Union retirees fear dramatic pension cuts.... because of a new federal law

[frugal-one]

This was in today's WI State Journal. Check out www.pensionrights.org .... a place that allows people to get an idea of how much their pension could be cut under the law (Multiemployer Pension Reform Act of 2014). Wow... this is scary stuff!!!!

http://host.madison.com/special-section/personal-finance/union-retirees-fear-dramatic-pension-cuts-under-new-federal-law/article_5b51e2d5-8308-5b78-996d-5ee38ad6c22e.html

[flowerseverywhere]

Very frightening for many. When you were told you would have x dollars coming in for the rest of your life and when you can't go back to work it is cut, very sad indeed. Again the people on the bottom of the totem pole pay for the mistakes of the people on the top.

[Reyes]

I could not read the link. The article was showing as fully redacted. Does one have to register?

[ctg492]

Whew, Dad is 85 so he would be good. yes the generation that planned on a pension should not have it touched, period. Pensions are not something younger folks will know anything about soon. Husband is 53 never had one. My father 85 has lived off his pension longer then he worked for MI Bell. He beat the system he says.

[ToomuchStuff]

Wonder what else plays into effect? My father, will be 71 this year, and their guaranteed health insurance part of the pension, was sent off to ACA, (think the federal one), by the former employer, already.

We are going more towards the old work until you die system.

Edit: His isn't union though, so need to find out if they are affected or not.

[Teacher Terry]

That is horrible! Ours is with a public employer that is doing well thank goodness.

[Rachel]

I could not read the link. The article was showing as fully redacted. Does one have to register?

No, you can get access, but you have to click on the big image next to the headline. Keep looking at the page--the whole page, not the list of smaller articles.