New Law Could Mean Benefit Cuts For Retirees

05-Feb-2015 #Globalwealth Source: Wealth Management

US had recently signed into law an important pension reform that will impact the retirement of its people. The legislation revises ERISA to grant plan trustees, broad powers to cut retired workers’ benefits if they can show that would prolong the life of the plan. The reforms affect retirees and workers in multiemployer pension plans, where employers pool together into a single pension plan.

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