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.

Get Advice Join TDU Donate

Recent News

Your Rights If You’re Exposed to COVID-19 at Work

OSHA and CDC guidelines are clear about what management should do if someone in your workplace tests positive for COVID-19. Here's what to do if management isn’t following the rules. 

Has the IBT Really Reached a Deal on COVID-19 Safety Supplies?

On a Teamster podcast, Package Division Director Denis Taylor claims he’s negotiated an agreement for Teamster drivers to get a UPS purchase order so they can buy PPE and critical safety supplies out on their routes. Is this a real agreement or another empty promise from the Hoffa administration?

View More News Posts