Monday, January 13, 2014
AARP wanrs that Congress could let multi-employer pension funds cut payments even to current beneficiaries
Barry Rand (CEO of the AARP) has an important op-ed on p. 34 of the January-February 2014 AARP Bulletin, “Protect our Earned Pensions”, link here.
Rand warns that Congress is reviewing the solvency of multi-employer pension plans, which cover over 10 million Americans. He warns that Congress is considering allowing these plans to lower payments to existing and current retirees as well as future retirees. This would be like lowering Social Security Benefits.
Avik Roy had an article in Forbes, “Obama to labor unions with multi-employer pension plans: drop dead”, link here.
I’ll have to look for specific legislation in Congress. Does somebody know the HR number?