Senators urge caution on multiemployer cuts

Hazel Bradford
Pensions & Investments
May 15, 2015

Democratic members of the Senate Finance Committee asked Treasury Department officials to tread carefully as they develop the process for implementing multiemployer pension reforms enabling some plans to cut benefits.

“These reforms are unprecedented and, therefore, we ask the Treasury Department to take its role in overseeing the benefit suspension provisions very seriously. In particular, it is critical that you ensure that participants’ and retirees’ rights are protected,” Democratic Sens. Sherrod Brown, Ohio; Ron Wyden, Ore.; Debbie Stabenow, Mich.; Bill Nelson, Fla.; Robert Menendez, N.J.; Ben Cardin, Md.; and Robert Casey, Pa., said in a letter sent Thursday to Treasury Secretary Jacob Lew.

Click here to read more.


Be the first to comment

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

Recent News

Vote No at UPS Action Kit

Take action to defeat givebacks at UPS with the latest contract bulletins and Vote No tools.

Central States Pension: Latest Financial Report

The Central States Pension Fund ended the first quarter of 2018 with assets of $14.8 billion, a loss of $172 million for the quarter ending March 31, 2018. However, the loss would have been much worse except for a one-time payment of $467 million by the Kroger Corporation; this was a lump sum payment to pull all Kroger and some Kroger-contractor employees out of the pension fund permanently.

View More News Posts