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Traditional (defined benefit) pensions

Who You Gonna Call? Ken Feinberg

News Item

In his latest role, mediator-in-the-spotlight sets sights on troubled pension plans.

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Experts watching high court session

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Pension plan executives and other investors are watching several Supreme Court cases in the term starting Oct. 5, especially ones that could change the rules for bringing legal actions against corporations, and challenges to when and where retirement plan participants can sue.

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Central States Pension Fund Prepares To Slash Hundreds of Thousands of Workers’ Pensions

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For several months, many current and retired truck drivers have feared receiving a letter in the mail that could be “devastating,” in the words of Teamsters union vice-president John Murphy.

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State-based retirement plans for the private sector

Legislation

States around the country are looking into ways of using the efficiencies of public retirement systems to administer new types of pension plans for private-sector workers. Below are brief summaries of plans that have either passed or are being considered.

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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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PBGC says union pensions facing less risk

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Multiemployer pension plans, those operated by unions on behalf of workers who are or were employed by more than 1 company in a particular industry, are facing less risk than they were last year. But the outlook is still not very good, according to a report issued Monday by the Pension Benefit Guaranty Corporation, or PBGC, the federal agency that guarantees private pensions.

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Companies that have transferred pensions to insurance companies

Publication

Below is a list of employers that have transferred their pension obligations for certain retirees and former employees to insurance companies by purchasing annuities.

(Note: this is not a comprehensive list. These are only the changes that we are aware of, based on corporate press releases, news reports, and other sources.)

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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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