So far, three multiemployer pension plans have applied to the Treasury Department for the authorization to cut promised pension benefits to retired and current labor union members.
Iron Workers Local 17
The Cleveland, Ohio-based Iron Workers Local 17 Pension Fund has posted its application. The fund has 640 active participants paying into the fund, which has obligations to 2,064 total participants.
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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.
