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.

Get Advice Join TDU Donate

Recent News

Listen to Our COVID-19 Conference Call

More than 700 UPS Teamsters joined a national conference call on meeting the challenge of the COVID-19 crisis.

Senate Bill Fails to Protect Pensions: Battle Continues Now

The $2 trillion stimulus package which passed the Senate and will likely soon be passed by the House, called the “Phase 3” plan to revive the economy, did not include protection for earned pensions. But that fight is alive right now, because a new “Phase 4” bill will be considered in late April.

View More News Posts