via 10tv.com By Andrew Taylor, 10tv.com June 17, 2015 The government is paving the way for up to about 1 million people covered by underfunded multiemployer pension plans to face benefit cuts over the next few years. The move by the Treasury Department implements a new law that earned mixed reviews from the unions whose members are covered by such plans, including construction workers, Teamster … Continue reading Government paves way for multiemployer pension plan cuts

Via WYTV, By Amanda Smith, WYTV May 14, 2015 U.S. Sen. Sherrod Brown said Teamsters’ pensions are at risk. Brown, D-Ohio, said retirees need to have plenty of information to understand the changes coming in the next few years. Last year, Congress approved a law that would allow the Central States Pension Fund to cut benefits being paid to current retirees. That is the fund … Continue reading Senator urges Teamsters to learn of pension changes

Via CNBC, By John W. Schoen, CNBC March 24, 2015 These days, a pension just isn’t what it used to be. For generations, a defined benefit pension—a fixed monthly check for life—provided an ironclad promise of a secure income for millions of retired American workers. But today, that promise has been badly corroded by decades of underfunding that have undermined what was one of the … Continue reading Funding shortfalls put pensions in peril