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Rising costs usher in pension ‘de-risking’ cycle

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Many Connecticut workers probably think of a pension as something their parents had, or something they'll never get. Indeed, as companies have frozen or curtailed their pensions or "defined-benefit" plans, the number of Connecticut private-sector workers and retirees with a single-employer pension (519,000) has plummeted 42 percent over the last decade, federal data shows.

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IRS deepens focus on lifetime income with lump-sum ban

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The Internal Revenue Service's unexpected decision July 9 to ban lump-sum payments to retirees has plan sponsors keeping one eye open for further regulation but still considering those payouts for other plan participants.

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Legislation offers workable solution to multiemployer plan underfunding

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This is a Letter to the Editor from Karen Ferguson, director of the Pension Rights Center, responding to a negative editorial that Pensions & Investments published on the Keep Our Pension Promises Act of 2015.

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PBGC readies rules to cut retiree pension benefits

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The Pension Benefit Guaranty Corporation (PBGC) is getting ready to implement a new law that allows distressed union multi-employer pension plans to reduce retiree benefits — if that can halt them from sliding into insolvency.

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PBGC Partition Rules Give Clear Guidance, Will Help Preserve Plans, Commenters Say

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Regulations issued by the Department of Treasury and the Pension Benefit Guaranty Corporation will help troubled multiemployer plans from sliding into insolvency, but not without forcing participants and beneficiaries to make hard choices, pension professionals told Bloomberg BNA in recent interviews.

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Keep Our Pension Promises Act of 2015

Legislation

The Keep Our Pension Promises Act of 2015 repeals the “benefit suspension” provisions of the Multiemployer Pension Reform Act of 2014 (MPRA) enacted at the end of the last Congress.

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Critics question proposed rules for cutting pensions

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Six months after Congress approved reducing benefits promised to workers covered by certain troubled pension plans, the IRS and the Pension Benefit Guaranty Corp. have published proposed rules for how pension promises can be broken.

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ERISA’s Demise: The Domino Effect and Huelga: Story from a Casino Utility Closet

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PRC Executive Vice President and Policy Director Karen Friedman appeared on this radio program to discuss Sen. Bernie Sanders' bill to repeal benefit cutbacks for retirees in certain underfunded multiemployer pension plans. Karen's segment begins at 19:40 in the podcast and lasts for approximately 30 minutes. [AUDIO]

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Groups start working to pass federal law intended to stave off private pension cuts

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Mike Walden used a baseball metaphor in describing the introduction Thursday of federal legislation that would, if passed, eliminate pension cut provisions that are now law and could impact more than a million people in upcoming years.

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Teamsters, machinists, aerospace unions supports bill to repeal multiemployer reforms

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International Brotherhood of Teamsters, Washington, endorsed legislation introduced Thursday that would repeal the Multiemployer Pension Reform Act of 2014.

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