That solid pension benefit? Subject to change

Some troubled pension plans now have the authority to drastically reduce the benefits of current and future retirees - something that hasn't happened since Congress passed legislation protecting retirement benefits 40 years ago. The power was included in the last-minute, $1.1 trillion budget compromise signed by President Barack Obama on Dec. 16. It applies to multiemployer pension plans that are expected to run out of money in 15 or 20 years.



http://www.post-gazette.com/business/money/2014/12/28/That-solid-pension-benefit-Subject-to-change/stories/201412290028