional spending deal set for a final vote Thursday.

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Tell Congress to just say “no” to pension cuts!

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We need your immediate help to stop Congress from cutting retirees’ hard-earned pension benefits. With only days left in the lame-duck session, Congress is considering provisions that would allow pension plan trustees to cut the hard-earned pension benefits of retirees – as a purported solution to shoring up certain financially-troubled multiemployer plans.

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Congress could soon allow pension plans to cut benefits for current retirees

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Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans. Several unions and pension advocates opposing the move, which would be unprecedented...

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Lame-Duck Congress Nears Last-Minute Vote On Sweeping Pension Reform

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Congress is nearing a vote on arguably the biggest change to private pension law in decades. The proposed reforms would grant sweeping new authority to the trustees of some “deeply troubled” multi-employer pension plans to slash benefits promised to current retirees—something that’s illegal under existing law.

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Multiemployer Program Posts Record Deficit, Single-Employer Shortfall Shrinks, PBGC Says

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The deficit of the Pension Benefit Guaranty Corporation’s multiemployer plan program rocketed to an all-time high in fiscal year 2014 of $42.4 billion—more than five times its previous high in 2013— the agency said in its annual report.

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1 Million American Pension Plans Could Be Insolvent In 10 Years

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The federal agency that regulates the nation's pension system issued a stark warning this week about some retirement plans.

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