Via Pensionrights.org By The Associated Press, Pensionrights.org July 13, 2015 WASHINGTON – In a welcome move by the Department of the Treasury and the IRS, the agencies released last week a notice to amend Treasury regulations to stop companies from offering lump-sum buyouts to retirees who are already receiving a monthly pension. The Pension Rights Center has been critical of these transactions, which erase the … Continue reading Pension Rights Center Applauds Treasury Department/IRS for Protecting Retirees by Banning Lump-Sum Buyout Offers

Via Bna.com, By Sean Forbes, Bna.com June 16, 2015 Pension overpayments result in a host of tough questions when plan fiduciaries attempt to recoup losses, such as the rights of the administrator to a full recovery and the rights of the participants to retain the full monthly payment to which they’re entitled, attorneys said in a webinar. The first step is to adjust the payments … Continue reading Pension Overpayments Raise Tough Questions About How to Recoup Losses, Attorneys Say

Via Pittsburgh Post-Gazette, By Len Boselovic, Pittsburgh Post-Gazette June 21, 2015 Six months after Congress approved reducing benefits promised to workers covered by certain troubled pension plans, the IRS and the Pension Benefit Guaranty Corp. have published proposed rules for how pension promises can be broken. Tucked into the last-minute budget compromise signed by President Barack Obama in December, the pension legislation is of most interest … Continue reading Len Boselovic’s Heard off the Street: Critics question proposed rules for cutting pensions

Via Nwlaborpress.org, By The Associated Press, Nwlaborpress.org June 30, 2015 The Pension Benefit Guaranty Corporation (PBGC) is getting ready to implement a new law that allows distressed union multi-employer pension plans to reduce retiree benefits — if that can halt them from sliding into insolvency. On June 17, PBGC announced “interim final” regulations telling pension plans how to apply for permission to cut retiree benefits. … Continue reading PBGC readies rules to cut retiree pension benefits