Nicholas Pension Consultants
Nova 401(k) Associates
Compensation Strategies Group, Ltd.
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|Testimony of Pension Rights Center to Treasury on Proposed Rules for Retiree Benefits Cuts Under MPRA|
Pension Rights Center
Sept. 11, 2015
"Most of the retirees you are hearing from are participants in the Central States Teamsters plan. That is because their trustees have told them that their pensions are about to be cut. Estimates are that there are hundreds of thousands of other retirees who will also be affected. They just don't know it yet.... MPRA is unprecedented, overturning 40 years of law by allowing trustees to reduce the benefits of retirees in ongoing plans. It has also established a dangerous precedent that could lay the foundation for cuts in earned pensions well beyond the multiemployer sphere."
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