November 18, 2014: Unless we act now, Congress may end up cutting a legislative deal by year’s-end to allow pension plan trustees to slash the already-earned benefits of retirees as a purported way of saving deeply-troubled multiemployer plans.
This would be a radical departure from the federal pension law and it would wipe out the anti-cutback rule which states unequivocally that once a retiree starts receiving a pension – it cannot be taken away unless a plan becomes insolvent.
It is outrageous for Congress to contemplate allowing cuts in retirees’ benefits as a way of staving off insolvency, without exploring other options to preserve hard-earned pensions.
We all care deeply about the health of our pension plans, but we do not think that they should be allowed to balance their books on the backs of retirees who are most vulnerable.
Say no to retiree benefit cuts. Tell Congress there are other alternatives that must be explored to save multiemployer plans.
Tell Congress no backroom deals.
You can help by contacting your Senators and Congressional Representative in your state and Congressional district. You can also contact their Washington office. The Capitol Hill switchboard is (202) 224-3121 and ask to be connected to your representative.
Take Action. Have you signed the Protect Our Pensions petition yet? Click here.