Congress could soon allow pension plans to cut benefits for current retirees

Michael A. Fletcher
The Washington Post
December 04, 2014

Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans.

Several unions and pension advocates opposing the move, which would be unprecedented, say that permitting financially strapped plans to cut retiree benefits would violate the central promise of traditional pensions: that they would provide a defined benefit for life.

Click here to read more at The Washington Post.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Hoffa Strikes out on Corruption Once Again

James Hoffa has done it again. Today, Hoffa rubber-stamped another whitewash of the corruption charges against Willie Smith for accepting $6,000 worth of gifts from a Teamster employer. The case will now go to the Independent Review Officer (IRO), Judge Barbara Jones. 

More Coli Corruption Fallout in Chicago

In the wake of John Coli's indictment on the charge of taking employer payoffs, Illinois Joint Council 25 has dumped his hand-picked replacement Becky Strzechowski and appointed Terry Hancock as Joint Council 25 president. 
View More News Posts