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Pension Protection Act of 2006

Ten Years After, the Pension Protection Act Falls Short of Promises

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Ten years ago today, President George W. Bush signed into law the Pension Protection Act of 2006. It was the largest, most comprehensive U.S. pension reform bill since the mother of them all, the Employee Retirement Income Security Act of 1974.

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Unforeseen consequences one legacy of the Pension Protection Act

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Like many pension-related laws, the Pension Protection Act that passed a decade ago was designed to address a crisis. At the time, underfunded pension plans were threatening the financial stability of the Pension Benefit Guaranty Corp.

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As Pension Recoupment Grows, Advocates For Pensioners Offer Advice to Agencies

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Pension plans have been ratcheting up demands that retirees reimburse them for benefit overpayments, and a lack of government guidance has pushed those efforts even further, advocates for pensioners told Bloomberg BNA.

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Multiemployer plans can cut benefits to stay solvent

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Trustees of distressed multiemployer pension funds got new tools to avert insolvency in a package of reforms approved by Congress in mid-December, including the right to reduce benefits for active workers and retirees in deeply underfunded plans.

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President Expected to Sign Spending Bill Addressing Multiemployer Plans, 4062(e)

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President Barack Obama was expected to sign into law a $1.1 trillion U.S. government spending bill that includes elements designed to boost the nation's troubled multiemployer pension plan system and provisions addressing several other employee-benefits-related areas.

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Cromnibus Continues Attack on Pensions

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There are plenty of setbacks for working people, and benefits for the rich and corporations, in the $1.1 trillion appropriations bill just passed by Congress. But what it does to pension protections is appalling.

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ERISA at 40

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The landmark legislation that promised security in retirement has fallen far short of its expectations

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Landmark ERISA pension reform law sees mixed results 40 years after implementation

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Forty years after President Gerald Ford signed the first comprehensive pension reform bill into law, the Employee Retirement Income Security Act has produced successes and failures.

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Teamsters rank and file digging in against possible pension benefit cuts

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Teamsters retirees from the trucking industry currently enjoy some of the most generous pensions in America—up to $3,500 a month for 30 years of service from any unionized trucking company that contributed to multiemployer pension plans that once covered the industry like a warm fuzzy financial security blanket.

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The United States, on the verge of a retirement crisis

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"For retirement, the answer is 4-0-1-k," proclaimed Tyler Mathisen, then editor of Money magazine in 1996. "I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself." For this sentiment, and others like it, Mathisen was soon rewarded with an on-air position at financial news network CNBC, where he remains to this day.

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