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

Via Forbes, By Ashlea Ebeling, Forbes March 23, 2015 When it comes to analyzing a lump sum pension offer, employees need more help. That’s the conclusion of a new Government Accountability Office report, Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits. “Participants presented with a lump sum offer may not have a full appreciation of the range of risks involved … Continue reading 8 Questions To Ask Before Taking A Pension Lump Sum Offer

Via LaborNotes, By Jane Slaughter, LaborNotes April 21, 2015 Teamsters are up in arms over looming pension cuts that could slash the incomes of both current and future retirees—anyone under 80. They’re battling trustees of the enormous Central States Pension Fund, which has said that cuts of up to 30 percent may be necessary, as soon as possible, to keep from running out of money. … Continue reading Teamsters Mount Grassroots Campaign to Block Pension Cuts

Via the Star Tribune, By Jim Spencer, Star Tribune APRIL 8, 2015 The financially strapped Teamsters Central States Pension Fund will pursue benefit cuts to retirees — including thousands in Minnesota — under a new federal law co-sponsored by Rep. John Kline, R.-Minn. At a meeting in a Chicago suburb Wednesday, the fund’s trustees told union leaders from across the Midwest that they will pursue … Continue reading Teamsters pension trustees to pursue benefit cuts