Lame-Duck Congress Nears Last-Minute Vote On Sweeping Pension Reform

2014-12-04T23:58:40-08:00December 4th, 2014|Categories: Pension Reform|Tags: , |

Congress is nearing a vote on arguably the biggest change to private pension law in decades. The proposed reforms would grant sweeping new authority to the trustees of some “deeply troubled” multi-employer pension plans to slash benefits promised to current retirees—something that’s illegal under existing law. A cornerstone of some collective bargaining agreements, multi-employer plans cover more than 10 million workers, mostly in construction but also in the transportation, manufacturing, retail and service sectors.   […]