Tag: Benefit cutback|Congress|ERISA|Legislation|Multiemployer plan|PBGC|Pension Rights Center|Traditional (defined benefit) pensions|Treasury Department|Underfunding
Congress gives final OK to bill allowing multiemployer pension plan benefit cuts
Trustees of financially distressed multiemployer pension plans would be allowed to cut participants’ benefits to prevent the plans from becoming insolvent under legislation given final congressional approval Saturday.
