Congress Considers Cutting Pension Benefits to Current Retirees
We typically like to end the week on a high note with exciting job market news but alas, we need to make an exception based on the latest headline.
Congress may actually cut pension benefits to current retirees. Come again?
The proposed legislation would amend a $1.1 trillion spending bill by cutting benefits for multi-employer plans most commonly found in the grocery, trucking and construction industries. Fingers crossed media is not in there but it still negatively impacts retirees who’ve worked in industries with employers as well as unions.
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