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Red zone/ critical status

Retirees soon to learn how much pensions may be cut

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Retired truck drivers and others who draw a pension from an underfunded pension plan expect to find out in the next couple of days how much their monthly stipend may be cut.

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Teamsters Protest as Treasury Debates Allowing Pension Cuts for 1.5 Million Retirees

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About 300 angry Teamsters descended on Washington, D.C., September 10, demanding federal action to protect the pensions of union members threatened with benefit cuts. The retired Teamsters are among a group of as many as 1.5 million retirees from a long list of different labor unions nationwide that could see their pensions slashed under a new law quietly approved late last year.

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Proposed pension cuts have Teamster retirees worried

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Retired truck drivers and other retirees who draw a pension from an underfunded pension plan expect to find out early this fall how much their pension will be cut.

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Impassioned Voices Ring Loudly at Benefits Suspension Hearing Savings

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When crafting final regulations on suspending benefits under multiemployer pension plans, the IRS and Treasury Department should use the "maximum limits" of their authority to write rules that follow the law but are as fair as possible to workers and retirees, speakers said during an IRS hearing.

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Retirees brace for hardship as multi-employer pension cuts loom

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Of all the negative financial surprises that can hit in retirement, learning a "guaranteed" pension could be severely cut is among the worst.

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With union pensions in jeopardy, Ohio members plead with Congress and the feds

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Alex Adams lifted his shirt so the panelists and audience could see the bandages and feeding tube. "This is how I eat," he said in a halting voice. 

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Countdown to Cuts: Retirees Call on Policymakers to Stop the Clock on Cuts to Their Pensions

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WASHINGTON – Hundreds of retired truck drivers and their spouses came to Washington, D.C., today to tell policymakers how proposed cuts to their pensions  More...

Retirees, experts testify at Multiemployer Pension Reform Act hearing

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Federal regulators charged with implementing the Multiemployer Pension Reform Act of 2014 heard from concerned retirees and pension experts Thursday during a hearing convened by the IRS.

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IRS releases multiemployer benefit cut voting rules

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Procedures for allowing multiemployer plan participants to vote on benefit reductions in distressed plans were issued by the IRS on Wednesday.

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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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