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

Central States Pension Fund: $12.7 Billion in Asset

The third quarter financial and analytical report shows that the Central States Pension Fund is down to $12.7 billion in assets, a drop of $460 million since the beginning of 2019.

Building for the Future: New TDU Dues Rates

TDU is on a drive to increase our membership and our war chest. At our recent Convention, members voted to increase TDU membership dues for the first time in 17 years.

View More News Posts