Loan & Distribution Specialist AimPoint Pension
|
Compass
|
Regional Vice President of Sales The Retirement Plan Company
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Bates & Company, Inc.
|
AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Treasury Department Approves Two Multiemployer Applications to Cut Benefits
Pensions & Investments Aug. 29, 2018
"Western States Office and Professional Employees Pension Fund ... submitted its third application ... to reduce benefits 30% for active participants, terminated vested participants and retirees under the age of 80, to avoid insolvency that was projected to happen by 2036.... Iron Workers Local 16 Pension Fund ... reapplied ... to reduce benefits starting Oct. 1. Without the reductions -- an average of 20% in benefit cuts -- it is projected to be insolvent by 2032.... Officials at both plans were notified ... that final authorization will happen after plan participants vote on the proposed plan[.]"
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |