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Pension reforms pass House

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The $1.1 trillion government spending bill – which includes an amendment that could lead to cuts in retiree benefits among troubled multiemployer pensions – is now in the hands of the Senate after it was approved Thursday night by the House of Representatives.

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Congress poised to allow cuts to private pension payouts

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More than 1 million Americans who were promised secure, predictable retirement income probably will see part of their monthly benefit checks evaporate as Congress moves to stabilize some private pension systems veering toward insolvency.

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Congress Says It Has to Cut Pensions to Save Them

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Joshua Gotbaum doesn’t like telling retirees that their pensions are about to be cut. After all, until August he was the director of the Pension Benefit Guaranty Corporation (PBGC), the federal insurance fund that’s supposed to safeguard pensions.

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Pension Deal In Spending Bill Will Cut Benefits Before Safety Net Fails

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The agreement comes as several "multi-employer" pension plans are insolvent. The federal government guarantees those plans' benefits, but might not be able to handle all of them failing at once.

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Rep. Kline's proposed cuts catch pensioners by surprise

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Dave Erickson of Isanti, Minn., believed his pension benefits were guaranteed when he contributed a fixed portion of his pay into the Teamsters Central States Pension Fund. On Wednesday, Erickson learned that those benefits might be cut under a provision that Minnesota Rep. John Kline aims to tack onto the new federal budget bill.

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Congress considering plan to allow pension cuts

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More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut if Congress passes a proposal aimed at shoring up some of the nation's biggest pensions.

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Deal to allow multiemployer pension benefits cuts

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Retirees covered by financially troubled multiemployer pensions could soon see their benefits cut under a congressional spending deal to keep the government running.

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Multiemployer pension proposal riles Teamsters, retiree advocates

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The “cromnibus” spending bill has produced something for practically everyone to hate, and at the top of the list for organized labor is a proposed amendment that could cut benefits for elderly retirees who draw their income from troubled multiemployer pension plans.

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House delay leaves pension reform in question

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An amendment to let troubled multiemployer pension plans cut retiree benefits initially moved forward in Congress on Thursday but faced an uncertain future after the House recessed mid-afternoon without taking a vote on a massive spending plan.

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Labor Unions Accuse Congress of Sneak Attack on Pensions in Lame Duck

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As lawmakers pressed Monday to finalize the legislative language of a must-pass omnibus spending bill, labor unions and retiree groups were mobilizing to defeat what they are characterizing as a lame-duck sneak attack on the pensions of some already-retired workers.

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