New Law Could Mean Benefit Cuts For Retirees

Mark Miller
Wealth Management
January 24, 2015

If you weren’t paying close attention to happenings in our nation’s capital around the holiday season - and who could blame you - this might have slipped your notice: Important pension reforms were signed into law that will have dramatic impact on retirement for 10 million Americans.

Buried deep in the $1.1 trillion "Cromnibus" spending bill signed last month by President Obama, the reforms aim to head off a looming implosion of multiemployer pension plans - traditional defined benefit plans jointly funded by groups of employers. The eye-opener is that the reforms mean possible cuts in benefits for people who are already retired - a rare move in retirement policy.

Click here to read more at Wealth Management.


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