Legislation to repeal the Kline-Miller Multiemployer Pension Reform Act of 2014 was introduced yesterday by Sen. Bernie Sanders, I-Vermont, and Rep. Marcy Kaptur, D-Ohio.
The Keep Our Pension Promises Act of 2015 would prohibit trustees of multiemployer pension plans from reducing retirees’ monthly benefits.
Yesterday, the Treasury Department and the Pension Benefit Guaranty Corp. released interim rules laying out the procedures for reducing retiree pensions.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
