Pension-law change alarms retiree groups

Forty years after Congress took steps to guarantee that retirees get the pensions they were promised, another generation of lawmakers has taken a chisel to those legal protections. Tucked into the must-pass federal spending bill that President Obama signed last week was a provision - backed by key members of both parties and even some labor groups - that allows a certain type of pension plan to drastically cut retirees' pension checks to avoid running out of money.



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