Summary of the Pension Cutback Provisions in the Omnibus Spending Law
Via the Pension Rights Center: In December 2014, Congress passed and President Obama signed into law the 2015 Omnibus spending bill, which includes provisions that allow trustees of certain multiemployer plans to cut retirees’ pensions. Here is a summary of these provisions: The legislation permits deep pension cuts to retirees in certain financially-troubled multiemployer plans. Financially-troubled plans are plans expected to not have enough money … Continue reading Summary of the Pension Cutback Provisions in the Omnibus Spending Law
