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Four Ways Congress Just Screwed Up Pensions
The Huffington Post Link to more items from this source
Dec. 15, 2014
"[P]lan trustees have substantial discretion about how to allocate the cuts ... Retirees who are harmed cannot challenge the trustees' actions in court, even if those actions are arbitrary and capricious, or contrary to the interests of plan participants ... That's because this new congressional measure exempts the trustees from being fiduciaries when deciding whose benefits get cut, so retirees can't sue under the normal fiduciary claims. Oh, and there is no provision for automatic restoration of lost benefits if a plan's funding status improves."

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