Pension plans that could be cut under new law

There's been one crucial question hanging in the air since Congress passed legislation last month allowing certain financially distressed pension plans to cut benefits for current retirees, reversing four decades of precedent: Which plans might actually move to cut benefits under the new law? This much was known: The law applied only to multi-employer plans, pooled retirement funds that support the pensions of unionized workers, many of whom are solidly working class. They include truckers, miners, supermarket clerks, custodians and construction workers.



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